Larry Beebe, CPA
A U.S. District Court in Oregon ruled that the trustees of a retirement plan must pay a participant’s retirement fund distribution from their own personal funds as a result of failing to prudently invest plan assets.
The plan had invested its assets in a single plat of undeveloped land owner by a real estate development company and in loans to that development company. The development company could not pay on any of its obligations. Because the trustees breached […]