Publisher’s Letter
In our recurring interview feature 9½ Questions, we have
a practical and real-world discussion with Sean Patton,
one of the founding partners at Westminster Consulting
about his approach on the Tibble v. Edison court case when
discussing its impact on his clients. Sean discusses why
it’s important for plan sponsors to be aware of this case and
what they can do to stay away from finding themselves on
the right side of the “v” in the event of a challenge.
Our cover story by Angel L. Garret of Trucker Huss,
APC, provides us with excellent context of the case and
leaves the reader with practical and actionable lessons to
be learned.
In March of this year, the court case Tibble vs. Edison
The article, A Sea of Change in Fixed Income, talks about
International (Tibble v. Edison Int’l, No. 10-56406 (9th
how the exit strategy of accommodative monetary policy is
Cir. 2013) made headlines within our industry. Since the
scaring the fixed income market.
case dealt with a number of important topics plan sponsors
should be aware of, we’ve dedicated this issue of confero
to both the case and topics it addresses. Angel Garrett in
our feature article says, “In its detailed decision, the court
addressees a myriad of issues that are essential for plan
fiduciaries in understanding how to limit and avoid liability
under the Employee Retirement Income Security Act of
1974 (“ERISA”) going forward.”.
We open this quarter’s edition with an article by Diana K.
Powell, Esq. on the core tenets of fiduciary responsibility
and governance. This is an excellent refresher and review
of the responsibilities that fiduciaries shoulder under
ERISA and a well-positioned preface to the viewpoints and
considerations around Tibble v. Edison.
2 | SUMMER 2013
Finally, Eric Paley, with a clever reference to Star Trek’s
15th episode of its second season, “The Trouble with
Tribbles”, provides his thoughts on the case with his
The Trouble with Tibble article. “…to my mind, Tibble
v. Edison International isn’t about willful ignorance. It’s
about sheer ignorance.”
We hope you enjoy this issue and we continue to
appreciate your comments and support in our mission to
provide timely and valuable information from a variety of
sources to you our clients and friends.
Tom & Sean