Confero Summer 2013: Issue 3 | Page 3

Contents SUMMER 2013 10 12 2 PUBLISHERS LETTER 3 CONTRIBUTORS 4 UPCOMING EVENTS Cover Story 12 Tibble Vs. Edison What Does this Decision Mean For Plan Fiduciaries? Issue no. 3 16 18 Departments 6 RES IPSA LOQUITUR Fiduciary Governance: Trust Me 8 9 1/2 QUESTIONS A Conversation with Sean Patton, Partner at Westminster Consulting Features 10 With Markets Going Up, Why Does My Funded Status Keep Going Down? 16 A Sea of Change in Fixed Income 18 The Trouble with Tibble: What if you don’t know what you don’t know ON THE COVER confero A quarterly publication of Westminster Consulting ISSUE NO. 3 TIBBLE v. EDISON WHERE DO WE GO FROM HERE? Tibble v. Edison Int’l, No. 10-56406 (9th Cir. 2013) | 1