Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams11/21/2017 • 0 Comments

In a big win for the lobbying efforts of the American Retirement Association’s Government Affairs Committee (GAC), the IRS has dropped a series of compliance questions from the 2017 Form 5500. READ MORE

By Nevin Adams11/17/2017 • 0 Comments

The National Association for Fixed Annuities hasn’t had much success thus far in its litigation challenging the Department of Labor’s (DOL) fiduciary regulation — until now. READ MORE

By Nevin Adams11/13/2017 • 0 Comments

A weekend of lobbying on Capitol Hill has yielded some encouraging news on tax reform – but serious problems remain for retirement plans. READ MORE

By Nevin Adams11/10/2017 • 0 Comments

All too often the innovations honored with a Nobel Prize fly under the radar of “regular” Americans. But that wasn’t the case recently when the work of University of Chicago’s Richard Thaler was acknowledged. READ MORE

By Nevin Adams11/7/2017 • 0 Comments

The long-standing dispute over the fiduciary regulation’s anti-arbitration clause has finally drawn to a close – and something of a “win-win.” READ MORE

By Nevin Adams11/6/2017 • 0 Comments

A major – and as yet largely unreported – change in the tax reform bill unveiled last week could have a dramatic impact on nonqualified deferred compensation. READ MORE

By Nevin Adams, Ted Godbout11/3/2017 • 0 Comments

House Republican leaders on Nov. 2 released their much-anticipated tax reform plan that left 401(k)s and IRAs alone, but contained a number of proposals to modify various pension and retirement savings provisions. READ MORE

By Nevin Adams11/2/2017 • 0 Comments

The House GOP tax reform proposal released this morning “makes no changes to the popular retirement savings options that Americans have today – including 401(k)s and Individual Retirement Accounts, or IRAs.” But there are some potential issues. READ MORE

By Nevin Adams11/1/2017 • 0 Comments

Apparently we’ll have to wait another day to find out what House Republicans have in mind for tax reform. READ MORE

By Nevin Adams10/22/2017 • 0 Comments

In recent days, there have been a number of reports about the potential for tax reform proposals to incorporate "Rothification" of 401(k)s -- a loss of, or reduction in, the amount of employee contributions allowed on a pre-tax basis -- perhaps capped at $2,400. How many savers would that impact? READ MORE

By Nevin Adams10/18/2017 • 0 Comments

The Department of Labor (DOL) continues to fight an attempt by at least one fiduciary rule opponent to pursue its case in court. READ MORE

By Nevin Adams10/13/2017 • 0 Comments

There’s an old saying that when you assume… well, here are six assumptions that can create real headaches for retirement plan fiduciaries. READ MORE

By Nevin Adams10/9/2017 • 0 Comments

Nearly 800 votes have already been cast. Don’t miss your chance to help shape ASPPA’s advocacy agenda — and a general session focus at ASPPA Annual! READ MORE

By Nevin Adams10/6/2017 • 0 Comments

If you’re still struggling to figure out how to reach Millennials (even if you are a Millennial), take heart — there’s (already) another generational cohort entering the workforce. READ MORE

By Nevin Adams9/29/2017 • 0 Comments

If you’re one of those people who inevitably put things off to the last minute — or maybe you just have a fear of “commitment” — yes, this post is for you. Consider this your call to action. READ MORE

By Nevin Adams9/7/2017 • 0 Comments

Sen. Elizabeth Warren (D-MA) says that financial firms are “fully ready” to comply with the fiduciary rule — and you don’t need to take her word for it. READ MORE

By Nevin Adams9/6/2017 • 0 Comments

Watching the incredible, heart-rending coverage of Hurricane Harvey’s devastation, I was reminded of a personal experience with nature’s fury. READ MORE

By Nevin Adams8/31/2017 • 0 Comments

The Labor Department says it won’t enforce a provision of the fiduciary rule’s arbitration ban. READ MORE

By Nevin Adams8/30/2017 • 0 Comments

The Labor Department has made its proposed delay in the full application of the Best Interest Contract Exemption till July 1, 2019 official. READ MORE

By Nevin Adams8/28/2017 • 0 Comments

A new excessive fee suit claims that plan fiduciaries “abdicated” their responsibilities, allowing the plans’ trustee “…to load the Plans with high-cost mutual funds.” READ MORE

