Nevin E. Adams, JD

By Nevin E. Adams, JD | 7/21/2023

Well, here we are again at the end of yet another workweek—and yet, just look at what happened to these guys and gals… First, some odds and ends… In Duvall, Washington, law enforcement responded to a call…from a driver who said he couldn’t deliver a package because of an obstacle in the road…to... READ MORE

Suit Says Fiduciaries of $700 Million 401(k) Fell Short

By Nevin E. Adams, JD | 7/21/2023

A new excessive fee suit challenges the imprudent selection of share classes, the poor selection of a stable value offering AND exorbitant recordkeeping fees. Here we have one participant-plaintiff Robert Humphries suing based on the actions (or lack thereof) of the fiduciaries of the $700... READ MORE

Aon Beats Back Fiduciary Breach Appeal

By Nevin E. Adams, JD | 7/19/2023

A federal appellate court has backed the ruling of a lower court, finding that a 401(k) plan’s investment consultant acted prudently, and in the interests of participants in decisions regarding a proprietary CIT. The former participant/plaintiff here (one Benjamin Reetz) claimed that the... READ MORE

Social Security COLA ‘Click Bait’

By Nevin E. Adams, JD | 7/18/2023

Over the past couple of years, one of the most-clicked posts on NAPA-Net has been on a topic that is a bit of a head-scratcher. I’m speaking, of course, of the (now-incessantly tracked), monthly projections of the (potential) cost of living adjustment (COLA) for Social Security. It started back... READ MORE

DST Suit Settles for $124.6 Million

By Nevin E. Adams, JD | 7/18/2023

A “painstakingly negotiated global Settlement” of some $124 million involving multiple suits (and the involvement of the Labor Department) has been reached in a long-standing ERISA suit. The original suit was filed in March 2016 by Clive Cooper, a former employee (and participant) of DST Systems,... READ MORE

TGIF…No, Really.

By Nevin E. Adams, JD | 7/14/2023

Well, here we are again at the end of yet another workweek—and month, and halfway through 2023—and yet, just look at what happened to these guys and gals… First, some odds and ends… In Nambia, Africa, a Portuguese vessel that set sail from Lisbon in 1533 and disappeared…was recently discovered…in... READ MORE

The Best of the Best (NAPA 401(k) Summit Topics)

By Nevin E. Adams, JD | 7/14/2023

Over the past week, we’ve given readers (that’s you) one more shot at shaping the agenda for the 2024 NAPA 401(k) Summit. So, where do things now stand? After several weeks of running topics through our cage-match voting system, this week we took the top 15 from each of those groups to form one... READ MORE

Terms of 403(b) Excessive Fee Settlement Revealed

By Nevin E. Adams, JD | 7/14/2023

The terms of a settlement in an excessive fee suit against a $2.3 billion 403(b) plan have come to light. The suit (Garnick v. Wake Forest Univ. Baptist Med. Ctr., M.D.N.C., No. 1:21-cv-00454, complaint 6/4/21) was filed in June 2021 in the U.S. District Court for the Middle District of North... READ MORE

$30 Million Settlement Set in TDF Fund Suit

By Nevin E. Adams, JD | 7/13/2023

Just ahead of a scheduled trial date, the parties in a fiduciary breach suit involving a $30 billion master trust have come to terms. The suit—filed in February 2016 by Melina N. Jacobs—alleged that the fiduciary defendants of the Verizon Master Savings Trust violated their fiduciary duty of... READ MORE

Settlement Struck in 401(k) Deferral Suit

By Nevin E. Adams, JD | 7/12/2023

The parties involved in a suit challenging the ability to defer more to a 401(k) have come to terms, with a settlement of roughly $1.5 million. The suit (Baird v. Hyatt Corp., C.D. Cal., No. 2:22-cv-01620, complaint 3/10/22), filed by one Lance Baird, accused his employer, Hyatt Corporation, of... READ MORE

Are Millennials’ Retirements ‘Doomed?’

