Nevin E. Adams

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

Capozzi Adler has struck another excessive fee settlement with a billion-dollar plan. This suit was filed by participant-plaintiffs Craig Parmer and Mark A. Laurance against the fiduciaries of the Land O’ Lakes Employee Savings & Supplemental Retirement Plan in May of 2020. In particular, they... READ MORE

As I was pulling together tax information, I was reminded that, in addition to the benefits of pre-tax savings and deferred taxes on retirement savings, there’s another tax benefit—but one of which many aren’t aware.  It’s called the Saver’s Credit—but only 43% of workers are aware of the credit,... READ MORE

Will your 401(k) be bitten by the Bengals—or rally with the Rams? That’s what adherents of the so-called Super Bowl Indicator[1] would likely conclude, after all. It’s a “theory” that when a team from the old National Football League wins the Super Bowl, the S&P 500 will rise, and when a team... READ MORE

Another excessive fee suit targets recordkeeping fees, actively managed funds, and a custom target-date fund series. The suit here (Locascio v. Fluor Corp., N.D. Tex., No. 3:22-cv-00154, complaint 1/24/22) was filed by former participants Deborah Locascio and David Summers on behalf of the Fluor... READ MORE

Looks like those hoping for some clarity on a threshold issue involving ERISA fee litigation will have to wait for another day. I’m referring, of course, to last week’s ruling by the Supreme Court on the case of Hughes v. Northwestern University et al.—a case that the law firm of Schlichter Bogard... READ MORE

In a ruling likely to make it harder—perhaps much harder—to dismiss excessive fee lawsuits, the U.S. Supreme Court has remanded for further consideration a lower court decision that had favored the fiduciary defendants. In a unanimous decision[1] (Hughes v. Northwestern University et al., case... READ MORE

Another fiduciary breach suit has been filed involving a series of target funds with a short, and allegedly poor, track record. This time it’s participant-plaintiff Joanna P. Mattson bringing suit “individually and on behalf of the Milliman, Inc. Profit Sharing and Retirement Plan and a class of... READ MORE

It’s taken a while for the details to emerge, but we finally know the terms of a proprietary fund settlement—cash and a plan design “twist.” This suit—filed way back on Valentine’s Day, 2017—involves allegations by a participant in its own plan (and funds), one David G. Feinberg, on behalf of the... READ MORE