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Nevin E. Adams, JD
By Nevin E. Adams, JD | 11/6/2019
Today we are proud to announce the nominees for our seventh annual NAPA Top Young Retirement Plan Advisors award.
Established in 2014, the list is drawn from nominations provided by NAPA Broker-Dealer/RIA Firm Partners and vetted by a blue ribbon panel of senior advisor industry experts based on a...
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By Nevin E. Adams, JD | 11/5/2019
You’re part of something special.
Not just because you’re in the business of helping Americans prepare for a successful retirement (though that’s also special), not just because you make a difference in the people’s lives (though there’s that) – not even because you’ve stopped here long enough to...
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By Nevin E. Adams, JD | 11/4/2019
A TPA can be a plan advisor’s best friend. But it’s important to understand the various types of TPAs and how to best leverage them depending on the plan profile and size.
The “third-party” harkens back to a realization that these firms, as with recordkeepers generally, provide services to a plan...
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By Nevin E. Adams, JD | 11/1/2019
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 Watsonville, California, Steven Vitela, 21, was driving his Chevy Tahoe one early Sunday morning recently… when, apparently being somewhat inebriated, he lost control...
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By Nevin E. Adams, JD | 11/1/2019
Yesterday was, of course, Halloween – but even with 2019 trick-or-treating behind us, we’ve got some good recommendations on movies (and stories) that will have you on the edge of your seat…
Most Viewed
We started by sharing a loooong list of favorite scary movies – although, oddly, we appear to...
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By Nevin E. Adams, JD | 10/31/2019
What’s a plan fiduciary to do when a participant’s designated beneficiary is responsible for the participant’s death?
That was the case in Estate of Brownell v. Lyczak (D.N.J., No. 18-16803, 10/25/19). As it turns out, on Dec. 30, 2017, Colleen Brownell was killed; on Feb. 1, 2019 the defendant in...
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By Nevin E. Adams, JD | 10/30/2019
In a case with huge implications for the impact of plan disclosures on starting the clock on the timing of filing suit in ERISA cases, the federal government says that “actual knowledge” means just that.
In an amicus brief filed with U.S. Supreme Court, U.S. Solicitor General Noel J. Francisco and...
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By Nevin E. Adams, JD | 10/30/2019
The terms of an excessive fee settlement are not only the largest to date – once again, they’re about more than money.
The suit – brought by five employees of Massachusetts Institute of Technology (MIT) and participants in the MIT Supplemental 401(k) Plan – was filed back in August 2016 as one of...
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By Nevin E. Adams, JD | 10/29/2019
Halloween is the time of year when one’s thoughts turn to trick-or-treat, ghosts and goblins, and things that go bump in the night. But what keeps – or should keep – plan fiduciaries up at night?
Well, there are the things like…
Changing Providers
Industry surveys routinely point to a certain...
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By Nevin E. Adams, JD | 10/29/2019
Yet another financial services firm has been charged with displaying “self-interest and disregard for participants by retaining high-cost, poorly performing proprietary mutual funds in the Plan.” And subsequent menu changes are being touted as evidence that the fiduciaries should have known better...
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By Nevin E. Adams, JD | 10/28/2019
Thursday is, of course, Halloween – as good a time as any to think about things that go bump in the night – or that make us jump out of our seats. So, of course, it’s time for our annual poll of the scariest movies – and this year, we have a new item to consider.
Goodness knows, the Halloween...
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By Nevin E. Adams, JD | 10/28/2019
In what was described as “an excellent result and in Class members’ best interests,” the parties in an excessive fee suit involving both a 401(k) and 403(b) plan have come to terms.
The suit involved the 401(k) and 403(b) plans of Allina Health System, which have nearly $2.3 billion in assets and...
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By Nevin E. Adams, JD | 10/28/2019
It’s not every day that issues presented by ERISA cases make it to the U.S. Supreme Court – but after more than two years without one, we’ll see three ERISA cases come before the nation’s highest court this term.
Is No (Actual) Harm a Foul? (Thole v. U.S. Bank, N.A.)
The first of the cases (...
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By Nevin E. Adams, JD | 10/25/2019
A new report finds “substantial” demand for CITs, alongside a growing interest in fund classes with no revenue sharing.
A new report by Sway Research finds that, asked to rate the demand and need for an array of retirement-specific mutual fund share classes, most asset management firms now feel...
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By Nevin E. Adams, JD | 10/25/2019
A federal judge has approved a settlement of another of the 403(b) university excessive fee suits.
Chief Judge Waverly D. Crenshaw Jr. of the U.S. District Court for the Middle District of Tennessee has signed off (Cassell v. Vanderbilt, M.D. Tenn., No. 3:16-cv-02086, 10/22/19) on the $14.5...
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By Nevin E. Adams, JD | 10/25/2019
The 2019 Fall Classic is underway – so how are NAPA-Net readers feeling about the outcome?
Well, the Washington Nationals are up 2 games to 0 over the Houston Astros, and while the series is far from over, at the moment a majority of NAPA-Net reader poll respondents are surely disappointed; 56%...
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By Nevin E. Adams, JD | 10/24/2019
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 Fayetteville, Arkansas, Megan Osborne, 38, and Jordan Trujillo, 28, and their unnamed roommate apparently had some form of disagreement… which, apparently, resulted...
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By Nevin E. Adams, JD | 10/22/2019
A new report by Alight Solutions, LLC reveals some eye-opening findings about how some 2.5 million target-date fund investors are saving – and investing.
The report, titled five surprising facts about target-date funds, winds up being a report perhaps more aptly titled “five surprising facts about...
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By Nevin E. Adams, JD | 10/21/2019
And now we know – it will be the Houston Astros against the Washington Nationals in the 2019 World Series. So who – or what – will you be rooting for – or against?
As anyone who lives within earshot of the nation’s capital can tell you, the Nationals swept the St. Louis Cardinals in four games to...
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By Nevin E. Adams, JD | 10/18/2019
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 El Dorado Hills, California, Shaun McGuire, 37, was broke into a home here (that was not his own)… but the really unusual part was how he was dressed…
In Columbus,...
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