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Nevin E. Adams, JD
By Nevin E. Adams, JD | 12/20/2019
The Labor Department has weighed in on a case with significant implications for ERISA litigation cases.
The suit, brought in the U.S. District Court for the Eastern District of Pennsylvania on behalf of a potential class of terminated Wawa, Inc. employees, alleged that Wawa, its ESOP plan trustees...
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By Nevin E. Adams, JD | 12/20/2019
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 Palm Beach, Florida, lottery winners Danielle Takeila Edmonson, 35, and her father Kenneth Roger Edmonson, 51, filed for some $175 million in tax refunds on the...
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By Nevin E. Adams, JD | 12/20/2019
Hannukkah’s just around the corner, Christmas is right behind, Festivus is Monday, and today happens to be Underdog, Ugly Sweater, & Sangria Day (separately, of course). But this week, as has been our holiday tradition, we asked readers to weigh in with their favorite holiday movie.
Now, “...
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By Nevin E. Adams, JD | 12/20/2019
One of my favorite memories growing up was paging through Christmas catalogues – my favorite was the “Wish Book,” it was called – and going through it looking for the things that I hoped Santa, and then later, my parents, would bring.
After struggling for possession of the catalogue, my brother...
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By Nevin E. Adams, JD | 12/17/2019
A few years back — well, now it’s quite a few years back — when my kids still believed in the reality of Santa Claus, we discovered an ingenious website that purported to offer a real-time assessment of their “naughty or nice” status.
Now, as Christmas approached, it was not uncommon for us to...
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By Nevin E. Adams, JD | 12/16/2019
Hannukkah’s less than a week away, Christmas is right around the corner, and today happens to be National Chocolate Covered Anything Day (hey, you just missed National Cat Herders Day) – and with all that, this week, as has been our holiday tradition, I’d like to know: What is your favorite holiday...
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By Nevin E. Adams, JD | 12/13/2019
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 Uniontown, Pennsylvania, Sunny Ray Firestone, 32, went shopping at her local Walmart… and by “shopping,” I mean that she was shop-LIFTING… filling a shopping cart...
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By Nevin E. Adams, JD | 12/13/2019
A recent survey found significant disconnects between employers and advisors when it came to the use of health savings accounts (HSAs) for retirement. This week, we asked readers how, if, and how long HSAs are fitting in with their focus!
Of course, there has been a growing interest in the...
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By Nevin E. Adams, JD | 12/12/2019
The feds said the Supreme Court didn’t need to bother with a case involving the burden of proof in an ERISA case – but the petitioners in the case say they have a bias.
The petitioners in this case are Putnam Investments, LLC, and they had asked for a Supreme Court review of the case to resolve...
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By Nevin E. Adams, JD | 12/10/2019
A federal judge says the terms are a “fair, reasonable, and adequate settlement and compromise of the claims asserted in the Class Action.”
The terms of the settlement (approved on Dec. 5, Velazquez v. Mass. Fin. Servs. Co., D. Mass., No. 1:17-cv-11249, 12/5/19) were announced in mid-June, and...
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By Nevin E. Adams, JD | 12/10/2019
Earlier this year, I commented that it would be interesting to see how expanded access to hardship withdrawals might impact that activity. Now we have some answers.
There’s more than a little irony in a legislative body that has long bemoaned both the paucity of retirement savings and the...
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By Nevin E. Adams, JD | 12/9/2019
A recent survey found significant disconnects between employers and advisors when it came to the use of health savings accounts for retirement. This week, we’d like to know how – or if – HSAs are fitting in with your practice.
The survey of 270 benefits professionals and employers found that 90%...
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By Nevin E. Adams, JD | 12/9/2019
A member of the class in an excessive fee suit has challenged the $2.2 million plaintiffs’ counsel fee – and claimed that her recovery will be less than the value of free coffee she received at work during the litigation.
The challenge was made to the $6.8 million settlement struck in a suit ...
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By Nevin E. Adams, JD | 12/6/2019
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 Altamonte Springs, Florida, Julio Aguirre, 17, had connected with Jamian Rivera and Isiah Irons over Snapshot… and arranged to meet with him outside the Imperial...
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By Nevin E. Adams, JD | 12/6/2019
It’s a question I get asked all the time – and this week, I asked NAPA-Net readers what their plan sponsor clients think – and do – when it comes to the balances of former participants.
Over the years, I’ve read – and heard – conflicting opinions. The “rational” side seems to argue that you should...
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By Nevin E. Adams, JD | 12/5/2019
The parties in another excessive fee suit have come to terms – on the day they were scheduled to go to trial.
The suit, filed in January 2016 in the District of Colorado by the law firm of Schlichter Bogard & Denton, alleged that Oracle allowed the plan’s recordkeeper (Fidelity) to be paid...
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By Nevin E. Adams, JD | 12/3/2019
Shopping for a new provider is not something one would normally equate with a Black Friday foray or a Cyber Week scramble. But if you have a plan sponsor — or plan sponsor prospect — who’s thinking about shopping for a new provider, here are some ideas to share.
Make a list — and yes, check it...
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By Nevin E. Adams, JD | 12/3/2019
Seven months ago, the United States Supreme Court asked the Solicitor General of the United States to weigh in on a case with significant implications for the burden of proof in ERISA lawsuits. Now they have.
In a 28-page “friend of the court” brief (Putnam Investments, LLC v. Brotherston, U.S.,...
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By Nevin E. Adams, JD | 12/2/2019
It’s a question I get asked all the time – this week, I’d like to know what your plan sponsor clients think – and do – when it comes to the balances of former participants.
Over the years, I’ve read – and heard – conflicting opinions. The “rational” side seems to argue that you should encourage...
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By Nevin E. Adams, JD | 11/26/2019
The nation’s highest court has turned down a plaintiff’s petition to reconsider an appellate court’s decision in a class action suit involving 270,000 plan participants across more than 13,000 plans.
The suit was filed in 2015 by plaintiff John Teets, a participant in the Farmers’ Rice Cooperative...
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