A recent headline screamed that 401(k) savings rates have “stagnated” – but that’s missing the point. “Stagnated” in this case apparently means that the average savings rate in 2018 — both employee and employer contributions — was 10.6%, roughly the same as the 10.4% rate reported in the survey in... READ MORE

An excessive fee suit has been granted class action status in federal court. This time it’s a group of former participants in the JPMorgan Chase 401(k) Savings Plan, a plan that has approximately 266,000 to 300,000 participants and more than $14 billion in assets. Suit ‘Case’ In considering the... 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)…  Near Holly Hill, Florida, one Jesse Estep, 29, approached a mail carrier who was standing by her mail truck… pointed a canister of Mace at her and demanded the keys…... READ MORE

The nation’s highest court has just agreed to consider another ERISA case – this one involving a set of target-date fund investments – more precisely when the clock starts on the statute of limitations to file an ERISA lawsuit. It’s the second ERISA case the Supreme Court will consider this term,... READ MORE

The same appellate court responsible for an outlier result in an ERISA suit accepted by the nation’s highest court has just ruled on a similar case. The Second Circuit Court of Appeals, in an unpublished decision (O’Day v. Chatila, 2d Cir., No. 18-2621, unpublished 6/7/19) joined by Judges Gerard... READ MORE

Lifetime income options have been a hard sell for defined contribution plans – but the SECURE Act and the Senate’s RESA both take steps to improve the odds. This week, we asked NAPA-Net readers about their experience – and expectations. First off, it’s worth acknowledging that in the 2019... READ MORE

The U.S. Supreme Court will, once again, take up the issue of where, and how, to draw the line between the obligations of corporate officials and ERISA plan fiduciaries. Specifically, the Supreme Court has now decided (Ret. Plans Comm. of IBM v. Jander, U.S., No. 18-1165, certiorari granted 6/3/19... READ MORE

Plan fiduciaries who have already prevailed on most claims in an excessive fee suit have now won their motion on denying plaintiffs a jury trial. In a curt ruling (Troudt v. Oracle Corp., D. Colo., No. 1:16-cv-00175-REB-SKC, 5/30/19), Judge Robert E. Blackburn of the U.S. District Court for the... 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 Yarmouth, Massachusetts, officers responding to a report of a BMW driving at a high rate of speed around 7:00 a.m. found Sean Dailey, 36, asleep in the driver’s seat... READ MORE