The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
OLYMPIA, Wash. -- Aetna Life Insurance Company has agreed to pay a $1 million fine for violations in Washington state.
The Washington stateOffice of the Insurance Commissioner said Thursday that Aetna's violations included issuing unapproved insurance policies and failing to file legally required documents. The office says the Connecticut-based company has agreed to pay the fine.
Aetna did not immediately return a call seeking comment.
Officials say Aetna has agreed to a compliance plan to prevent similar problems in the future.