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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 10/28/2019
Thursday is, of course, Halloween – as good a time as any to think about things that go bump in the night – or that make us jump out of our seats. So, of course, it’s time for our annual poll of the scariest movies – and this year, we have a new item to consider.
Goodness knows, the Halloween...
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By Nevin E. Adams, JD 10/28/2019
In what was described as “an excellent result and in Class members’ best interests,” the parties in an excessive fee suit involving both a 401(k) and 403(b) plan have come to terms.
The suit involved the 401(k) and 403(b) plans of Allina Health System, which have nearly $2.3 billion in assets and...
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By Nevin E. Adams, JD 10/28/2019
It’s not every day that issues presented by ERISA cases make it to the U.S. Supreme Court – but after more than two years without one, we’ll see three ERISA cases come before the nation’s highest court this term.
Is No (Actual) Harm a Foul? (Thole v. U.S. Bank, N.A.)
The first of the cases (...
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By Nevin E. Adams, JD 10/25/2019
A new report finds “substantial” demand for CITs, alongside a growing interest in fund classes with no revenue sharing.
A new report by Sway Research finds that, asked to rate the demand and need for an array of retirement-specific mutual fund share classes, most asset management firms now feel...
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By Nevin E. Adams, JD 10/25/2019
A federal judge has approved a settlement of another of the 403(b) university excessive fee suits.
Chief Judge Waverly D. Crenshaw Jr. of the U.S. District Court for the Middle District of Tennessee has signed off (Cassell v. Vanderbilt, M.D. Tenn., No. 3:16-cv-02086, 10/22/19) on the $14.5...
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By Nevin E. Adams, JD 10/25/2019
The 2019 Fall Classic is underway – so how are NAPA-Net readers feeling about the outcome?
Well, the Washington Nationals are up 2 games to 0 over the Houston Astros, and while the series is far from over, at the moment a majority of NAPA-Net reader poll respondents are surely disappointed; 56%...
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By Nevin E. Adams, JD 10/24/2019
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 Fayetteville, Arkansas, Megan Osborne, 38, and Jordan Trujillo, 28, and their unnamed roommate apparently had some form of disagreement… which, apparently, resulted...
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By Nevin E. Adams, JD 10/22/2019
A new report by Alight Solutions, LLC reveals some eye-opening findings about how some 2.5 million target-date fund investors are saving – and investing.
The report, titled five surprising facts about target-date funds, winds up being a report perhaps more aptly titled “five surprising facts about...
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By Nevin E. Adams, JD 10/21/2019
And now we know – it will be the Houston Astros against the Washington Nationals in the 2019 World Series. So who – or what – will you be rooting for – or against?
As anyone who lives within earshot of the nation’s capital can tell you, the Nationals swept the St. Louis Cardinals in four games to...
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By Nevin E. Adams, JD 10/18/2019
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 El Dorado Hills, California, Shaun McGuire, 37, was broke into a home here (that was not his own)… but the really unusual part was how he was dressed…
In Columbus,...
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By Nevin E. Adams, JD 10/18/2019
Target-date funds continue to garner a whole new generation of defaulted contribution flows – and yet, interest in, and deployment of, managed account solutions continues to grow. This week, we asked NAPA-Net readers about the balance – and the trends – behind these alternatives.
Despite a...
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By Nevin E. Adams, JD 10/17/2019
The parties in another excessive fee suit have apparently come to terms – on the day the case was scheduled to go to trial.
At least that’s what a report filed by mediator Margaret Levy suggests. The report, filed on Oct. 16, lists the case as fully settled as of Oct. 15, the date the parties...
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By Nevin E. Adams, JD 10/16/2019
The apparent “hack” of a 401(k) participant’s account has led to a suit against the plan sponsor, the recordkeeper and the plan trustee/custodian to recover the stolen funds.
The suit claims that in September and October 2016, an unknown person or persons managed to steal plaintiff Naomi Berman’s...
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By Nevin E. Adams, JD 10/15/2019
On Ken Fisher, the (ongoing) demise of pensions, a not-so-new push for paper, and a new industry “holiday.”
Speaking ‘Engagement’
By now, you’ve doubtless read (or heard) about the uproar caused by Ken Fisher’s comments at a recent industry conference. You’ve doubtless heard (or read) about the...
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By Nevin E. Adams, JD 10/14/2019
Target-date funds continue to garner a whole new generation of defaulted contribution flows – and yet, interest in, and deployment of, managed account solutions continues to grow.
Despite a plethora of options, the vast majority of target-date fund assets has wound up in the hands of a small...
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By Nevin E. Adams, JD 10/11/2019
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 Hoboken, New Jersey, Nicholas Cutrone, 26, wasn’t trying to go for a record… so he won’t be disappointed to find out he didn’t get one…
In Phoenix, Arizona, an...
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By Nevin E. Adams, JD 10/11/2019
A surprising amount of retirement savings turns into pre-retirement spending (and taxes) for no reason other than the complexity of the rollover process. This week, we asked NAPA-Net readers to weigh in.
We got a lot of responses this week (that’s what happens when a free registration to the 2020...
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By Nevin E. Adams, JD 10/10/2019
A “close call” on a jury trial in an excessive fee suit brought by its 401(k) plan participants has gone Fidelity’s way.
The suit was filed by plaintiffs Kevin Moitoso, Tim Lewis, and Mary Lee Torline exactly a year ago (Moitoso v. FMR LLC, D. Mass., No. 1:18-cv-12122, complaint filed 10/10/18) on...
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By Nevin E. Adams, JD 10/9/2019
Morgan Stanley has fended off a participant suit that a federal judge described as “opportunistic Monday-morning quarterbacking on the part of lawyers.”
In Patterson v. Stanley (2019 BL 384508, S.D.N.Y., No. 1:16-cv-06568-RJS, 10/7/19), U.S. Circuit Judge Richard J. Sullivan, sitting by...
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By Nevin E. Adams, JD 10/8/2019
I’ve never had very healthy eating habits – even as a child.
And while this wasn’t a concern of mine at the time, my parents were quite insistent that either I start taking vitamins or improve my eating habits. Figuring that it was the lesser of two “evils,” I went for the pill.
Well, until I saw...
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