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Court finds sponsor not liable for plan account theft

A decision is made in Bartnett v. Abbott Laboratories, dismissing plaintiff’s claims against defendant sponsor fiduciaries in a case involving the theft of $245,000 in plaintiff’s Abbott retirement plan account.

DOL cybersecurity guidance

The focus of this guidance is not sponsor cybersecurity. Rather, the focus is on the responsibility of plan fiduciaries for the cybersecurity of plan providers, a slightly more complicated issue.

Annuity Purchase Update: April 2021 Interest Rates

April Highlights + Plan funding status climbed Asset values grew Interest rates grew Most pension plans with an asset portfolio of 60% equities and 40% fixed income improved their funding status around 11% in the first quarter of 2021 Plan sponsors have improved their funding percentage to an average of 90-93% + Annuity purchase costs…Read More

Multiple employer plans – fiduciary litigation risk – introduction

Multiple employer plans (MEPs) are emerging as a provider-based alternative to single employer 401(k) plans, particularly for smaller employers. It seems likely that, as these MEPs accumulate assets, they will begin to be the target of the same sort of fiduciary litigation that has afflicted the single employer 401(k) plan community. In this introductory article…Read More

March 2021 Pension Finance Update

Pension finances enjoyed another good month in March, capping the best quarter in memory, led by higher interest rates with stock markets playing a supporting role.