By Nevin Adams8/25/2017 • 0 Comments

In a written response to a judge in litigation involving the fiduciary rule’s anti-arbitration provision, the Labor Department says the provision will “likely be mooted in the near future.” READ MORE

By Nevin Adams8/25/2017 • 0 Comments

The class of 2021 has the advantage of time, a full career to save and build, to save at higher rates, and to invest more efficiently and effectively. READ MORE

By Nevin Adams8/23/2017 • 0 Comments

A new report finds that recordkeeping, trust and custody fees didn’t drop for the first time since 2010. Then again, they didn’t increase, either. READ MORE

By Nevin Adams8/9/2017 • 0 Comments

The Labor Department has submitted a proposal to the Office of Management and Budget (OMB) to extend the transition period and full BIC applicability date of the fiduciary regulation. READ MORE

By Nevin Adams8/7/2017 • 0 Comments

The fiduciary regulation got another day in court last week — and, for a change, this time the regulation’s challengers appeared to draw blood. READ MORE

By Nevin Adams8/5/2017 • 0 Comments

Ascensus, already tapped to administer the OregonSaves state-run IRA program, has landed another client. READ MORE

By Nevin Adams7/27/2017 • 0 Comments

A new Morningstar analysis finds no relationship between fund manager changes and future returns — but there are impacts. READ MORE

By Nevin Adams7/17/2017 • 0 Comments

The good news is that the funding level of that critical financial underpinning of the nation’s retirement security didn’t decrease during the past year. READ MORE

By Nevin Adams6/22/2017 • 0 Comments

The Golden State has modified the legislation regarding its state-run auto-IRA program for private sector workers in place, readying the measure for Gov. Jerry Brown’s expected signature. READ MORE

By Nevin Adams6/7/2017 • 0 Comments

The DOL has taken its first step in the review of the fiduciary regulation ordered by President Trump earlier this year. READ MORE

By Nevin Adams6/6/2017 • 0 Comments

Plaintiffs have fallen short in their second attempt to convince a federal judge of the merits of their case in an excessive fee class action suit. READ MORE

By Nevin Adams5/30/2017 • 0 Comments

A beneficiary whose “claim had no merit” has been ordered to pick up some of the legal fees incurred defending against the suit — a case that provides an interesting perspective on the costs of defending ERISA litigation. READ MORE

By Nevin Adams5/23/2017 • 0 Comments

The Department of Labor (DOL) has published a new set of FAQs about the fiduciary regulation, these focused on the so-called “transition period” from June 9, 2017 to Jan. 1, 2018. READ MORE

By Nevin Adams5/12/2017 • 0 Comments

One of the more novel legal arguments opposing the fiduciary regulation has resurfaced in an amicus (friend of the court) filing. READ MORE

By Nevin Adams5/4/2017 • 0 Comments

The DOL is planning to undertake a long-term research study to collect data and answer important research questions on how retirement planning strategies and decisions evolve. READ MORE

By Nevin Adams4/25/2017 • 0 Comments

Plan sponsors and administrators got some good news on April 20 from the IRS regarding the calculation of maximum participant loan amounts. READ MORE

By Nevin Adams4/24/2017 • 0 Comments

A recent article in the Wall Street Journal cautions: “Grab Your Pitchforks, Your 401(k) May Need Defending From Congress.” READ MORE

By Nevin Adams4/21/2017 • 0 Comments

A new white paper says that fund changes already underway in response to the Department of Labor’s (DOL) fiduciary regulation may well have broad beneficial effects. READ MORE

By Nevin Adams4/6/2017 • 0 Comments

The same folks who once referred to advisors as a “colony of termites” eating away at American’s retirement savings have now unveiled a “Retirement Ripoff Counter.” READ MORE

By Nevin Adams4/5/2017 • 0 Comments

The Labor Department made it official yesterday, pushing the April 10 applicability date of the fiduciary rule back the widely anticipated 60 days to June 9 – but providing some additional compliance space on the Best Interest Contract Exemption. READ MORE

By Nevin Adams3/27/2017 • 0 Comments

With health care reform off the table (at least for the moment), Congress will now turn to… tax reform. READ MORE

By Nevin Adams3/26/2017 • 0 Comments

The headlines may not be about the things that are likely to get plans and plan sponsors in trouble. Here are seven that are more likely to gum up the works. READ MORE

