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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 12/22/2014
Last week we asked readers to vote on the best — and worst — aspects of ERISA and its progeny. Rather than just asking to pick one, readers had an opportunity to choose between two alternatives — or to suggest their own. In fact, three of the top five “worst” aspects of ERISA, and three of the top...
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By Nevin E. Adams, JD 12/19/2014
Festivus — the holiday “for the rest of us” — may have been popularized by Seinfeld, but it didn’t start there. The actual inventor of Festivus is Dan O'Keefe, 76, whose son Daniel, a writer on Seinfeld, reportedly “appropriated” a family tradition for the episode (“The Strike”) he wrote...
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By Nevin E. Adams, JD 12/17/2014
After what plaintiff’s attorneys describe as “more than 13 years of vigorously contested litigation,” Nationwide has moved to settle a revenue sharing lawsuit for an enormous $140 million. Originally filed in August 2001, the lawsuit alleged that Nationwide received undisclosed revenue sharing...
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By Nevin E. Adams, JD 12/17/2014
Another 401(k) revenue sharing lawsuit moved toward settlement this week — hours before the trial was scheduled to begin. Lockheed Martin Corp. agreed on Dec. 16 to settle a federal class-action lawsuit that had alleged the firm’s retirement plans charged excessive fees to more than 100,000...
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By Nevin E. Adams, JD 12/16/2014
In recent years, the notion that the ways in which choices are presented to individuals — known as “choice architecture” — can influence their decisions, has been widely embraced. Well before the advent of the Pension Protection Act of 2006, the retirement plan industry had acknowledged the...
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By Nevin E. Adams, JD 12/15/2014
In this, the year of the 40th anniversary of the signing into law of the Employee Retirement Income Security Act (ERISA), many have weighed in on the best — and the worst — aspects of that legislation and its progeny. As 2014 draws to a close, we’re giving you the opportunity to weigh in on the...
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By Nevin E. Adams, JD 12/10/2014
At a recent event, one of the speakers was taking our industry to task for expecting too much from participants. “We don’t expect individuals to diagnose and treat their own illness,” he said, going on to note that with 401(k)s we expect people who don’t have any knowledge or training in...
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By Nevin E. Adams, JD 12/9/2014
Plan sponsors have a lot on their minds — but what are they most concerned about? While concerns about employees not saving enough for retirement topped the list of plan sponsors’ concerns, only 16% were extremely concerned about it, and another third (33%) were very concerned. According to a...
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By Nevin E. Adams, JD 12/8/2014
A recent survey of plan sponsors reveals that providing access to a financial advisor is an important factor in encouraging employees to save — but not the most important one. According to a survey of plan sponsors by American Century, a matching contribution was the most important action a plan...
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By Nevin E. Adams, JD 12/8/2014
By a large bipartisan majority, the U.S. House of Representatives last week passed tax-extender relief legislation that would, among other things, impact multiemployer pension plan funding. The Tax Increase Prevention Act of 2014 (H.R. 5771) was supported by 202 Republicans and 176 Democrats —...
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By Nevin E. Adams, JD 12/8/2014
When plan sponsors were asked recently how they felt their organizations did on several key plan success measures, overall participation rate ranked highest, and was most commonly measured. Participant outcomes did not fare so well. Regarding overall participation rates as a measure, 18% of plan...
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By Nevin E. Adams, JD 12/5/2014
By at least one measure, true love could cost a little more this holiday season. The 2014 PNC Christmas Price Index, based on the cost of the gifts recited in the holiday classic, “The Twelve Days of Christmas,” rose just 1% from a year ago, though it would still cost you $27,673.22 in 2014. Still...
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By Nevin E. Adams, JD 12/2/2014
This may be the time of year when thoughts turn to stockings hung by the chimney with care, but it’s also the time of year when parents have to deal with assembling some of the things in those packages. And while Santa may have elves on staff to undertake the construction of a tricycle, dollhouse...
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By Nevin E. Adams, JD 12/2/2014
Does your retirement plan have a qualified default investment alternative (QDIA)? Have you worked with plan sponsors who have, or who have considered, adopting a QDIA? What type of QDIA was selected, and why? If you’ve gone through that process, the Government Accountability Office (GAO) wants to...
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By Nevin E. Adams, JD 11/24/2014
Thanksgiving has been called a “uniquely American” holiday, and one on which it seems fitting to reflect on all for which we should be thankful. Here’s my 2014 list: I’m thankful that retirement plan coverage and participation is up, if slightly, and that there seems to be a expanding national...
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By Nevin E. Adams, JD 11/21/2014
The Oxford Dictionaries recently declared that “vape” was its Word of the Year. If you’re unfamiliar with “vape,” it means “to inhale and exhale the vapor produced by an electronic cigarette or similar device.” The Oxford Dictionaries’ Word of the Year is a word or expression that Oxford editors...
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By Nevin E. Adams, JD 11/20/2014
The Government Accountability Office (GAO) published its final report on Individual Retirement Accounts (IRAs), offering some recommendations for Congress and the IRS on so-called “mega” IRAs. As had the agency’s preliminary reports on IRAs, the new report notes that a small number of taxpayers has...
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By Nevin E. Adams, JD 11/20/2014
Those who don't have a retirement plan had better figure out a plan B for retirement, because a new study suggests that they're more likely to misjudge their expected retirement date. While a number of studies have found a gap in retirement expectations, a new analysis by the Employee Benefit...
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