Mayors Score Win in Lawsuit Over Troubled Retirement Plan Endorsement Deal

The U.S. Conference of Mayors for about three years now has been battling in court with a company that previously administered a retirement savings program for city employees that the mayors’ group agreed to endorse in exchange for royalties and fees.

Earlier this month, the mayors took a significant step toward prevailing in that lawsuit. A federal appeals court upheld a jury verdict the conference won at trial last year that called for the company, Great-West Life & Annuity Insurance Company, to pay the organization $8 million.

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