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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 3/12/2015
A trio of New Jersey lawmakers has sponsored legislation that would create individual retirement accounts for employees of firms in the state with at least 25 workers who lack access to an employer-provided retirement plan.The bill (A-4275) was introduced by Assembly Speaker Vincent Prieto and...
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By Nevin E. Adams, JD 3/11/2015
Floridians who take loans against their retirement plans have to pay a state tax on those distributions. But the Florida House of Representatives is considering a bill that could affect that tax treatment.State Rep. W. Gregory Steube (R-73) in January introduced HB 101, a measure that would exempt...
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By Nevin E. Adams, JD 3/10/2015
A growing number of retirement plan participants — and retirement plan assets — are being invested in the default option selected for the plan.The existence of default funds isn’t exactly a new phenomenon. Arguably it’s as old as that first participant enrollment form returned without the...
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By Nevin E. Adams, JD 3/5/2015
What do NAPA Net readers want to talk about? Plan sponsors.More specifically, “what drives plan sponsors to act,” according to our most recent reader poll, where we asked NAPA Net readers: If you had a chance to sit down with a group of advisors, what would you most like to talk about?As it turns...
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By Nevin E. Adams, JD 3/3/2015
Ours is a complex business. For one thing, it’s fraught with potential peril for inattentive plan fiduciaries, many of whom find themselves tasked with the responsibilities of the role (frequently as part of a much wider range of responsibilities) with little in the way of background, training or...
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By Nevin E. Adams, JD 2/27/2015
Think you’ve had a bad week? It could have been worse. Check out what happened to these guys….
In Edinburgh, Scotland, Mariano Colsa-Gonzalez, 35, was so out of it that he didn’t even realize he had climbed into an unmarked police car. And then things got REALLY weird.
Michael J. Cassano,...
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By Nevin E. Adams, JD 2/27/2015
The Labor Department’s fiduciary reproposal isn’t the only fiduciary-related comeback news on Capitol Hill this week.Rep. Ann Wagner (R-Missouri) has reintroduced the Retail Investor Protection Act (RIPA) in the U.S. House of Representatives, and in doing so, pushed back on President Obama’s recent...
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By Nevin E. Adams, JD 2/26/2015
If the Government Accountability Office (GAO) has its way, plan sponsors will have a new reporting obligation to the Department of Labor.Specifically, GAO recommends that DOL improve oversight by requiring plan sponsors to notify the agency when they implement lump sum windows, and coordinate with...
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By Nevin E. Adams, JD 2/26/2015
NAPA Net readers didn’t have to look very far to identify the biggest impediment to the adoption of lifetime income solutions in defined contribution plans.The top voted response in this week’s poll was “their advisor doesn’t like/trust the products.” The second most cited response? “Advisors...
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By Nevin E. Adams, JD 2/24/2015
Over the course of my career, I’ve had the opportunity to participate in any number of “projects,” and to manage more than a few.
Some were explicitly tagged as such at the start, while others simply expanded to fit that name. Most of those projects turned out well; others faded into the woodwork...
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By Nevin E. Adams, JD 2/23/2015
Today President Obama, as expected, will throw his support behind the Department of Labor’s controversial fiduciary rule reproposal — but the details of the proposal remain elusive.Published reports indicate that the president will tout the reproposed rule at a speech today at the offices of AARP...
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By Nevin E. Adams, JD 2/23/2015
Exceptions should not be the rule, at least not when it comes to the Department of Labor’s fiduciary regulation reproposal, according to a new white paper from the U.S. Chamber of Commerce.As part of a Feb. 20 event focusing on the “potential harmful impact of fiduciary regulation on investors,”...
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By Nevin E. Adams, JD 2/21/2015
The Department of Labor’s much-anticipated fiduciary reproposal drew intense criticism Feb. 20 from SEC Commissioner Daniel M. Gallagher.Gallagher’s comments, made at the “SEC Speaks in 2015” event, were particularly harsh — not only regarding the potential impact of the DOL’s proposed extension of...
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By Nevin E. Adams, JD 2/20/2015
On Sunday the 87th Academy Awards will honor what is said to be the best films of 2014, but the NAPA Net reader “academy” has already weighed in.Now, for fun, I threw in the nominees for worst picture that will be “acknowledged” on Saturday at the 35th annual Golden Raspberry Awards. These remained...
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By Nevin E. Adams, JD 2/16/2015
Next Sunday the 87th Academy Awards will honor what are said to be the best films of 2014.Perhaps less well known is the event that will precede it by a day, the 35th annual Golden Raspberry Awards, bestowed on the worst that Hollywood has seen fit to inflict on the viewing public over the past...
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By Nevin E. Adams, JD 2/12/2015
Let me be perfectly clear: Even from a 30,000 foot view, that is not in our wheelhouse, and at the end of the day we just need to bring our ‘A’ game and think outside the box to achieve synergy.Sound familiar? Well, perhaps not all strung together like that, but as we all know, these days it’s...
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By Nevin E. Adams, JD 2/10/2015
It has become something of an article of faith in our industry that “leakage,” the distribution of money from retirement accounts prior to retirement, is bad. Bad, of course, in the sense that those “premature” withdrawals, via hardship withdrawals, loans or the so-called “deemed distributions”...
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By Nevin E. Adams, JD 2/9/2015
It’s almost impossible to have a meeting, make a presentation, or even have a business-related conversation without being bombarded by … buzzwords. It’s gotten so bad, in fact, that there are actually “buzzword bingo” apps available to help you stay awake (if not engaged) in that next synergystic...
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By Nevin E. Adams, JD 2/6/2015
There are many reasons why an employer of any size might choose not to offer a retirement plan at any particular time, but the coverage gap among smaller employers has drawn particular attention.In fact, last week companion bills were introduced in the House and Senate intended to, among other...
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By Nevin E. Adams, JD 2/5/2015
There’s been plenty of talk about the need to save more for retirement, increase participation in retirement plans and heighten awareness about the need to be ready to support oneself in one’s “golden years.” Have you considered that we hold — right in the palms of our hands — a means to address...
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