Vanguard, the investment firm, has reached a settlement exceeding $106 million with the SEC and various state regulators to resolve allegations of violations related to its target date retirement funds. The settlement follows claims of misleading disclosures and unexpected tax consequences affecting over 10,000 investors in multiple states, including Wisconsin, Alabama, and New York. The funds are intended for investors approaching retirement but have been scrutinized for potential mismanagement and misleading statements. State attorneys general and the SEC are coordinating efforts to ensure appropriate remediation for affected investors.