Nevin Adams

5 Things You May Not Know About Roth 401(k)s

By Nevin Adams 4/28/2017

I made the switch to Roth for my retirement savings years ago — and I have long counseled younger workers, who were likely paying the lowest tax rates of their working lives, to do so as well.Pre-tax treatment has, of course, been the norm in 401(k) plans since their introduction in the early 1980s... READ MORE

Looking for Some New Direction(s)?

By Nevin Adams 4/27/2017

Noted journalist Horace Greeley once famously commented “Go West, Young Man.” What’s not often repeated is the rest of that quote.Regardless of where you live, this year’s Western Benefit Conference is, once again, shaping up to be an amazing event. It’s one of the few events in the nation to span... READ MORE

Are Retirement Savings Safe From Tax Reform?

By Nevin Adams 4/27/2017

Unveiling President Trump’s tax reform proposal on April 26, Gary Cohn, Trump’s chief economic advisor and director of the National Economic Council, said that “retirement savings will be protected.”While that was immediately reassuring to those concerned that this version of tax reform would... READ MORE

IRS Provides Clarity on Auditing Maximum Loan Amount

By Nevin Adams 4/25/2017

Plan sponsors and administrators got some good news on April 20 from the IRS regarding the calculation of maximum participant loan amounts.There are several limitations imposed with regard to participant loans, including one that the total amount of the loan(s) outstanding cannot exceed $50,000 in... READ MORE

Get Your Pitchforks Ready

By Nevin Adams 4/24/2017

A recent article in the Wall Street Journal cautions: “Grab Your Pitchforks, Your 401(k) May Need Defending From Congress.”The article (subscription required) covers ground we have heard for months now — that “The lucky participants in one of the best retirement plans around are coming after yours... READ MORE

New Share Classes Pave the Way for Fiduciary Regulation

By Nevin Adams 4/21/2017

A new white paper says that fund changes already underway in response to the Department of Labor’s (DOL) fiduciary regulation may well have broad beneficial effects.According to “Early Evidence on the Department of Labor Conflict of Interest Rule” by Morningstat’s Director of Policy Research Aron... READ MORE

ARA Calls Out Litigation ‘Sheriff’ in Fiduciary Regulation

By Nevin Adams 4/17/2017

Among other changes, the American Retirement Association has requested that the Labor Department change the Best Interest Contract (BIC) Exemption to eliminate reliance on the plaintiffs’ bar as an enforcement mechanism.Perhaps the most controversial aspect of the current fiduciary regulation is... READ MORE

5 Things You May Not Know About HSAs

By Nevin Adams 4/14/2017

Odds are that you’ve heard that health savings accounts, or HSAs, offer individuals a “triple tax advantage” — but here are five things you may not know about HSAs.A recent survey by Mercer found that 25% of employers with 10-499 employees and 61% of employers with 500 or more employees offered an... READ MORE

Report Cites Big Employer Price Tag for Delayed Retirements

By Nevin Adams 4/11/2017

Financial wellness proponents often tout the ROI of helping workers prepare and retire on time. A new analysis puts a price tag on the cost of deferring retirement.In a publication aptly titled “Why Employers Should Care About the Cost of Delayed Retirements,” Prudential found that a one-year... READ MORE

Fiduciary Litigation: Another One Bites the Dust

By Nevin Adams 4/10/2017

Plaintiffs seeking to obtain an emergency injunction blocking the Department of Labor’s (DOL) fiduciary regulation were rebuffed again by the U.S. Court of Appeals for the Fifth Circuit.The denial kept the DOL’s fiduciary litigation streak unblemished.Not that the judges minced words explaining... READ MORE

You Can Take it With You

By Nevin Adams 4/7/2017

These days there’s little controversy about the wisdom of using behavioral finance to help workers start saving — but what about when they change jobs?While “leakage” — loosely defined as a pre-retirement withdrawal of retirement savings — is widely disparaged as undermining retirement security,... READ MORE

Ripoff’ Counter Counters Fiduciary Regulation Delay

By Nevin Adams 4/6/2017

The same folks who once referred to advisors as a “colony of termites” eating away at American’s retirement savings have now unveiled a “Retirement Ripoff Counter.”The counter purports to show how much the delay in the fiduciary regulation is costing American savers. The clock assumes that every... READ MORE

'Ripoff’ Counter Counters Fiduciary Regulation Delay

By Nevin Adams 4/6/2017

The same folks who once referred to advisors as a “colony of termites” eating away at American’s retirement savings have now unveiled a “Retirement Ripoff Counter.” The counter purports to show how much the delay in the fiduciary regulation is costing American savers. The clock assumes that every... READ MORE

DOL Gives Industry Some ‘Waiting’ Room

By Nevin Adams 4/5/2017

The Labor Department made it official yesterday, pushing the April 10 applicability date of the fiduciary rule back the widely anticipated 60 days to June 9 – but providing some additional compliance space on the Best Interest Contract Exemption.Specifically, while the Labor Department also... READ MORE

OMB Takes Some More Meetings on Fiduciary Regulation

By Nevin Adams 4/4/2017

Having received the final rule on its proposed extension of the applicability date from the Labor Department, the Office of Management and Budget (OMB) has scheduled a couple of meetings related to that review.According to an update on the OMB’s website, the agency had meetings on March 31 with the... READ MORE

DOL Submits Fiduciary Delay Final Rule to OMB

By Nevin Adams 3/29/2017

Having put its proposed extension of the applicability date out for public comment, the Department of Labor (DOL) has submitted its final rule to the Office of Management and Budget (OMB) for review.According to an update on the OMB’s website, the final rule was received on March 28.The 60-day... READ MORE

Excessive Fee Case Moves Forward

By Nevin Adams 3/28/2017

Plan fiduciaries largely lost their attempt to dismiss charges filed by plan participants in an excessive fee suit brought by the St. Louis-based law firm of Schlichter, Bogard & Denton.The lawsuit, filed in late 2015 in the Southern District of Indiana, alleged that fiduciaries of the $5.1... READ MORE

Are Participants Under 30 the DIFM Generation?

By Nevin Adams 3/28/2017

A new survey offers some compelling insights about Millennial savers.Millennials are already the largest workforce demographic, or course – and they haven’t all gotten to the workplace yet. A new JPMorgan survey provides three critical findings from their research on the attitudes toward saving and... READ MORE

Tax Reform Takes Center Stage

By Nevin Adams 3/27/2017

With health care reform off the table (at least for the moment), Congress will now turn to… tax reform.Over the weekend, House Ways & Means Committee Chairman Kevin Brady (R-Texas) said he aims to move a tax reform bill through his committee this spring. According to Reuters, Brady said he... READ MORE

Court Won’t Stop the Fiduciary Rule

By Nevin Adams 3/27/2017

Plaintiffs seeking an emergency injunction in federal court against the implementation of the fiduciary regulation got a quick answer.Plaintiffs in the case, including the U.S. Chamber of Commerce, the Financial Services Institute, and the Securities Industry and Financial Markets Association, had... READ MORE

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