Vanguard has been fined over $100 million by the SEC following allegations of violations related to target date retirement funds. The investment management company will pay approximately $106.4 million to address issues involving misleading disclosures and tax consequences for investors. This settlement not only resolves the SEC charges but also allows for compensation for over 10,000 Florida investors affected by the violations. The Washington Department of Financial Institutions is partnering in the multistate settlement, highlighting the widespread implications of the mismanagement of these retirement funds.