Nevin E. Adams

For the second time in a month, the Ninth Circuit Court of Appeals has given new life to an excessive fee suit. The suit was filed in late 2019 against fiduciaries of Trader Joe’s Company Retirement Plan by plaintiffs Nicolas R. Marks and Lorri Bowling (both ex-participants) for allegedly “... READ MORE

Spurred by the recent cryptocurrency “compliance assistance release,” nearly a dozen industry trade groups—including the U.S. Chamber of Commerce—have expressed concern about “a trend at EBSA away from rulemaking based on a robust notice and comment process.” While the cryptocurrency CAR may have... READ MORE

Years back I remember being part of a Q&A with a group of plan sponsors—the focus was the challenge of not only getting, but keeping their plans in compliance, while also looking for creative ways to engage and encourage participants. Then at one point, a tired looking gentleman, expressing... READ MORE

Our industry often seems to treat participants like children who can’t make big decisions—but a recent research paper suggests they might make better choices if we expanded their perspective. The paper, intriguingly titled “Financial Wellness Meets Behavioral Economics,” highlights a behavioral... READ MORE

It’s been fun watching “Coach K” take another team to the Sweet 16 this year—hard to believe he’s been coaching for nearly half a century.  I had the opportunity to see Mike Krzyzewski coach in person just once—and in the not-so-friendly confines of the claustrophobic Cameron Indoor Stadium (no, I... READ MORE

The law firm of Schlichter Bogard & Denton has a new target—with some familiar accusations. This time (Mills v. Molina Healthcare, Inc., C.D. Cal., No. 2:22-cv-01813, complaint 3/18/22) they are representing plaintiffs Michelle Mills, Coy Sarell, Chad Westover, Brent Aleshire, Barbara Kershner... READ MORE

A suit involving excessive fee allegations regarding a $15 billion plan has come to terms with a unique settlement structure. The History Back in June 2020, the $15 billion Costco 401(k) plan was sued in the U.S. District Court for the Eastern District of Wisconsin by participant-plaintiff Dustin... READ MORE

It’s not all about “the Benjamins,” but a recent analysis of the nation’s private retirement system certainly puts a lot of emphasis on the accumulation of aggregate assets in retirement plans. The Morningstar report—“Retirement Plan Landscape Report, An In-Depth Look at the Trends and Forces... READ MORE

My decision as to whether or not to save in my workplace savings plan wasn’t long or complicated.  Yes, I had to actually fill out a form, and yes, I actually had to figure out how to invest those savings (though in fairness, there were only four funds from which to choose, one of which was... READ MORE