By Nevin Adams3/22/2017 • 0 Comments

The fiduciary regulation wasn’t a big focus of the hearing on Alexander Acosta’s nomination as Secretary of Labor — but it did come up. READ MORE

By Nevin Adams3/15/2017 • 0 Comments

A group of plaintiffs in the fiduciary regulation litigation have petitioned the court to maintain the status quo pending their appeal. READ MORE

By Nevin Adams3/13/2017 • 0 Comments

The future is uncertain, and planning for uncertainty inevitably involves making assumptions. Here are six that, done improperly, can wreck your retirement. READ MORE

By Nevin Adams3/1/2017 • 0 Comments

The Labor Department is proposing to extend the applicability date of the fiduciary regulation by a mere 60 days — while taking (just) the next 15 days to collect comments on that proposal. But that’s not all. READ MORE

By Nevin Adams2/28/2017 • 0 Comments

Those challenging the DOL fiduciary regulation in court haven’t had much success to date — but now one set of litigants is taking that decision to a higher court. READ MORE

By Nevin Adams2/24/2017 • 0 Comments

When it comes to spending in retirement, a lot could come down to where you live. READ MORE

By Nevin Adams2/23/2017 • 0 Comments

The DOL has managed to keep its perfect record intact — losing another request to grant a stay in a pending case regarding the fiduciary rule. READ MORE

By Nevin Adams2/22/2017 • 0 Comments

The Department of Labor kept its undefeated string going with another win in court, and one that had an element of déjà vu. READ MORE

By Nevin Adams2/9/2017 • 0 Comments

The Labor Department is now 3-0 in defending the fiduciary regulation in court. READ MORE

By Nevin Adams2/3/2017 • 0 Comments

President Trump has tackled the Labor Department’s fiduciary rule, just weeks ahead of the April 10 implementation date.

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By Nevin Adams2/2/2017 • 0 Comments

Forget the rumors — the change in administrations in Washington apparently hasn’t stilled the DOL's legal defense of the fiduciary rule. READ MORE

By Nevin Adams1/19/2017 • 0 Comments

People often talk about the significance of the “free” money associated with the company match in retirement savings — but there’s another source of “free” money that is often overlooked. READ MORE

By Nevin Adams1/12/2017 • 0 Comments

You’re aware of the personal liability that comes with being an ERISA fiduciary. Apparently satisfying that liability can include your Lexus — both of them. READ MORE

By Nevin Adams12/21/2016 • 0 Comments

One certainly could argue that many Americans act as though at retirement some kind of benevolent elf will drop down their chimney with a bag full of cold cash from the North Pole. READ MORE

By Nevin Adams12/20/2016 • 0 Comments

The plaintiffs in the only excessive fee suit to reach the Supreme Court will get another chance to make their case. READ MORE

By Nevin Adams12/16/2016 • 0 Comments

In the spirit of the holiday season, here are some “presents” that participants hopefully will find in their retirement plan “stockings” during the coming year: READ MORE

By Nevin Adams12/1/2016 • 0 Comments

Knocked down twice by the D.C. District Court, the National Association for Fixed Annuities has filed an emergency motion asking the U.S. Court of Appeals for the D.C. Circuit to halt the rule while NAFA’s appeal proceeds. READ MORE

By Nevin Adams11/29/2016 • 0 Comments

A second federal court has weighed in on the legal challenges presented to the Department of Labor’s (DOL) Fiduciary Rule. READ MORE

By Nevin Adams11/28/2016 • 0 Comments

Though acknowledging that the fiduciary rule is likely to cause “significant changes” in how the industry operates and “substantial compliance costs” and “economic losses,” the federal judge who rejected a challenge to the Fiduciary Rule won’t hold up its application. READ MORE

By Nevin Adams11/18/2016 • 0 Comments

Americans may be talking about working longer, but does U.S. tax policy work against those who do? READ MORE

By Nevin Adams11/9/2016 • 0 Comments

What most people — and nearly every pundit – thought could never happen — has. READ MORE

By Nevin Adams10/28/2016 • 0 Comments

The 24-page document covers a lot of ground in the form of 34 questions, and while much of it seems to confirm what had been understood (or assumed), the first wave of FAQs certainly provides some comfort – and in some cases clarifies key issues. READ MORE

By Nevin Adams10/6/2016 • 0 Comments

Not only has everybody been making preparations for the implementation of the DOL's fiduciary regulation, we’ve had the prospects of litigation regarding its legality and the authority of the DOL to undertake it — and we’ve still got a presidential election to go. READ MORE

