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Nevin E. Adams, JD

By Nevin E. Adams, JD | 10/31/2023
Halloween is the time of year when one’s thoughts turn to trick-or-treat, ghosts and goblins, and things that go bump in the night. But what keeps—or should keep—plan fiduciaries up at night? Well, there are the things like… Re-enrollment Automatic enrollment has long been shown to transform the... READ MORE
By Nevin E. Adams, JD | 10/27/2023
Well, here we are again at the end of yet another workweek (and nearly another month) …and yet, there’s (still) no shortage of…well, just look at what happened to these guys and gals… In Westford, Massachusetts, Melissa Krygowski has created a unique homage (and raised money for a good cause) to... READ MORE
By Nevin E. Adams, JD | 10/26/2023
A group of 26 “red state” attorneys general has filed a notice of their appeal of a federal court’s judgement rejecting their challenge to the Labor Department’s ESG rule. The notice of appeal (Utah v. Walsh, N.D. Tex., No. 2:23-cv-00016, notice of intent to appeal, 10/26/23)—filed Thursday in the... READ MORE
By Nevin E. Adams, JD | 10/24/2023
A recent analysis of world pension systems gave America a passing grade, but not a good one. The latest—the Mercer CFA Institute Global Pension Index[i]—gave the United States a C+ (though a B in adequacy!) ranking our retirement “system” well down (22nd) in the list of 47 retirement income... READ MORE
By Nevin E. Adams, JD | 10/20/2023
Well, here we are again at the end of yet another workweek …and yet, there’s (still) no shortage of…well, just look at what happened to these guys and gals… First, some odds and ends… In Cape Coral, Florida, and unnamed driver for reasons undisclosed lost control of his Dodge Challenger…... READ MORE
By Nevin E. Adams, JD | 10/20/2023
Two more suits in two different California federal district courts have just challenged the use of plan forfeitures to offset company contributions as not being in the best interests of plan participants. The latest (McManus v. Clorox Co., N.D. Cal., No. 4:23-cv-05325, complaint 10/18/23) is none... READ MORE
By Nevin E. Adams, JD | 10/17/2023
It might not have made it to your calendar, but today happens to be National TPA Day.  The timing is no accident—yesterday would have been for many calendar-year ERISA plans the (extended) deadline for filing the annual ERISA 5500 form.[i] Like April 15 for CPAs, that date—and timing—are of... READ MORE
By Nevin E. Adams, JD | 10/13/2023
Well, here we are again at the end of yet another workweek …and yet, there’s no shortage of…well, just look at what happened to these guys and gals… First, some odds and ends… In Australia, Charlie Eggins, 14, managed to set a new world record at the Australian Nationals 2023…shaving 0.68 seconds... READ MORE
By Nevin E. Adams, JD | 10/12/2023
The nation’s highest court has decided not to decide the applicability of an arbitration clause in fending off an ERISA suit. The case that had been appealed to the United States Supreme Court was decided in favor of the participant-plaintiffs by the United States Court of Appeals for the 10th... READ MORE
By Nevin E. Adams, JD | 10/10/2023
Social media routinely reminds me that I’m teetering on the brink of overlooking key remembrances—days in the year to honor sons, daughters, puppies, dogs, kittens, and…well, you name it. And we have whole months set aside to acknowledge the contributions of women, black history, and Hispanic... READ MORE
By Nevin E. Adams, JD | 10/10/2023
The parties in a suit that claimed a $7.3 billion plan “stocked the Plan’s investment menu with their own proprietary index funds”—while “participants got the short end of the stick” have come to terms. As it turns out, the plaintiffs in this case (are Rita Kohari, John Radolec and Mohani Jaikaran... READ MORE
By Nevin E. Adams, JD | 10/9/2023
In what is said to be “the largest ever in an ERISA case alleging a retirement plan improperly offered proprietary funds,” the parties have struck a settlement. The suit—filed back in 2017—was brought on behalf of participants[i] in the GE Retirement Savings Plan  (f/k/a General Electric Savings... READ MORE
By Nevin E. Adams, JD | 10/6/2023
Well, here we are again at the end of yet another workweek …and yet, there’s no shortage of…well, just look at what happened to these guys and gals… First, some odds and ends… In Glen Falls, New York, the local Fire Department received a call about a “confirmed structure fire”…following which... READ MORE
By Nevin E. Adams, JD | 10/6/2023
For the second time in a month, a law firm has brought suit challenging the use of forfeitures in a 401(k) plan. The lawyers are from Hayes Pawlenko LLP, a South Pasadena, CA-based duo (who met in law school, according to their website) positioning themselves as an employment litigation firm “... READ MORE
By Nevin E. Adams, JD | 10/3/2023
There’s an oft-repeated line from that 1967 classic movie “Cool Hand Luke” about a “failure to communicate.”  Now, most of us aren’t trying to convey the consequences of violating prison rules, but there are messages where mere words sometimes fall short of their purpose. There are literal... READ MORE
By Nevin E. Adams, JD | 10/3/2023
Another in the series of suits alleging that plan fiduciaries “chased low fees” and ignored investment performance has been dismissed—though there was a unique twist here. Like most of the roughly dozen suits that were filed a little more than a year ago, this one[i] “targets” the Marsh &... READ MORE
By Nevin E. Adams, JD | 10/2/2023
Noting that "the settling parties agreed to the proposed settlement only after vigorous arm's-length negotiations between counsel experienced in ERISA class actions and under the auspices of … a third-party private mediator with extensive experience mediating ERISA actions”—the parties in yet... READ MORE
By Nevin E. Adams, JD | 9/29/2023
Well, here we are again at the end of yet another workweek …and, as it turns out, another month. And yet, there’s no shortage of…well, just look at what happened to these guys and gals… First, some odds and ends… Theatre tickets from night of Lincoln assassination sell for… well, less than you... READ MORE
By Nevin E. Adams, JD | 9/28/2023
Another federal judge has weighed the assertions made in an excessive fee suit—and found them lacking both in terms of a “meaningful benchmark,” and specificity of the claims made. The Suit The plaintiffs here—Jennifer R. Lard, John G. Juergens, Gerald L. Robinson, Scott W. Anderson, Thomas A.... READ MORE
By Nevin E. Adams, JD | 9/27/2023
A suit alleging a breach of fiduciary duty has been filed because the plan fiduciaries offset employer contributions with forfeitures, rather than using them for the “exclusive benefit” of participants.    Plaintiff Konstantina Dimou, a participant in the Thermo Fisher Scientific Inc. 401(k)... READ MORE

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