The $2.7 billion dollar plan also joins the more than 30 employers accused of mismanaging employee forfeiture funds.

Vanguard announced Monday fee reductions on 168 share classes across 87 investment funds—in what the firm called its largest fee cut to date. The firm projects that the fee reductions are expected to ...

The fund, which will require Congressional approval, is to be established by the Treasury and Commerce departments over the next 12 months.