Nevin E. Adams
We’ve only just passed the effective date for the new e-delivery rules—but the campaign to undermine their impact is already underway.
Coincident with the official effective date of the new rules, the Pension Rights Center, a pension advocacy group, has just unveiled an “Ask for Paper” campaign...
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Having climbed into positive territory for 2020 in June, the average 401(k) balance continued to gain ground in July.
The S&P 500 wound up 5.5% higher in July—the fourth monthly gain in a row, and its largest four-month percentage gain since December 1998.
As it turns out, the average 401(k...
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For reasons that elude me—other than perhaps because it has a “click bait” headline—the folks at Bloomberg recently published an “op-ed” titled, “401(k) Plans No Longer Make Much Sense for Savers.” Sadly, it’s gotten some attention, aided and abetted even by industry publications, some of which...
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We are not quite 60 days past the signing of the CARES Act, legislation that, depending on plan adoption decisions, significantly expanded participant access to their retirement accounts. Are you seeing an uptick in that activity?
Early information from recordkeepers suggests that withdrawal and...
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So, how much should the plaintiffs’ attorneys who wrangled a $12 million settlement receive for their time, effort and trouble?
Well, if you’ve been keeping up with such things, you’ll do some quick math and arrive at a figure of $4 million since, after all, these class action suits[1]—...
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You have to hand it to the Washington Post. At a time when millions of working Americans are finding a financial lifeline in their retirement savings, they managed to find in the questionable life choices of a half dozen individuals a condemnation of the nation’s private retirement system.
The...
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By Nevin E. Adams 5/11/2020
Life has many lessons to teach us, some more painful than others—and some we’d just as soon be spared. But for the graduates of 2020—well, theirs is surely a unique time. So, if you have a graduate—or if you ARE a graduate, here are some thoughts…
My kids have passed those milestones—but I...
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By Nevin E. Adams 5/11/2020
For the second time in a week, suit has been filed against the fiduciaries of the $4.4 billion ADP TotalSource Retirement Savings Plan—but with some interesting twists, including allegations about the use of “confidential plan participant data for profit.”
Recently, suit had been brought by a...
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By Nevin E. Adams 12/23/2019
One of the first universities to find itself targeted in a 403(b) excessive fee suit has asked the nation’s highest court to resolve the threshold for getting to trial.
The suit was not only one of the first of the university 403(b) excessive fee suits to be filed (and yes, by the firm of...
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By Nevin E. Adams 12/23/2019
The Labor Department has weighed in on a case with significant implications for ERISA litigation cases.
The suit, brought in the U.S. District Court for the Eastern District of Pennsylvania on behalf of a potential class of terminated Wawa, Inc. employees, alleged that Wawa, its ESOP plan trustees...
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On Oct. 22, the Department of Labor (DOL) released a proposed rule that would provide the ability to default participants into electronic disclosure of certain required participant documents. This week, we’d like to know what you think, and how you’d improve/modify that proposal, if at all.
As...
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