Nevin E. Adams

The latest academic “dig” against 401(k) plans? Vesting schedules. More specifically, firms with a combination of high turnover and vesting schedules, which means that workers are leaving behind employer contributions. Or, in the parlance of these new critics, being “robbed.”  I stumbled across... READ MORE

A federal judge has dismissed an excessive fee suit involving a $7.8 billion 401(k) plan, accepting the argument that the participant-plaintiff wasn’t even invested in the funds in question. Mind you, as we’ve noted previously, the legal standard to survive a motion by defendants to dismiss a suit... READ MORE

A new report entitled “The Missing Middle” by the National Institute on Retirement Security (NIRS) treads some all-too-familiar ground, myopically focusing on one element of the nation’s private retirement system. The articulated concern is, of course, the “middle”—an income grouping for which... READ MORE

The graduates of 2022—well, they’ve been through a lot, arguably more than most—but with any luck at all, the days and years ahead will be brighter.  Life has many lessons to teach us, some more painful than others—and some we’d just as soon be spared. Regardless, if you have a graduate—or if you... READ MORE

The law firm of Schlichter Bogard & Denton has a new target in an excessive fee suit—the plan’s investment advisor. More specifically, plaintiffs Michelle Mills, Coy Sarell, Chad Westover, Brent Aleshire, Barbara Kershner, Paula Schaub, and Jennifer Silva—who just two months ago filed suit[1]... READ MORE

In less than a year, the law firm of Capozzi Adler has wrested a settlement from a multiple employer plan accused of breaching its fiduciary duties.  The plan in question—more specifically the plan fiduciaries—targeted are those of Nextep, Inc., a professional employer organization (PEO), as well... READ MORE

As kids, we often struggle with our parents’ attempts to help us make good choices—and, at least in my family, Mom caught the brunt of all that (at least from me).  We were probably like most families at the time in that we never really talked about money or finance. Doubtless that was in no small... READ MORE

Perhaps because of the recent full moon, the nation’s 401(k) “haters” were out in force. Yes, last week we were “treated” to a Bloomberg op-ed with ideas on how to “fix” America’s broken retirement savings system, a back-handed compliment (of sorts) on SECURE 2.0 in Forbes from Teresa Ghilarducci... READ MORE

A settlement term—and plaintiffs’ attorney fees—in a proprietary fund suit may be undermined by the Labor Department’s recent comments on cryptocurrency—more specifically, concerns about what those comments mean for the role of self-directed brokerage accounts.  In January, T. Rowe Price settled a... READ MORE