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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 5/17/2024
Well, here we are again at the end of yet another workweek … and yet, just look at what has happened to these guys and gals…
In Monroe, Washington, the Havener family was enjoying an afternoon outside when… this… and yes, we have video…
A little too much Christmas spirit?
In Peoria, Illinois...
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By Nevin E. Adams, JD 5/15/2024
A group of retirement industry stakeholders has asked the United States Supreme Court to hear a case they say if “left undisturbed… has the potential to impact the orderly and efficient operation of every retirement plan in the country.”
Filing an amicus (friend of the court) brief in support of...
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By Nevin E. Adams, JD 5/15/2024
A federal appellate court finds an arbitration clause in a plan document null and void as it precluded the pursuit of ERISA fiduciary breach remedies.
The case involves plaintiff Ramon Dejesus Cedeno, an employee of Strategic Financial Solutions, LLC, and a participant in its Strategic Employee...
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By Nevin E. Adams, JD 5/14/2024
A recent headline fans the flame of retirement panic—but just take a look at the actual data.
The source of the data was Schroders’ 2024 U.S. Retirement Survey, which did actually find some retirees characterizing their existence that way (doubtless with the help of a creative survey drafter) —...
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By Nevin E. Adams, JD 5/10/2024
Well, here we are again at the end of yet another workweek … and yet, just look at what has happened to these guys and gals…
In Jiangsu Province, China, the Taizhou Zoo found itself without pandas to exhibit…so they “improvised”…
In Namibia, Africa, on the Chobe River…a “Terrifying moment hippo...
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By Nevin E. Adams, JD 5/9/2024
The settlements are lining up in a number of so-called excessive fee suits—including one at the 11th hour—all with plaintiffs represented by Capozzi Adler PC.
Mass General Brigham
Plaintiffs Mark Norton, Daska Louis, Caroline Mitchell, Nancy Barlett, and Azilda Cordahi and Defendants Mass General...
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By Nevin E. Adams, JD 5/7/2024
Like many, perhaps most, families—mine never really talked about money or finance.
Doubtless that was in no small part because neither of those were in abundance in our household. But mostly, I suspect, it was because that was just one of “those” topics that were deemed by my parents’ generation...
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By Nevin E. Adams, JD 5/7/2024
A plan sponsor, charged with a fiduciary breach in its selection of a pension risk transfer (PRT) provider, is pushing back, moving to dismiss the suit.
The motion to dismiss—filed on behalf of plan fiduciaries at Lockheed Martin—notes that “plaintiffs seek a novel ruling from this Court that a...
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By Nevin E. Adams, JD 5/6/2024
Although the beneficiary designation in a 401(k) plan was old, and tied to a previous relationship, a federal court concluded that it was nonetheless valid.
The case involves the balance—some $754,006.54—accumulated by one Jeffrey Rolison in the Proctor & Gamble 401(k) from his date of...
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By Nevin E. Adams, JD 5/3/2024
Well, here we are again at the end of yet another workweek … and yet, just look at what has happened to these guys and gals…
In the Tuskegee National Forest, Alabama, Abubakar Tahiru, 29, has set a new world record…
This Interactive Map ranks every county in America from drunkest to driest...
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By Nevin E. Adams, JD 5/2/2024
As expected, and with the ink barely dry on the new Retirement Security regulation, the first lawsuit challenging the rule has been filed.
It seeks to vacate the 2024 Fiduciary Rule and amendment to PTE-84-24 under the Administrative Procedures Act (“APA”) on the grounds that they are “contrary to...
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By Nevin E. Adams, JD 5/1/2024
Another suit regarding a series of pension risk transfers has been filed, alleging a fiduciary breach in not obtaining the “safest annuity available.”
The latest—filed on behalf of plaintiffs Martha Brennan Camire, Craig Jefferson, David Lyn Shepherd, and Daniel Schipper (individually and as...
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By Nevin E. Adams, JD 4/30/2024
Are you confident about your retirement finances? Apparently, and despite responses that undermine a rational level of confidence, many are.
Last week, the Employee Benefit Research Institute (EBRI) and Greenwald Research unveiled their 34th annual Retirement Confidence Survey (RCS). Now, I’ve...
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By Nevin E. Adams, JD 4/30/2024
A new report provides some interesting insights on 401(k) participants and their behaviors—and reminds of the challenges in tracking trendlines.
The report—aptly titled “401(k) Plan Asset Allocation, Account Balances, and Loan Activity in 2022”—provides a snapshot on the how, and how much 401(k)s...
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By Nevin E. Adams, JD 4/29/2024
After having managed to fend off some, but not all, claims in an excessive fee suit, plan fiduciaries have struck a deal with the participant-plaintiffs that had challenged the plan’s use of Prudential’s GoalMaker offering.
The suit began in October 2021 when plaintiffs Jeffrey Parker, Donald B....
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By Nevin E. Adams, JD 4/29/2024
While sympathizing with the participant-plaintiffs in the case, a federal judge finds no obligation to use “reasonable” life expectancy and interest rates in a pension calculation conversion.
Plaintiffs Thomas Reichert, Stuart Buck, and Kenneth Henrich (on behalf of themselves and others similarly...
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By Nevin E. Adams, JD 4/26/2024
Well, here we are again at the end of yet another workweek … and yet, just look at what has happened to these guys and gals…
In Newberry County, South Carolina, the Newberry County Sheriff’s Office has apparently been getting a lot of noise complaints… so much that some people have even flagged...
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By Nevin E. Adams, JD 4/25/2024
After plunging to levels not seen since the so-called Great Recession, a new survey picked up on a burst of optimism in retirement confidence. And the picture of retirement FROM retirement looks pretty good.
In fact, two-thirds (68%) of the workers and three-fourths (74%) of retirees surveyed were...
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By Nevin E. Adams, JD 4/24/2024
It’s said that if at first you don’t succeed, try, try again—but if you’re suing in federal court, you had better make your case.
The suit in question this time—which was last decided in favor of the fiduciary defendants almost exactly a year ago—had alleged that the Georgetown University 403(b)...
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By Nevin E. Adams, JD 4/23/2024
It’s been said that a crisis is a terrible thing to waste. But what if it’s a figment of your imagination?
“Crisis” is a word much bandied about these days, most particularly as a label applied to retirement—by foes and fans alike. Indeed, while not so long ago headlines posed that premise as a...
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