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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 9/19/2019
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 Athens, Ohio, Tyler Uher, decided it would be fun to clamber up a 30-foot pole one recent Friday night, cheered on a by a crowd of students at a house party near Ohio...
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By Nevin E. Adams, JD 9/19/2019
The settlement terms of two fiduciary breach suits involving a 401(k) plan, its investment structure, plan consultant, and selection of target-date funds have been submitted for court approval.
The class settlement – reached between Safeway, Inc., its plan consultant (AON Hewitt Investment...
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By Nevin E. Adams, JD 9/17/2019
Financial literacy has long been touted as something of a “silver bullet” in helping workers make better financial decisions – and now there’s a call to make it a mandatory employment offering.
Now, we all know that lots of workers get their first (and for many only) exposure to financial markets...
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By Nevin E. Adams, JD 9/17/2019
A lawsuit challenging California’s auto-IRA program for private sector workers just got the backing of the federal government.
Last month the Department of Justice asked a federal court to hold off ruling on a suit challenging California’s auto-IRA program for private sector workers.
The Case at...
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By Nevin E. Adams, JD 9/16/2019
Seems like every week – and sometimes more than once a week – there’s a new suit filed against plan fiduciaries.
This week, we’d like to know what you think of the impact of the litigation – what, if any, specific aspects are most on the mind of the plan sponsors you work with – and has it...
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By Nevin E. Adams, JD 9/13/2019
Another of the university 403(b) excessive fee suits has settled – less than a week before its scheduled trial date.
While it is hardly the first to strike a deal just ahead of trial, it seems fair to say that this one has gone places in arguments and counter arguments that – thus far have been...
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By Nevin E. Adams, JD 9/13/2019
We’re (already) planning for 2020 – and for this week’s NAPA-Net Reader Poll, we asked readers to tell us what they think about… NAPA-Net.
Respondents to this week’s reader poll were, as you might expect, readers – and regular readers at that. Three-quarters read it every single day (though about...
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By Nevin E. Adams, JD 9/12/2019
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 High Springs, Florida, Mary Liane Fritz, 30, followed a woman… who said Mary was stalking her… to the High Springs Police Station here… Officers subsequently placed...
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By Nevin E. Adams, JD 9/12/2019
Last week we unveiled our sixth annual list of NAPA Top 100 Defined Contribution (DC) Wholesalers, as selected by the nation’s leading retirement plan advisors. Today we highlight the top 10 from that list in two categories: DCIOs and Recordkeepers.
We call them “Wingmen” because if they are doing...
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By Nevin E. Adams, JD 9/11/2019
Fiduciary defendants in an excessive fee suit have asked for a dismissal based on an arbitration agreement signed by the plaintiff.
Greystar Management Services LP has asked a federal court in Texas to dismiss the suit brought by former employee Sonia Torres. Torres filed suit in May, alleging the...
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By Nevin E. Adams, JD 9/10/2019
Most of the surveys and research in our industry focus on the shortcomings – a lack of savings, of diversity in investment, of failure to maximize the employer match, or to have access to the programs that support those opportunities. There is, however, a shortfall that doesn’t garner much...
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By Nevin E. Adams, JD 9/10/2019
Just when you thought the pre-trial drama in the MIT excessive fee suit was behind us – it wasn’t. And this time it involves Jeffrey Epstein.
As it turns out, MIT President Rafael Reif on Sept. 7, “in response to articles in The New Yorker and other periodicals,” issued a “Letter to the MIT...
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By Nevin E. Adams, JD 9/9/2019
We’re (already) planning for 2020 – and for this week’s NAPA-Net Reader Poll, we’d like you to tell us what you think about… NAPA-Net. Oh, and if you’re among the first 100 to respond, you’ll be entered in a lottery to receive a free registration to the 2020 NAPA 401(k) Summit!
Since you’re...
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By Nevin E. Adams, JD 9/9/2019
The excessive fee suit involving MIT has survived another round of summary judgment motions – and is headed to trial – but it will do so without testimony from Fidelity CEO Abby Johnson.
The plaintiffs in this case are five employees of Massachusetts Institute of Technology (MIT) and participants...
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By Nevin E. Adams, JD 9/6/2019
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 Myrtle Beach, South Carolina, an unnamed individual loaned his Jeep to his cousin… who thought it would be cool to go on the beach… and take a quick video of the...
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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...
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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, ...
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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...
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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...
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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...
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