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Nevin E. Adams, JD

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... READ MORE
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, ... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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’... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
By Nevin E. Adams, JD | 8/20/2019
The final order approving a $55 million settlement in an excessive fee case offers some compelling insights into the costs of litigation – on both sides. Noting that “this kind of litigation has made a “national contribution” in the clarification and refinement of a fiduciary’s responsibilities... READ MORE
By Nevin E. Adams, JD | 8/19/2019
Are you doing more business with – and through – third party administrators? If so, you’re not alone. 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: the NAPA... READ MORE
By Nevin E. Adams, JD | 8/19/2019
These days most retirement plans offer a Roth contribution option – and yet few, if any, have that as a default – and, perhaps as a consequence, relatively few savers make that choice. This week, we’d like to know – what, if anything, are you doing with Roths?  Specifically, we’re curious as to... READ MORE

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