By Nevin E. Adams, JD | 7/11/2023

Millennials have had a rough week of it, at least in the financial press. First there was a report that they had established asset allocations that mirrored that of their grandparents (the respondents apparently never heard of a target-date fund). Then a separate survey that indicated they (70% of... READ MORE

(How) Has COVID Changed Retirement Expectations?

By Nevin E. Adams, JD | 7/10/2023

A new study reviews data from two databases[i] to see how (if?) retirement expectations have been impacted by the experience of the COVID-19 pandemic. The research—titled “Retirement Expectations vs. Reality: Factors that Impact Retirement Decisions” and authored by Liu, Zhikun Liu, David... READ MORE

Last Chance to Weigh in on 2024 NAPA 401(k) Summit Topics!

By Nevin E. Adams, JD | 7/10/2023

For the past several weeks we’ve offered you a chance to help shape the agenda for the 2024 NAPA 401(k) Summit—this week, we’re offering you a shot at the ultimate cage match. That’s right, we’ve taken several hundred potential topics, sorted them out into four separate broad categories, and... READ MORE

Settlement Proposed in 401(k) Excessive Fee Suit

By Nevin E. Adams, JD | 7/10/2023

The parties in an excessive fee suit have struck a deal—approximately three years after being filed, and despite making changes that arguably mitigated at least some of the claims. Plaintiffs Shane Tepper, Surfina Adams, Michael Mensack and Daniel Dise—represented by Miller & Shah—sued on... READ MORE

TGIF…No, Really.

By Nevin E. Adams, JD | 7/7/2023

Well, here we are again at the end of yet another workweek—and month, and halfway through 2023—and yet, just look at what happened to these guys and gals… First, some odds and ends… Near Eureka, California, the drive-through Redwoods have—literally—become a tourist “trap”... Tell me if you’ve... READ MORE

(Much) More Than 401(k)s?

By Nevin E. Adams, JD | 7/7/2023

We’ve gotten more than 6,000 votes to date on proposed topics for the 2024 NAPA 401(k) Summit—in three major categories. And there’s been a LOT of jostling in the rankings! Lest you forget—the 2024 NAPA 401(k) Summit will be held April 7-9 in Nashville, Tennessee. You’ll definitely want to mark... READ MORE

Fiduciary Breach Asserted in Healthcare Claims

By Nevin E. Adams, JD | 7/6/2023

With a growing focus on the fiduciary responsibilities for healthcare plans, a national employer is suing Aetna for breaching its fiduciary duties in approving and paying “false, fraudulent, and improper claims”—and for withholding information that would allow a review of those practices. The... READ MORE

What’s on the Agenda for the 2024 NAPA 401(k) Summit—Part 4?

By Nevin E. Adams, JD | 7/3/2023

You’ve heard us say that the agenda for the NAPA 401(k) Summit is put together for advisors by advisors—well, here’s your opportunity to weigh in (again)—this time on business building topics! That’s right, once again this year we’ve teed up a good assortment of potential topics for you to... READ MORE

Judicial Recommendation Reins in ‘Rollover Rule’

By Nevin E. Adams, JD | 7/3/2023

A federal magistrate judge has recommended curtailment of a key rollover provision of the Labor Department’s investment advice regulation. The recommendation of U.S. Magistrate Judge Rebecca Rutherford comes in a 75-page “findings, conclusions, and recommendations” in response to a suit filed last... READ MORE

TGIF…No, Really.

By Nevin E. Adams, JD | 6/30/2023

Well, here we are again at the end of yet another workweek—and month, and halfway through 2023—and yet, just look at what happened to these guys and gals… First, some odds and ends… From Tucson, Arizona, we bring you Scooter…this year’s world’s ugliest dog… And now we give you…Dracula... READ MORE

You are here

Nevin E. Adams, JD

Pages

NAPA's 401(k) Rollover Specialist (k)RS Credential

Recent Headlines

Recent Comments