Law360, London (May 8, 2019, 2:12 PM BST) -- Britain's pensions regulator said Wednesday it has fined the trustees managing numerous McDonald's retirement plans £103,750 ($135,000) for failing to audit its accounts and omitting details on how much members can expect to save, the first-ever penalties for such breaches.
The Pensions Regulator said Link Pension Trustees Ltd. did not obtain audited accounts for McDonald's employees' pension scheme for four years in a row and left out an illustration estimating how much members might walk away with when they retire.
The trustees also failed to report the breaches, the regulator said. The fine includes penalties for failing to have at least three trustees on its...
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