By Nevin Adams9/26/2016 • 0 Comments

It’s not hard to find scary headlines about 401(k)s — seems as though every week you read how people aren’t saving enough, are worried that they aren’t saving enough, aren’t saving enough and aren’t worried that they aren’t saving enough… READ MORE

By Nevin Adams9/23/2016 • 0 Comments

We hear a lot about the crushing load of student debt many Millennials carry these days — but is it having an impact on retirement plan participation? READ MORE

By Nevin Adams9/21/2016 • 0 Comments

Plan sponsors and TPAs just got what is probably a much-appreciated time extension from the Department of Labor. READ MORE

By Nevin Adams9/16/2016 • 0 Comments

ERISA attorney Marcia Wagner explains that, at least at its narrowest scope, the new fiduciary rule would have no effect on plans that already have strong retirement plan committees comprised of qualified internal representatives aided by independent fiduciaries. READ MORE

By Nevin Adams9/7/2016 • 0 Comments

Apparently the Texas judge presiding over the challenge to the Labor Department’s fiduciary regulation only wants so much help in considering the issues. READ MORE

By Nevin Adams8/24/2016 • 0 Comments

The IRS has provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day rollover window. READ MORE

By Nevin Adams8/17/2016 • 0 Comments

It’s been not quite 10 years since St. Louis-based law firm of Schlichter, Bogard & Denton launched about a dozen “excessive fee” lawsuits; in the years since then the firm has sharpened their pencils, and their criticism.
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By Nevin Adams7/28/2016 • 0 Comments

State-run retirement programs for the private sector — and those who might be affected by them — could soon get some additional clarity from the Department of Labor (DOL). READ MORE

By Nevin Adams7/21/2016 • 0 Comments

Here are five things that individuals should know about sitting down and doing a retirement needs calculation.
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By Nevin Adams7/20/2016 • 0 Comments

What’s worse than one class action lawsuit alleging a fiduciary breach? READ MORE

By Nevin Adams7/13/2016 • 0 Comments

While one plaintiff’s law firm had been looking for “potential violations” of ERISA in failing to remove a specific mutual fund from the plan menu — another one has apparently found them. Or at least a participant willing to raise the issue. READ MORE

By Nevin Adams7/13/2016 • 0 Comments

Yet another financial services provider finds itself accused of financial self-dealing in the operation of its 401(k) plan. READ MORE

By Nevin Adams7/13/2016 • 0 Comments

If your plan sponsor clients are working to get a DB determination letter, the IRS now wants to know if those plans have lump sum risk transfer language. READ MORE

By Nevin Adams7/12/2016 • 0 Comments

The Department of Labor wants the information form that private-sector employee benefit plans file each year to have more information — and to be more “mineable.”
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By Nevin Adams7/11/2016 • 0 Comments

The Department of Labor (DOL) has made some “technical corrections” to the Best Interest Contract (BIC) Exemption of the fiduciary regulation. READ MORE

By Nevin Adams7/8/2016 • 0 Comments

A House appropriations bill takes another shot at the Department of Labor’s (DOL) fiduciary rule, while a litigant’s suit has now jumped to the front of the hearing queue. READ MORE

By Nevin Adams6/30/2016 • 0 Comments

Defying the wishes of plan sponsors and the Employee Plans Subcommittee (EP Subcommittee) of the Advisory Committee on Tax Exempt and Government Entities (ACT), the IRS will make significant reductions in its determination letter program. READ MORE

By Nevin Adams6/21/2016 • 0 Comments

The three lawsuits filed against the Department of Labor’s (DOL) fiduciary regulation in the Northern District of Texas could be coming together. READ MORE

By Nevin Adams6/17/2016 • 0 Comments

I’ve long enjoyed John Oliver’s take on the world. He has a gift for bringing humor to subjects that aren’t generally seen as funny, and in the process not only helps make complex topics more approachable, he gives voice to the frustration that millions surely feel at the world around us. READ MORE

By Nevin Adams6/10/2016 • 0 Comments

Two more lawsuits have been filed charging the Department of Labor’s (DOL) fiduciary regulation with a host of “sins” and shortcomings. READ MORE

