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Nevin E. Adams, JD

By Nevin E. Adams, JD | 9/23/2014
While there are plenty of cautionary tales about the way(s) in which you can unintentionally become a plan fiduciary, a recent court case highlights another potential trap for company officials. In Thomas E. Perez v. Geopharma, Inc., et al., Geopharma’s CEO, Mihir Taneja, brought a motion to... READ MORE
By Nevin E. Adams, JD | 9/22/2014
Our industry has long maintained that a greater focus is needed on decumulation — the process/pattern for drawing down the retirement savings that the traditional focus on accumulation has nurtured.   Arguably, a variety of annuity or annuity-type products already exists, some of which are... READ MORE
By Nevin E. Adams, JD | 9/22/2014
We know that the IRS imposes a specific timeframe on when distributions of retirement savings from qualified plans must start — but what might happen if those requirements were removed? A recent study considers that question, taking advantage of data from the one-time suspension of the... READ MORE
By Nevin E. Adams, JD | 9/19/2014
Congress is heading out of town, but that hasn’t stopped a consortium of unions and consumer groups from sending a “Dear Member of Congress” letter lending their support to the Department of Labor’s revision of the fiduciary rule. The letter, which basically restates the position already... READ MORE
By Nevin E. Adams, JD | 9/18/2014
Much is said and written about the demise of DB plans, but a recent House subcommittee hearing was focused on ways to help sustain the programs still in place. The hearing — held Sept. 17 by the Select Revenue Measures Subcommittee of the House Committee on Ways & Means — was largely devoted to... READ MORE
By Nevin E. Adams, JD | 9/17/2014
Apparently the ghost of Mitt Romney’s IRA continues to haunt Capitol Hill — and, if the Chairman of the Senate Finance Committee has his way, retirement savings will be on the tax reform agenda.  During the 2012 presidential election campaign, the subject of Romney’s $100 million IRA was a hot... READ MORE
By Nevin E. Adams, JD | 9/15/2014
In response to concerns that tomorrow’s retirees will run short of money, we are often told to save more, to work longer, or — as often as not these days — to work longer and save more. Certainly working and saving longer can do wonders in terms of stretching your retirement nest egg. It... READ MORE
By Nevin E. Adams, JD | 9/15/2014
With employer stock holding no longer “presumed” to be prudent, a federal appeals court has vacated the dismissal of a stock drop suit against Lehman Brothers, re-opening the case. Last week, Reuters reported that the 2nd U.S. Circuit Court of Appeals in New York vacated the October 2011... READ MORE
By Nevin E. Adams, JD | 9/12/2014
Pension plan sponsors got some much-anticipated guidance from the IRS on Sept. 11. The good news: The IRS has provided a number of options as part of the guidance on pension funding stabilization under the Highway and Transportation Funding Act of 2014 (HATFA). The bad news: Most plans will... READ MORE
By Nevin E. Adams, JD | 9/11/2014
When it rains, it pours — in a single week we now have an announcement of a second congressional hearing on retirement plan issues. Both hearings are slated for next week. This time the focus is defined benefit plans. Rep. Pat Tiberi (R-Ohio), Chairman of the Subcommittee on Select Revenue... READ MORE
By Nevin E. Adams, JD | 9/8/2014
A class action lawsuit brought by plan participants, a retiree and a plan fiduciary claims that Warren Buffett’s Berkshire Hathaway broke a promise it made as part of an acquisition agreement not to cut benefits. The lawsuit, filed last month in U.S. District Court in Fort Worth, Texas, says... READ MORE
By Nevin E. Adams, JD | 9/5/2014
Have you heard this one? “Only about half of working Americans are covered by a workplace retirement plan.” Sure you have. It’s a statistic that is widely cited and reported, both in the mainstream press and on Capitol Hill. It comes from a reliable, objective source (the U.S. Census Bureau’... READ MORE
By Nevin E. Adams, JD | 9/5/2014
The cost of living when you retire is greatly influenced by the cost of where you’re living when you retire. While many wind up retiring where they lived previously, it’s a factor that advisors — and those they advise — should consider in retirement planning. While many factors enter into... READ MORE
By Nevin E. Adams, JD | 9/5/2014
A new report from the Federal Reserve finds that while retirement plan participation remained relatively flat over the past three years, the median and average value of those retirement plan accounts rose “substantially,” according to the report. The 2013 Survey of Consumer Finances (SCF)... READ MORE
By Nevin E. Adams, JD | 9/4/2014
Odds are, over the years you’ve been asked to do some “weird” things by your boss — and maybe you’ve found yourself in the position of making some odd requests of your staff. But in the “so you think you’ve been asked to do weird things” vein, OfficeTeam recently asked administrative... READ MORE
By Nevin E. Adams, JD | 9/3/2014
Earlier this summer the Treasury Department issued new regulations encouraging longevity insurance within DC plans and IRAs — but will that make a difference?   A recent blog post by Steve Utkus, principal and director of the Vanguard Center for Retirement Research, explains that longevity... READ MORE
By Nevin E. Adams, JD | 9/2/2014
August looks to have been a good month for 401(k) participants. For individuals in the EBRI/ICI database during the month, the average account balance rose 4.4% for participants ages 25-34 with one to four years of tenure (and consistent participation since 2012), while the average account... READ MORE
By Nevin E. Adams, JD | 8/29/2014
Pensions were not on my mind in 1974, certainly not on Labor Day of that year. While I was pondering my new college textbooks, President Gerald Ford, less than a month in that role, signed into law the Employee Retirement Income Security Act of 1974 — better known to most of us as ERISA.... READ MORE
By Nevin E. Adams, JD | 8/28/2014
A new report offers a global perspective and some key findings on the challenges and opportunities of various retirement markets. The study, published by consultant Ernst & Young, was based on more than 80 interviews with pension and retirement professionals in 18 countries across the... READ MORE
By Nevin E. Adams, JD | 8/28/2014
The Department of Labor has offered some "friendly" advice to the U.S. Supreme Court as it considers a review of a high-profile 401(k) fee case. In a "friend of the Court" amicus brief filing, the DOL said it thinks that the high court should weigh in on the statute of limitations issue... READ MORE

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