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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 5/3/2024
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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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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