Nevin E. Adams

In a year full of challenges for plans and plan sponsors alike, we’ve seen a spate of litigation against retirement programs like none in recent memory. So what’s a plan fiduciary to do?  At times, it seems that every plan in American with more than $1 billion in assets has fallen short of at... READ MORE

A different set of plaintiffs tried a (slightly) different approach (with different attorneys) in an excessive fee suit—but got the same result. The defendant in this instance was Trader Joe’s Company Retirement Plan, who had been sued for a variety of alleged fiduciary ills back in 2019 by former... READ MORE

The drumbeat to “fix” the 401(k) seems to be starting a little earlier this year—though the cures seem more likely to kill the patient. The latest ran in the Wall Street Journal recently—a column by Spencer Jakab innocuously titled: “Is America’s Favorite Retirement Plan Broken?” Ironically, in... READ MORE

You might think there couldn’t be another multibillion-dollar 401(k) plan to be sued—and yet there is. This suit was filed by former participant Michael Johnson, “individually and as representative of a class of participants and beneficiaries of the Duke Energy Retirement Savings Plan,” a plan... READ MORE

Teresa Ghilarducci doesn’t give American employers—or advisors—much credit.  She recently penned an article in Forbes titled “Employers Can’t Provide Retirement Plans. Let’s Stop Pretending They Can.” The article’s premise is false on its face, of course. Employers[1] have long provided retirement... READ MORE

Born in the immediate aftermath of 9/11, the Class of 2024 finished their senior year of high school—and began their college experience—during a global pandemic. How might that impact their retirement—and retirement planning? Several years back, I was talking with a colleague about the then-... READ MORE

Early on a bright Tuesday morning in 2001, I was in the middle of a cross-country flight, literally running from one terminal to another in Dallas, when my cellphone rang.   It was my wife. I had been on an American Airlines flight heading for L.A., after all—and at that time, not much else was... READ MORE

Citing the “imminent harm of being solicited for non-Plan services,” the plaintiffs in an excessive fee suit have filed a response to a motion to dismiss the case by fiduciaries of the $4.4 billion ADP TotalSource Retirement Savings Plan.   The suit was filed in mid-May in the U.S. District Court... READ MORE

Late on the afternoon of Aug. 21, the Employee Benefits Security Administration (EBSA) announced that it will hold a public hearing on its new fiduciary rule proposal.   Specifically, the notice, which is expected to be published in the Aug. 25 Federal Register, is being held “to consider issues... READ MORE