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NAPA Net Daily

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A relatively small ($500 million) plan has found itself the target of an excessive fee suit – but that’s not the real news. This particular suit (Enos v. Adidas Am., Inc., D. Or., No. 3:19-cv-01073-YY, complaint 7/10/19) was filed by Paul Enos and David Freitas (individually and as representatives... READ MORE
Baseball season is in full swing (get it?) – in fact, this week, the 90th Major League Baseball All-Star game was played. But a reader has asked for some help in identifying the best movie about the national pastime – and we heard from a record number of NAPA-Net readers! Speaking of the All-Star... READ MORE
If you think you’ve had a bad week, just remember – it could have been worse. Check out what happened to these guys (and gals)…  In Dixon, Illinois, Jennifer A. Janus Yeager, 49, was pulled over by police for driving with an inflatable pool on the roof of her car… but it’s what was in the pool... READ MORE
Most DC plan sponsors feel a high level of responsibility for participants’ financial wellness, but a new survey finds that many are not taking proactive measures to position them for success.   J.P. Morgan Asset Management’s fourth biennial survey of U.S. defined contribution plan sponsors finds... READ MORE
An ERISA excessive fee class action settlement has been challenged by a self-described “pure public-interest non-attorney litigant.” The settlement in question isn’t particularly large by excessive fee suit standards; $3.175 million[1] and some releases contained in the settlement agreement (a non... READ MORE
The so-called Butch Lewis Act to address funding problems facing multiemployer pension plans continues to work its way through the legislative labyrinth, with a second House committee approving the legislation in recent weeks.    In what at times was a hotly debated markup session, on July 10 the... READ MORE
John Carter has been named President and Chief Operating Officer-elect of Nationwide’s financial services business lines, effective immediately.  Carter succeeds Kirt Walker, who will become Nationwide’s CEO in October. Reporting to Walker, Carter will oversee the company’s retirement plans, life... READ MORE
Since employees and their behavior are at the root of most decisions about retirement plan participation and how individual accounts are managed, insight into behavior that affects those decisions can be a useful tool in understanding how those choices are made.  In a July 9 webcast, “Behavioral... READ MORE
When I sat down to write this, my first column as NAPA President, I quickly realized that I will never be able to write a President’s message like our Past President, Jeff Acheson. Jeff is a master of wordsmithing and, as those who attended this year’s 401(k) Summit know, he is famous for his “... READ MORE
Closely correlated in the minds of plan sponsors, consolidating platforms and streamlining the advisor experience once again rank as the highest priorities, according to a new report by Cerulli Associates.   In fact, 90% of managed account sponsors surveyed identified simplifying and streamlining... READ MORE

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