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Nevin Adams

After a rough March, the average 401(k) regained some ground in April.   In March, the average 401(k) account for younger (25-34), less tenured (1-4 years) workers, plunged 7.3%. Older (age 55-64) workers with more than 20 years of tenure also shed 7.3%, according to estimates from the... READ MORE
We’ve been through a lot the past several weeks—and doubtless those events have unsettled (if not upended) the retirement plans of many. Or have they?   Recently, the Employee Benefit Research Institute (EBRI) and Mathew Greenwald & Associates, Inc. unveiled the 30th annual Retirement... READ MORE
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has issued “deadline relief and other guidance” related to the impact of the Coronavirus outbreak—including expanded “good faith” application of electronic delivery. EBSA Disaster Relief Notice 2020-01 extends the time... READ MORE
Though I’m naturally inclined to look for the good in things, you can put me in the category of folks concerned about throwing wide open pre-retirement access to retirement accounts.    It has been a concern of mine since the first time we did so (Hurricane Katrina), then mostly because it... READ MORE
Another excessive fee suit has been filed—with the plaintiffs represented by a familiar name.   This time the target were the fiduciaries of the approximately $700 million Pharmaceutical Product Development, LLC Retirement Savings Plan in a suit filed in the Eastern District of North Carolina by... READ MORE
America may be sheltering in place—but 401(k) excessive fee litigation continues.   This time the target was the $7 billion, 50,500+ participant plan of Liberty Mutual. The suit was filed by on behalf of a half-dozen participants and ex-participants of that plan by none other than Schlichter... READ MORE
The CARES Act has greatly expanded American workers' pre-retirement access to their retirement accounts—so, how might it affect their retirement?   There would seem to be plenty of reason for concern—the definition of person(s) affected by, and thus qualified[1] for, this expanded access through... READ MORE
At a time when much of the nation is working remotely, the Labor Department’s final rule on electronic disclosures has been delivered to the White House’s Office of Management and Budget for review. “We are going to be pushing to get this finalized as soon as possible under the circumstances,”... READ MORE
A new suit has been filed, alleging “reckless actions in allowing an unknown individual to prey on and steal hundreds of thousands of dollars from the retirement savings of the Plaintiff…”   More specifically, the suit was filed on behalf of Heide Bartnett, 59, a retired former employee of Abbott... READ MORE
Perhaps like many of you, I have been watching a series of announcements regarding various school and business closings associated with the coronavirus—but I also am keeping an eye on my retirement savings. I know—this is exactly the thing that most advisors counsel against, not only because it... READ MORE
We are living through an extraordinary time in human existence—and, sadly, some aren’t living through it.    Americans deal with personal natural tragedies every day—wildfires, tornadoes, hurricanes, floods, and earthquakes. We’ve also dealt with volatile markets, terrifying periods like the 2008... READ MORE
A federal judge has found that a provider breached its fiduciary duty of overseeing its own 401(k) by failing to monitor proprietary funds and its recordkeeping expenses—though it was not obligated to consider options other than mutual funds.   The suit was filed in October 2018 by plaintiffs... READ MORE
An ERISA preemption challenge to the CalSavers Retirement Savings Program is gearing up for another go at it.   The Howard Jarvis Taxpayers Association has filed a notice in Howard Jarvis Taxpayers Ass’n. v. Calif. Secure Choice Ret. Sav. Program, E.D. Cal., No. 2:18-cv-01584, notice of appeal 4/... READ MORE
The legislation is still very new, and amidst the scramble for answers and action(s)—well, it’s inevitable that some things will get overlooked, and other important things will be misconstrued.    Here are five things you’ll want to keep straight.   The Coronavirus-related distribution is not a... READ MORE
I have long been enamored of so-called “end of the world” fiction—the kind where society as we know it is confronted by the aftermath of some cataclysmic event. And while “this” doesn’t seem to be that—there’s likely to be some significant changes ahead. Here’s a half dozen to consider… More... READ MORE
If you’ve been wondering about the potential impact of the U.S. Supreme Court’s recent “actual knowledge” decision, wonder no more. That Intel ruling, handed down in a unanimous ruling in February, held that you don’t need more than a dictionary to know the meaning of “actual knowledge” when it... READ MORE
We are getting reports from a number of our members that employers—struggling with the impact of business closings, a lack of customers, or other economic impacts due to the pandemic—are looking for some help. Based on results to a member survey, the impact could be catastrophic!    The American... READ MORE
If you’ve been asked in the past two weeks what to do about the market (and who hasn’t), I’m sure your response has been something along the lines of . . . “Nothing.”   There are, of course, more eloquent ways to express that sentiment. And, let’s face it, when it seems that everyone is asking... READ MORE
Once again, a prudent process has won the day in court for retirement plan fiduciaries.   In the case at hand, plaintiff Bonnie Birse, a participant in the CenturyLink Dollars & Sense 401(k) Plan since 2012, and invested in the plan’s 2015 Target Date Fund, argued that CenturyLink’s... READ MORE
California’s auto-IRA program for private sector workers has prevailed against claims that it runs afoul of ERISA’s preemption. The suit, filed in the U.S. District Court for the Eastern District of California in 2018 by the Howard Jarvis Taxpayers Association, Jonathan Coupal and Debra Desrosiers... READ MORE