Mass Mutual Took Kickbacks In Pay-To-Play Scheme: Suit

Law360, New York (October 19, 2011, 10:17 PM EDT) -- Mass Mutual Life Insurance Co. was hit with a proposed class action Wednesday alleging it accepted kickbacks through a pay-to-play scheme in which it offered mutual funds to its 401(k) plan customers in exchange for payments from the funds.

Mop maker Golden Star Inc. filed the suit in Massachusetts federal court, alleging that Mass Mutual accepted kickbacks in the form of administration and service fees in violation of the Employee Retirement Income Security Act.

“Defendant is prohibited from receiving benefits in connection with its position of...
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