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Portal Conductor, Columnist: Nevin E. Adams, JD
Nevin is the former Chief Content Officer and Head of Retirement Research for the American Retirement Association. One of the retirement industry’s most prolific writers, these days he’s “retired,” which means he writes less, but continues to keep his eye on developments in, and threats to, the nation’s private retirement system.
In addition to helping guide the agenda development for the NAPA 401(k) Summit, he’s also the “Nevin” in the Nevin & Fred podcast (along with renowned ERISA attorney Fred Reish), offering irreverent, but relevant perspectives on the critical issues confronting plan sponsors, advisors, and retirement industry professionals.
Article Index
By Nevin E. Adams, JD 7/7/2023
We’ve gotten more than 6,000 votes to date on proposed topics for the 2024 NAPA 401(k) Summit—in three major categories. And there’s been a LOT of jostling in the rankings!
Lest you forget—the 2024 NAPA 401(k) Summit will be held April 7-9 in Nashville, Tennessee. You’ll definitely want to mark...
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By Nevin E. Adams, JD 7/6/2023
With a growing focus on the fiduciary responsibilities for healthcare plans, a national employer is suing Aetna for breaching its fiduciary duties in approving and paying “false, fraudulent, and improper claims”—and for withholding information that would allow a review of those practices.
The...
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By Nevin E. Adams, JD 7/3/2023
You’ve heard us say that the agenda for the NAPA 401(k) Summit is put together for advisors by advisors—well, here’s your opportunity to weigh in (again)—this time on business building topics!
That’s right, once again this year we’ve teed up a good assortment of potential topics for you to...
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By Nevin E. Adams, JD 7/3/2023
A federal magistrate judge has recommended curtailment of a key rollover provision of the Labor Department’s investment advice regulation.
The recommendation of U.S. Magistrate Judge Rebecca Rutherford comes in a 75-page “findings, conclusions, and recommendations” in response to a suit filed last...
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By Nevin E. Adams, JD 6/30/2023
Well, here we are again at the end of yet another workweek—and month, and halfway through 2023—and yet, just look at what happened to these guys and gals…
First, some odds and ends…
From Tucson, Arizona, we bring you Scooter…this year’s world’s ugliest dog…
And now we give you…Dracula...
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By Nevin E. Adams, JD 6/30/2023
The allegations in a new excessive fee suit are familiar—but the plaintiff has clearly been attentive to pleading failures that have led to other, similar cases being dismissed.
Commenting that “the proliferation of 401(k)plans has exposed workers to big drops in the stock market and high fees...
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By Nevin E. Adams, JD 6/30/2023
We’ve gotten more than 6,000 votes to date on proposed topics for the 2024 NAPA 401(k) Summit—in three major categories. And there’s been a LOT of jostling in the rankings!
Lest you forget—the 2024 NAPA 401(k) Summit will be held April 7-9 in Nashville, Tennessee. You’ll definitely want to mark...
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By Nevin E. Adams, JD 6/29/2023
One of the first excessive fee suits filed against university 403(b) plans has (finally) come to a conclusion with a jury verdict in favor of the fiduciary defendants—with an odd twist (or two).
The suit against Yale University was one of the first to be filed in this area—and by Schlichter Bogard...
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By Nevin E. Adams, JD 6/28/2023
Collective investment trusts (CITs) have often been touted as superior (less expensive) alternatives to mutual funds in excessive fee suits—but a settlement has been struck in a case alleging excessive fees and poor performance of those alternatives.
Just weeks before the case was slated to go to...
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By Nevin E. Adams, JD 6/27/2023
A week from today the nation will celebrate Independence Day—though of course independence didn’t actually occur on July 4.
Let’s face it, the Declaration of Independence[i] was little more than that—a declaration. One that had yet to be backed by anything beyond the artfully crafted and narrow...
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By Nevin E. Adams, JD 6/26/2023
Another target-date fund family has been…targeted…in a fiduciary breach suit that claims plan fiduciaries failed to prudently review—and remove—underperforming target-date funds.
The target-date funds in question this time are the JPMorgan SmartRetirement series, while the plans in question are...
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By Nevin E. Adams, JD 6/26/2023
You’ve heard us say that the agenda for the NAPA 401(k) Summit is put together for advisors by advisors—well, here’s your opportunity to weigh in (again)—this time on team building topics!
That’s right, once again this year we’ve teed up a good assortment of potential topics for you to consider...
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By Nevin E. Adams, JD 6/23/2023
Well, here we are again at the end of yet another workweek—and yet, just look at what happened to these guys and gals…
First, some odds and ends…
Remember that iconic scene in Ferris Bueller’s Day Off where the parking attendants go for a joyride? Well, near Bristol, UK—and more precisely at the...
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By Nevin E. Adams, JD 6/23/2023
We’ve gotten nearly 5,000 votes to date on proposed topics for the 2024 NAPA 401(k) Summit—in two major categories.
Lest you forget—the 2024 NAPA 401(k) Summit will be held April 7-9 in Nashville, Tennessee. You’ll definitely want to mark your calendars for this one! As for the agenda for that...
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By Nevin E. Adams, JD 6/20/2023
I recently ran across a survey that claimed 7 in 10 DC plan sponsors were “taking steps” to solve the retirement income challenge… but that looks to have been “aspirational.”
While the survey’s[i] intro cautioned that there was more to be done, that struck me as a remarkably high (and reassuring)...
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By Nevin E. Adams, JD 6/20/2023
You’ve heard us say that the agenda for the NAPA 401(k) Summit is put together for advisors by advisors—well, here’s your opportunity to weigh in!
That’s right, once again this year we’ve teed up a good assortment of potential topics for you to consider and vote on via our unique “cage match”...
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By Nevin E. Adams, JD 6/20/2023
Finding that, as in baseball, “three strikes and you’re out,” an excessive fee suit has been dismissed—with prejudice.
Participant-plaintiff Drew Mateya[i] had filed suit against Cook Group Incorporated and Cook Group Profit Sharing Plan Advisory Committee for violating 29 U.S.C. § 1104(a)(1)(B)—...
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By Nevin E. Adams, JD 6/16/2023
Well, here we are again at the end of yet another workweek—and yet, just look at what happened to these guys and gals…
First, some odds and ends…
Have you got one of those drawers in your kitchen where you warehouse condiment packets? It could be worth some $$$...
In Lakeland, Florida,...
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By Nevin E. Adams, JD 6/16/2023
Things have changed a lot in the past decade—what does YOUR crystal ball look like for the future?
We’ve gotten nearly 3,000 votes to date on proposed topics for the 2024 NAPA 401(k) Summit—and “Retirement Industry of 2030” is leading the list at the moment.
Don’t forget—the 2024 NAPA 401(k)...
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By Nevin E. Adams, JD 6/15/2023
Another of the suits alleging that plan fiduciaries “chased” low fees and disregarded poor performance has been dismissed, though not with “prejudice.”
These suits have also been filed on behalf of participants in the 401(k) plans of Citigroup Inc., Cisco Systems Inc., Genworth, Stanley Black...
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