Vanguard Group will pay more than $106 million to settle US Securities and Exchange Commission allegations that it made misleading statements about capital gains distributions and tax consequences to retail investors who held popular target-date retirement funds in taxable accounts.

Their misstep led to them being charged with not telling investors about the changes that were made, according to CNN.

The $106.41 million penalty will be paid out to hundreds of thousands of investors, whom investigators say Vanguard failed to adequately inform of a critical change to its retirement funds.