By Nevin Adams6/3/2016 • 0 Comments

I recently stumbled across another of those “DC plans are becoming like DB plans” articles — you know, the so-called “DB-ification” of 401(k)s? This is all supposed to be a good thing, of course, but is it? READ MORE

By Nevin Adams6/3/2016 • 0 Comments

A recent Supreme Court case that didn’t have anything to do with ERISA is already having an impact on ERISA litigation — and could have more in the years to come. READ MORE

By Nevin Adams6/2/2016 • 0 Comments

As anticipated, a number of retirement industry trade groups and the U.S. Chamber of Commerce have taken their case against the Department of Labor’s (DOL) fiduciary regulation to the courts. READ MORE

By Nevin Adams5/9/2016 • 0 Comments

In a much-anticipated ruling, the Treasury Department has rejected the Central States pension fund’s controversial petition seeking to cut participant and retiree benefits. READ MORE

By Nevin Adams5/3/2016 • 0 Comments

Every so often someone puts out a list of what are said to be the “best” 401(k) plans, based on varied benefits and plan design structure criteria. But for my money, here’s what the best plans do. READ MORE

By Nevin Adams4/7/2016 • 0 Comments

A provision in the Department of Labor’s 2015 proposed fiduciary rule that would have had a significant impact on participant education has been modified in the final rule issued April 6. The revised provision aligns with recommendations made by the American Retirement Association. READ MORE

By Nevin Adams4/1/2016 • 0 Comments

For all our industry’s long-standing concern about participant inertia, in times like these the inclination to “do nothing” is undoubtedly to the benefit of most participants. But some of them might be a little frustrated with the admonition. READ MORE

By Nevin Adams3/25/2016 • 0 Comments

I can pretty well assure you that the resilience in confidence won’t be the focus of most of the coverage of the Retirement Confidence Survey, even though the results show it. READ MORE

By Nevin Adams3/25/2016 • 0 Comments

A growing number of retirement plan participants — and retirement plan assets — are being invested in the default option selected for the plan. Whatever the origins of your plan’s default option, here are four things you should know: READ MORE

By Nevin Adams3/18/2016 • 0 Comments

For all the good press and positive results that automatic enrollment gets, one might well expect that every plan would embrace it. So, why don’t all plans use automatic enrollment — and what can you do about it? READ MORE

By Nevin Adams3/11/2016 • 0 Comments

Here are some considerations to keep in mind before you undertake a formal request for proposal (RFP). READ MORE

By Nevin Adams2/26/2016 • 0 Comments

Working with retirement plans is a complicated, challenging and constantly changing process. That said, there are certain constants — and things that bear repeating and/or reconsidering from time to time. READ MORE

By Nevin Adams2/12/2016 • 0 Comments

Two powerful congressional voices have taken several financial services firms to task for characterizing the Department of Labor’s fiduciary rule proposal as “unworkable” with dire consequences if enacted — while painting a very different picture for their investors. READ MORE

By Nevin Adams1/29/2016 • 0 Comments

Neither rain, nor snow, nor dark of night could keep the Labor Department from getting the updated conflict-of-interest/fiduciary regulation to the Office of Management and Budget for review. READ MORE

By Nevin Adams1/26/2016 • 0 Comments

A recent Supreme Court ruling may have implications for retirement plan overpayment recoveries. READ MORE

By Nevin Adams1/5/2016 • 0 Comments

It is something of a tradition this time of year to look back, to reminiscence about past events and lessons learned, and sometimes to look ahead. Here are some insights that should help lay the groundwork for a productive and prosperous 2016. READ MORE

By Nevin Adams12/29/2015 • 0 Comments

Every plan, and every investment committee, is unique — and yet, conducted properly, there are inevitably areas of commonality. Here are some questions that could enhance the discussion, if not the outcome, of your next meeting.
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By Nevin Adams12/21/2015 • 0 Comments

The court in Tussey v. ABB Inc. No. 2:06-cv-04305 (W.D. Mo. Dec. 9, 2015) has awarded attorney fees roughly equal to the total damages assessed in the excessive fee case — but it won’t come close to covering their costs. READ MORE

By Nevin Adams12/18/2015 • 0 Comments

A diverse group of retirement industry experts has weighed in on what the world of 2019 could look like — and while their view was relatively optimistic, in some respects it wasn’t as much change as you might think. READ MORE

By Nevin Adams12/9/2015 • 0 Comments

Shopping for a new provider is not something one would normally compare with a Black Friday foray, but if you have a plan sponsor — or plan sponsor prospect — who’s thinking about shopping for a new provider, here’s a list they may find useful. READ MORE

