State v. Nationwide Life Insurance Co.

CYNTHIA L. MARTIN, Judge.

This dispute arises out of Nationwide Life Insurance Co.’s (“Nationwide”) withholding of an $18,586,879.65 market value adjustment (“MVA”) from the State’s deferred compensation fund assets transferred by Nationwide to a new investment provider on June 2, 2006. The State of Missouri, Office of Administration, and Missouri State Employees Deferred Compensation Commission (collectively hereinafter referred to as “the State”) filed suit against Nationwide and National Retirement Systems f/k/a PEBSCO (“NRS”) for breach of contract, for breach of the implied covenant of…