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Nevin E. Adams, JD
By Nevin E. Adams, JD | 9/9/2019
We’re (already) planning for 2020 – and for this week’s NAPA-Net Reader Poll, we’d like you to tell us what you think about… NAPA-Net. Oh, and if you’re among the first 100 to respond, you’ll be entered in a lottery to receive a free registration to the 2020 NAPA 401(k) Summit!
Since you’re...
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By Nevin E. Adams, JD | 9/9/2019
The excessive fee suit involving MIT has survived another round of summary judgment motions – and is headed to trial – but it will do so without testimony from Fidelity CEO Abby Johnson.
The plaintiffs in this case are five employees of Massachusetts Institute of Technology (MIT) and participants...
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By Nevin E. Adams, JD | 9/6/2019
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 Myrtle Beach, South Carolina, an unnamed individual loaned his Jeep to his cousin… who thought it would be cool to go on the beach… and take a quick video of the...
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By Nevin E. Adams, JD | 9/5/2019
Plaintiffs claim the supermarket chain has one of the most expensive jumbo 401(k) plans in the country.
Plaintiffs Francisco Meza (a current participant) and Marvin Montgomery (a former participant) of the $2.5 billion H-E-B Savings & Retirement Plan filed suit (Montgomery v. H.E. Butt Grocery...
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By Nevin E. Adams, JD | 9/3/2019
Those “kids” who were just dropped off at college for the first time? By their sophomore year, their generation will constitute one-quarter of the U.S. population. How will their retirement be different?
That’s according to the authors of the so-called Mindset List – now housed at Marist College, ...
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By Nevin E. Adams, JD | 8/30/2019
Are you tracking profitability on a per-plan basis? A new report finds that a growing number of advisors are.
Advisors participating in the nation’s retirement plan advisor convention brought a lot to the sessions, networking, and – once again, shared valuable insights via an exciting new medium...
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By Nevin E. Adams, JD | 8/30/2019
One of the most frequently lamented challenges of working with participants is the lack of financial education, and resulting gaps in financial literacy. This week, we asked NAPA-Net readers what they’re seeing – and doing – to help close those gaps.
Most (59%) of this week’s respondents conduct...
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By Nevin E. Adams, JD | 8/29/2019
Another set of plaintiffs have filed suit about the target-date fund choices on their former employer’s investment menu.
The suit, filed in the U.S. District Court for the Middle District of Tennessee, was brought by Becky Kirk, Perry Ayoob and Dawn Karzenoski on behalf of the CHS/Community Health...
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By Nevin E. Adams, JD | 8/29/2019
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 Elk River, Minnesota, Jeffrey Scot Caouette, 63, was bothered by the attentions an unnamed man was showing his ex-girlfriend… and wanted to slow things down… Not sure...
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By Nevin E. Adams, JD | 8/28/2019
It’s not unusual for litigation, even class action litigation, to get “personal.” But new filings in an excessive fee case seem to taking things to a whole new level.
This case, Tracey v. Mass. Inst. of Tech., is one of the excessive fee suits filed against fiduciaries of a university retirement...
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By Nevin E. Adams, JD | 8/27/2019
I don’t know about you, but I’ve always had a certain ambivalence about what are generally termed “Hallmark holidays.”
You know the ones I’m talking about – the ones that seem crafted for the sole purpose of generating sales for greeting card sellers. Of course, after a while you no longer...
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By Nevin E. Adams, JD | 8/27/2019
An industry-leading benchmark study of non-qualified deferred compensation (NQDC) plans finds a shift in emphasis for what has become an increasingly critical benefit for key employees.
Employers have long provided access to NQDC plans to their management team and certain highly-compensated...
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By Nevin E. Adams, JD | 8/26/2019
One of the most frequently lamented challenges of working with participants is the lack of financial education and resulting gaps in financial literacy. This week, we’d like to know what you’re seeing – and what you’re doing – to help close those gaps.
We’re less than two weeks away from National...
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By Nevin E. Adams, JD | 8/26/2019
Perhaps no function is as integral to the successful operation of a plan as that of the recordkeeper – both good, and bad.
Advisors participating in the nation’s retirement plan advisor convention brought a lot to the sessions, networking, and – once again, shared valuable insights via an exciting...
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By Nevin E. Adams, JD | 8/26/2019
A former recordkeeper employee has been sentenced to four years in prison for stealing funds from dormant participant accounts.
United States Attorney William M. McSwain has announced that Scott Capps, 48, of Coatesville, Pennsylvania was sentenced to 48 months’ incarceration, three years’...
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By Nevin E. Adams, JD | 8/23/2019
These days most retirement plans offer a Roth contribution option – and yet few, if any, have that as a default – this week NAPA-Net readers weigh in on Roth.
Starting with the here and now, asked about their clients’ current Roth offerings, 35% said most of them offered Roth, 31% said “nearly all...
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By Nevin E. Adams, JD | 8/23/2019
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 Mission Viejo, California, an unnamed 26-year-old man was trying to fix not one, but two flat tires on an SUV… but what drew the interest of law enforcement was how...
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By Nevin E. Adams, JD | 8/21/2019
The Ninth Circuit has reversed a lower court decision, based on “intervening Supreme Court case law.”
The case (Dorman v. Charles Schwab Corp., 9th Cir., No. 18-15281, 8/20/19) involved Michael Dorman, a participant in the Schwab 401(k) plan, who wanted to bring suit against his former employer...
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By Nevin E. Adams, JD | 8/21/2019
Right on schedule, the Labor Department has sent a proposed rule for electronic disclosures to 401(k) participants to the White House’s Office of Management and Budget.
The proposal, “Improving Effectiveness of and Reducing the Cost of Furnishing Required Notices and Disclosures,” comes in...
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By Nevin E. Adams, JD | 8/20/2019
Retirement planning can be a complicated process – and surveys suggest that most workers haven’t even attempted a guess. But even those who have can overlook some pretty significant factors that can have a dramatic impact on retirement readiness.
Here are some critical factors that are easy to get...
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