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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 4/22/2024
A federal court decision in an excessive fee case starts off by noting that “the late, renowned attorney-investor Charlie Munger once quipped that ‘the big money is not in the buying and selling, but in the waiting.’”
In case you were wondering, U.S. District Judge Nathaniel M. Gorton goes on to...
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By Nevin E. Adams, JD 4/19/2024
Well, here we are again at the end of another workweek … and yet, just look at what has happened to these guys and gals…
By now those of you in a number of Midwest and southeastern states know that we’re looking at not one, but TWO broods of cicadas (Broods XIX and XIII) … and maybe another...
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By Nevin E. Adams, JD 4/16/2024
Of all the promising provisions in the SECURE 2.0 Act of 2022, one of the most expensive (as the federal government does math, anyway) is likely to be one of the most challenging to implement.
It’s not effective till 2027, so there’s still some time to figure it out—but I’m talking about the new...
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By Nevin E. Adams, JD 4/15/2024
Evidence of a prudent process has regularly proven to be “enough” to win at trial—but a new case found it wasn’t enough to forestall going to trial—and this from a federal judge who called the entire summary judgment exercise a “monumental waste of time.”
“Here, where there are qualified experts...
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By Nevin E. Adams, JD 4/12/2024
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 Venice, Florida, Mary Hollenback was at home when she heard banging at her front screen door…figuring it was someone at the wrong house, she got up and prepared to share...
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By Nevin E. Adams, JD 4/9/2024
Last week, a new report claimed to find a big jump in a so-called “magic” number for retirement, based on what survey respondents said they thought they’d need. As though they’d know.
It garnered quite a bit of coverage, including an article in The Wall Street Journal (and a comment from none...
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By Nevin E. Adams, JD 4/5/2024
Well, here we are again at the end of yet another workweek …and the beginning of a new month…and yet, just look at what has happened to these guys and gals…
15 places in the U.S. that just lost their total solar eclipse — while Texas gained ...
Shop till you…drop? Or maybe you just had a...
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By Nevin E. Adams, JD 4/3/2024
This case, “yet another in a long list of cases challenging an employer’s conversion to a cash balance retirement plan under the Employee Retirement Income Security Act ('ERISA') …” and the particulars aren’t pretty.
Former BP workers Fritz Guenther and Walt Fujimoto filed suit in 2016, alleging...
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By Nevin E. Adams, JD 4/2/2024
I’m rarely at a loss for words, but I was recently asked a question that gave me …pause.
It was a simple question really—John Sullivan and I were being interviewed on the 401(k) Specialist podcast—and Brian Anderson asked “which session are you most looking forward to at the NAPA 401(k) Summit?”...
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By Nevin E. Adams, JD 4/2/2024
A suit that questioned the prudence of proprietary funds, as well as alleging excessive fees and poor performance in those selections, has been dismissed.
The suit was brought by one Judy Lalonde, a former employee of Defendant Massachusetts Mutual Insurance Company on behalf of herself and a...
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By Nevin E. Adams, JD 4/2/2024
Yet another national employer has been slapped with a suit alleging a fiduciary breach in their disposition of forfeitures.
More specifically, the suit (Prattico v. Mattel, Inc., C.D. Cal., No. 2:24-cv-02624, complaint 4/1/24) argues that “by failing to use forfeited funds in the Plan to eliminate...
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By Nevin E. Adams, JD 4/1/2024
A suit alleging fiduciary breaches says that sustained underperformance and massive fund outflows provided signals that plan fiduciaries ignored.
Manuel Esquivel, on behalf of the Whataburger 401(k) Savings Plan, claimed that defendants, Whataburger Restaurants LLC, the Board of Directors of...
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By Nevin E. Adams, JD 3/29/2024
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…
Are your solar eclipse glasses safe or fake? Here's how to find out ...
In Leeuwarden, Netherlands… a jailbreak…of eleven…of sorts ...
In Tampa, Florida…tis the season… ...
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By Nevin E. Adams, JD 3/27/2024
A suit that alleged a breach of fiduciary duty in the selection of proprietary funds that were said to be underperforming has been dismissed for failure to state a claim.
The plan in question is the $1.5 billion, 5,500 participant AllianceBernstein 401(k) plan, and participant-plaintiffs Donald S...
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By Nevin E. Adams, JD 3/26/2024
A recent “news” post about a blog post finds some curious “faults” with the 401(k).
The news item carried the provocative title “‘Rich Dad’ Robert Kiyosaki Reveals Why the 401(k) Is a ‘Horrible’ Retirement Plan.” It originally ran on GoBankingRates.com, but was subsequently picked up in...
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By Nevin E. Adams, JD 3/25/2024
Another suit filed against flexPATH by the law firm of Schlichter Bogard, LLP has been dismissed—with prejudice—though it seems to have turned more on good outcomes than prudent processes.
This suit (Mills v. Molina Healthcare, Inc., C.D. Cal., No. 2:22-cv-01813, complaint 3/18/22) was filed by...
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By Nevin E. Adams, JD 3/22/2024
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…
Historic covered bridges are under threat by truck drivers relying on GPS meant for cars. And we have the pictures to prove it...
A NEW study has identified that you are...
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By Nevin E. Adams, JD 3/19/2024
An interesting—and somewhat counterintuitive—report came out last week, one that cast doubt on the “common wisdom” regarding Roth versus traditional pre-tax savings.
The assumption underlying the research[i] was that those who had not yet paid taxes on their savings (the traditional pre-tax...
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By Nevin E. Adams, JD 3/19/2024
March is coming in like a lion with a new “genre” of ERISA litigation.
While it’s early yet, two—and now three—recent suits—filed by different law firms in different federal district courts—might be the first of a new wave of litigation. All focus on decisions to mitigate corporate risk exposure...
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By Nevin E. Adams, JD 3/15/2024
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 Woodland Hills, California, they’re building a new walking bridge across some busy highways here…but you probably won’t be using it…
From somewhere in the UK, George...
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