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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 3/1/2019
This is (was?) America Saves Week. While most of us think about saving – and help others save – all year long, this week has been set aside as “an annual event to encourage more Americans to save effectively.” This week we asked NAPA-Net readers to weigh in.
Okay, so technically the week isn’t...
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By Nevin E. Adams, JD 2/27/2019
Another settlement has been announced in the series of university 403(b) plan excessive fee suits.
The latest settlement (Cassell v. Vanderbilt Univ., M.D. Tenn., No. 3:16-cv-02086, status report 2/25/19) involved Vanderbilt University, where fiduciaries of Vanderbilt’s $3.4 billion (as of 2014)...
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By Nevin E. Adams, JD 2/26/2019
This is, of course, America Saves Week. And while there are plenty of good reasons to save, we all know that it can be tough to start. But in that spirit, here are four things that those who aren’t (yet) saving for retirement should know.
It’s never too late to start saving for retirement....
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By Nevin E. Adams, JD 2/25/2019
This is America Saves Week. While most of us think about saving – and help others save – all year long, this week has been set aside as “an annual event to encourage more Americans to save effectively.”
More specifically, America Saves Week (Feb. 24–March 2) “encourages Americans to ‘take the...
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By Nevin E. Adams, JD 2/25/2019
A 401(k) plan participant claims a fund supermarket fee structure amounts to hidden fees designed to shore up revenues lost due to the increased use of passive and non-revenue sharing funds.
The suit, brought as a potential class action by Andre W. Wong, a participant in the T-Mobile USA, Inc....
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By Nevin E. Adams, JD 2/24/2019
The parties in an excessive fee suit have now “licked” the concerns of a federal judge concerning terms of the $500,000 settlement with a simple, yet potentially significant modification.
While excessive fee litigation is hardly uncommon these days (though it involves an incredibly small number of...
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By Nevin E. Adams, JD 2/22/2019
This week, a NAPA-Net reader poses an intriguing question: “How often do you meet with DCIO and recordkeeper wholesalers?”
A recent NAPA-Net article by Rebecca Hourihan carried the compelling title, “‘We Don’t Meet with Wholesalers’ But Here’s Why You Should,” highlighting those benefits,...
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By Nevin E. Adams, JD 2/22/2019
Last week we launched a new NAPA-Net. This week we’ll point out some of the features. Today’s focus – Events & Education.
Two of the most popular areas of the NAPA-net website (besides the news content) are our Events page and the Education tab. The former is a quick way to check in on...
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By Nevin E. Adams, JD 2/21/2019
Last week we launched a new NAPA-Net. This week we’ll point out some of the features. Today’s focus – the magazine.
It’s pretty normal for magazines to expand into a web site. But NAPA-Net did just the opposite; we actually had a website (and email newsletter) before we had a magazine.
And while...
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By Nevin E. Adams, JD 2/21/2019
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 Juneau County, Wisconsin, department of Transportation officials have noted that “whiteout conditions are dangerous," and reminded drivers to please slow down and...
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By Nevin E. Adams, JD 2/21/2019
When we say the agenda for the NAPA 401(k) Summit is built by advisors for advisors – we mean it. And this year’s agenda – like the attendance – is one for the record books.
This year’s agenda is chock full of workshops on practice management, business development, plan design innovations, the...
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By Nevin E. Adams, JD 2/20/2019
“Fiduciaries that manage employer-sponsored benefits plans will likely get sued no matter what they do.” Thus begins a request from a number of retirement industry groups – including the American Retirement Association – that the U.S. Supreme Court weigh in on a controversial fiduciary case.
Said...
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By Nevin E. Adams, JD 2/20/2019
Last week we launched a new NAPA-Net. This week we’ll point out some of the features. Today’s focus – Industry Intel.
Our expanded “industry intel” tab brings together a wide-ranging assortment of materials that summarize the latest industry developments – what’s happening, and who’s making it...
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By Nevin E. Adams, JD 2/20/2019
Terms of an excessive fee settlement announced late last year have been submitted for court approval.
The terms, struck after “more than two years of litigation, multiple dispositive and discovery motions, a contested class certification motion, complete document, deposition, and expert discovery...
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By Nevin E. Adams, JD 2/19/2019
A recent headline in The Wall Street Journal started off: “Forget the 401(k).” And then, unintentionally, proceeded to explain why that would be… nuts.
Not that the author (Jason Zweig) didn’t throw in some digs at the subject, making a glancing reference to what he termed “the rigid and often...
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By Nevin E. Adams, JD 2/18/2019
Last week we launched a new NAPA-Net. This week we’ll point out some of the features. Today let’s look at the new “news” menu.
Most readers rely on “the daily” NAPA-Net to curate and thus highlight the most important information each day. But sometimes you’re looking for a particular article, and...
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By Nevin E. Adams, JD 2/18/2019
This week, a NAPA-Net reader poses an intriguing question: “How often do you meet with DCIO & recordkeeper wholesalers? Who makes the cut?”
A recent NAPA-Net article by Rebecca Hourihan carried the compelling title, “‘We Don’t Meet with Wholesalers’ But Here’s Why You Should,” highlighting...
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By Nevin E. Adams, JD 2/15/2019
Roughly a year ago, the Bipartisan Budget Act of 2018 brought with it some “loosening” of the rules pertaining to hardship distributions, effective for plan years starting after Dec. 31, 2018. But while the word has gotten out, readers aren’t yet seeing much impact.
Recall that, generally speaking...
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By Nevin E. Adams, JD 2/14/2019
We've moved to a new web platform – and for the first time since our 2013 launch, a new look.
As you can see, the new website is cleaner, more modern, and certainly better when viewed on a mobile device, as a growing number of NAPA-Net readers do.
While we have retained nearly all of the...
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By Nevin E. Adams, JD 2/14/2019
For the second time in about as many weeks, an excessive fee suit against the fiduciaries of a university 403(b) plan has been dropped.
The original suit had been filed by two participants on behalf of some 4,000 participants in the 403(b) plan of Long Island University. The plaintiffs claimed that...
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