By Nevin Adams12/7/2015 • 0 Comments

The team of Portman and Cardin have put their heads, and pens, together in a letter to Labor Secretary Tom Perez about the Department of Labor’s fiduciary proposal. READ MORE

By Nevin Adams12/7/2015 • 0 Comments

There are a lot of questions that plan fiduciaries should ask, but here are five W’s and an H that every new plan fiduciary — or every “old” fiduciary who is new to a plan — should ask. READ MORE

By Nevin Adams12/3/2015 • 0 Comments

A congressional subcommittee hearing Dec. 2 gave voice to the conflicting perspectives on the Department of Labor’s (DOL) fiduciary proposal, though it seems unlikely that anyone’s perspective was changed. READ MORE

By Nevin Adams11/18/2015 • 0 Comments

Another “excessive fee” lawsuit was settled recently — but what’s more interesting than the settlement amount is the speed with which it was reached and how it’s going to be spread among the parties. READ MORE

By Nevin Adams11/17/2015 • 0 Comments

Retirement seems close for some, but whether you’ve been saving or not, or not saving enough — here are six things Boomers need to know about saving for retirement. READ MORE

By Nevin Adams11/16/2015 • 0 Comments

The Department of Labor on Nov. 16 unveiled a proposed rule to clarify ERISA's application to state-run IRA programs, creating an unfair advantage for those programs over those offered by the private sector. READ MORE

By Nevin Adams11/9/2015 • 0 Comments

Working with retirement plans is a complicated, challenging and constantly changing process; nonetheless, there are certain constants — and things that bear repeating and/or reconsidering from time to time.
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By Nevin Adams10/20/2015 • 0 Comments

Choice architecture – a behavioral science application that includes things like automatic enrollment – works, but it is not the entire solution to worker savings behavior. READ MORE

By Nevin Adams10/1/2015 • 0 Comments

Millennials are living longer, and many will have to finance retirements that are actually longer than their working careers. Here are five things they should know about saving for retirement.
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By Nevin Adams9/24/2015 • 0 Comments

When it comes to workplace retirement plans, there are three kinds of people: those who are ERISA fiduciaries and know it, people who aren’t ERISA fiduciaries and know it, and people who are ERISA fiduciaries and don’t know it. READ MORE

By Nevin Adams9/16/2015 • 0 Comments

Doing all that the law requires of a plan sponsor and doing everything that could be done are often different things. Here are five things plan sponsors don’t always do — but should. READ MORE

By Nevin Adams9/3/2015 • 0 Comments

The Department of Labor (DOL) is moving ahead with its effort to make it easier for states to offer retirement initiatives without running afoul of federal law, sending a proposed rule to the Office of Management and Budget (OMB) for review Sept. 1. READ MORE

By Nevin Adams9/2/2015 • 0 Comments

Case law has recognized the right of a fiduciary to recover overpayments, but a recent case involving a pension plan’s attempted recovery highlights some of the potential hurdles. READ MORE

By Nevin Adams8/27/2015 • 0 Comments

ASPPA’s Retirement Plan Academy is working on an update of the Retirement Plan Fundamentals (RFP) certificate, and would like to enlist YOUR help in identifying the biggest pitfalls or complicating factors in a conversion. READ MORE

By Nevin Adams8/10/2015 • 0 Comments

The public comment period may have closed, but a group of U.S. Senators has weighed in on the proposed fiduciary regs — and lent their support to a recommendation of the American Retirement Association. READ MORE

By Nevin Adams7/28/2015 • 0 Comments

None other than a fellow federal agency has said in its a comment letter on the Labor Department’s fiduciary proposal that the proposal fails to adequately estimate its cost or the number of firms affected by it. READ MORE

By Nevin Adams7/14/2015 • 0 Comments

Diamonds may be forever, but apparently fiduciary liability for choosing annuities in a DC plan is not: That’s likely the most significant takeaway from Field Assistance Bulletin (FAB) 2015-02. READ MORE

By Nevin Adams7/10/2015 • 0 Comments

Plan sponsors who want to “de-risk” their pension plans will no longer be able to give participants who are receiving monthly annuity benefits the option to convert that benefit to a lump sum, according to new rules from the IRS. READ MORE

