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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 2/14/2019
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 Wichita, Kansas, police were called to a Home Depot store about 12:15 pm… Seems that an employee was answering nature’s call… when an unnamed man emerged from one of...
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By Nevin E. Adams, JD 2/12/2019
As Valentine’s Day approaches, you have perhaps seen those increasingly ubiquitous advertisements for a certain online florist.
Now, I’ve used that particular service on many an occasion over the past several years; they are not only convenient, they deliver a quality product, and on time. In sum...
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By Nevin E. Adams, JD 2/8/2019
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 Chicago, Illinois, the recent polar vortex and record-breaking low temperatures led some with way too much time on their hands to invent something called the “boiling...
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By Nevin E. Adams, JD 2/8/2019
A NAPA Net reader recently commented, “While I have an inkling of the trends with respect to revenue sharing, I'd like to understand what's really happening.” Here’s what NAPA Net readers told us.
Asked if the plans they worked with use/participate in revenue-sharing, a plurality – 37.5% – noted...
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By Nevin E. Adams, JD 2/6/2019
Exxon Mobil has prevailed a second time in fending off a suit that had alleged it imprudently not only kept, but continued buying employer stock when officials knew a drop in value was imminent.
In this case, the plaintiffs had alleged that Exxon’s public statements about the company’s financial...
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By Nevin E. Adams, JD 2/5/2019
It is customary when sharing (or reading) the portents of a survey to focus on the actions that respondents say they have, or will undertake. But what about the things they say they will not do?
Human beings gravitate toward “norms,” of course. Plan sponsors, certainly those conscious of the...
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By Nevin E. Adams, JD 2/4/2019
A NAPA Net reader recently commented, “While I have an inkling of the trends with respect to revenue sharing, I’d like to understand what’s really happening.” So this week, we’d like you to “share” what you’re seeing with revenue sharing. Oh – and how about those Super Bowl commercials?
The Plan...
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By Nevin E. Adams, JD 2/1/2019
The parties in the Duke University 403(b) suit have a homework assignment from the judge in the case.
It was only about a week ago that the terms of the settlement in the case of Clark v. Duke University were announced – a $10,650,000 cash settlement and a series of changes in plan administration...
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By Nevin E. Adams, JD 2/1/2019
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 Chenoa, Illinois, the local police department is looking for some volunteers to help them with a special training exercise… You’ll be shocked…
In Priceville, Alabama...
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By Nevin E. Adams, JD 2/1/2019
You might well expect that the Super Bowl draws a lot of enthusiastic fan support – but this year among NAPA Net readers, there was also a fair number enthusiastically rooting for…“anybody but”…
Indeed, the top response was “anybody but the Patriots,” cited by nearly 31%, though that wasn’t far...
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By Nevin E. Adams, JD 1/30/2019
A managed account provider and a recordkeeper platform have been sued for conspiring to direct participant savings to expensive, affiliated funds.
Plaintiff Kimberly Davis worked for Palace Entertainment in Greensboro, NC and Riverhead, NY, and participated in its 401(k) retirement plan that...
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By Nevin E. Adams, JD 1/28/2019
Will your portfolio rise with the Rams – or get pummeled by the Patriots?That’s what adherents of the so-called Super Bowl Theory would likely conclude. The Super Bowl Theory holds that when a team from the old National Football League wins the Super Bowl, the S&P 500 will rise, and when a team...
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By Nevin E. Adams, JD 1/28/2019
While fans of the Saints and Chiefs (not to mention the Eagles, Bears, Chargers, etc.) are surely disappointed, we now know who’ll be meeting in Super Bowl 53 – so, who will you be rooting for?It’s that time of year again – when (it seems that) most of the nation gathers for one big party.Whether...
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By Nevin E. Adams, JD 1/28/2019
Despite allegations of charging fees 10 times what they should be, an excessive fee suit against fiduciaries of a university 403(b) plan has been dropped.The suit was brought against the $4.2 billion University of Rochester Retirement Program less than a year ago by Christopher D’Amore on behalf of...
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By Nevin E. Adams, JD 1/25/2019
Thanks to a well-documented and prudent process, American Century has beaten back an excessive fee suit brought by a participant in the firm’s 401(k) plan.The trial – which ran for 11 days – consisted of a number of claims common to the dozen or so excessive fee suits brought by participants in the...
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By Nevin E. Adams, JD 1/25/2019
A recent survey of large plan sponsors finds that, for every employer that prefers terminated participants leave the plan, there are more than six that want them to leave their balances behind. But that’s not exactly been the experience of NAPA Net readers.As it turns out, just 5% answered...
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By Nevin E. Adams, JD 1/25/2019
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 Pittsburgh, Pennsylvania, an unnamed 20-year-old stopped to drop off food for his grandmother… left a friend inside the still-running vehicle… and at that point, a...
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By Nevin E. Adams, JD 1/23/2019
Legislation has been introduced in the Bay State that would expand the Commonwealth’s auto-IRA program for private sector workers and establish a 401(k) parallel, with an employer mandate.
The first bill, SD 1902, introduced by state senator Patricia D. Jehlen, establishes the Massachusetts Secure...
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By Nevin E. Adams, JD 1/22/2019
Has an index fund become a presumption of prudence?You may remember that no so very long ago, courts had determined that the holding of employer stock in Employee Stock Ownership Plans (ESOPs) was entitled to a presumption that their fund management was prudent under a “presumption of prudence”...
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By Nevin E. Adams, JD 1/22/2019
A recent survey of large plan sponsors finds that, for every employer that prefers terminated participants leave the plan, there are more than six that want them to leave their balances behind. Is that what you’re seeing?The 2019 Hot Topics in Retirement and Financial Wellbeing survey by Alight...
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