By Nevin Adams6/18/2015 • 0 Comments

A House bill would stop the Department of Labor’s fiduciary proposal by cutting off funding to implement the measure. READ MORE

By Nevin Adams6/16/2015 • 0 Comments

A new report by the Congressional Budget Office confirms that in the years to come the U.S Treasury will receive “significant” tax revenues from retirement plan withdrawals. READ MORE

By Nevin Adams5/19/2015 • 0 Comments

Those looking for a bright line of illumination from the U.S. Supreme Court on fiduciary responsibilities in a 401(k) revenue-sharing case were likely disappointed May 18. READ MORE

By Nevin Adams4/22/2015 • 0 Comments

The 2015 Retirement Confidence Survey by the nonpartisan Employee Benefit Research Institute and Greenwald & Associates finds that the nation’s retirement confidence continues to rebound from recent record lows — but not for everyone. READ MORE

By Nevin Adams4/8/2015 • 0 Comments

Industry pundits (and many advisors) continue to tout retirement plan lifetime income options but current trends don’t appear favorable, according to John Haley, Chief Executive Officer at Towers Watson. READ MORE

By Nevin Adams4/6/2015 • 0 Comments

Plans that have, or have been contemplating, automatic enrollment features just got some good news from the Internal Revenue Service. READ MORE

By Nevin Adams3/18/2015 • 0 Comments

Your plan sponsor clients just got a little more breathing room on annual 401(k) plan investment notices, courtesy of the DOL.
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By Nevin Adams2/26/2015 • 0 Comments

The Government Accountability Office recommends that DOL require plan sponsors to notify the agency when they implement lump sum windows, and coordinate with Treasury to clarify guidance on the information sponsors provide participants.

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By Nevin Adams2/25/2015 • 0 Comments

A 401(k) revenue-sharing lawsuit finally got its day before the U.S. Supreme Court.
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By Nevin Adams2/23/2015 • 0 Comments

Today President Obama, as expected, will throw his support behind the Department of Labor’s controversial fiduciary rule reproposal — but the details of the proposal remain elusive. READ MORE

By Nevin Adams2/23/2015 • 0 Comments

The Department of Labor’s much-anticipated fiduciary reproposal has drawn intense criticism from SEC Commissioner Daniel M. Gallagher.
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By Nevin Adams2/23/2015 • 0 Comments

Exceptions should not be the rule, at least not when it comes to the Department of Labor’s fiduciary regulation reproposal, according to a new white paper from the U.S. Chamber of Commerce.
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By Nevin Adams2/10/2015 • 0 Comments

In a Feb. 5 letter from Senate Committee on Homeland Security and Government Affairs Chairman Ron Johnson (R-Wisc.) to Secretary of Labor Thomas Perez, the committee requests that the DOL better explain its fiduciary regulation reproposal. READ MORE

By Nevin Adams2/3/2015 • 0 Comments

There is something of a feeling of déjà vu in President Obama’s budget proposal, certainly regarding workplace retirement plans. READ MORE

By Nevin Adams1/30/2015 • 0 Comments

The 114th Congress has gotten off to a quick start with retirement legislation.
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By Nevin Adams1/15/2015 • 0 Comments

The 7th U.S. Circuit Court of Appeals has outlined the conditions for determining the existence of a partial plan termination, ruling on the fifth appeal of what it called a “seemingly interminable class action suit.”
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By Nevin Adams1/14/2015 • 0 Comments

Illinois Attorney General Lisa Madigan (D) is arguing that the Land of Lincoln has “police powers” that allow it to change a contract in extraordinary circumstances, including changes to the state’s public pensions contained in a 2013 pension overhaul.
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By Nevin Adams1/7/2015 • 0 Comments

Despite media attention surrounding the Millennial Generation’s relatively poor economic outcomes during the Great Recession, a new analysis by researchers at the Federal Reserve finds that they have fared better on many measures than both current older adults and earlier young adults. READ MORE

By Nevin Adams1/7/2015 • 0 Comments

It was not a good year for pension funding, according to two studies of 2014 data on pension plan funding levels. READ MORE

By Nevin Adams12/19/2014 • 0 Comments

A federal district court in North Carolina has ruled that the rounding decision is a discretionary one that a plan administrator can make, and that choosing to round to five decimal places was not an abuse of discretion. READ MORE

By Nevin Adams12/8/2014 • 0 Comments

By a large bipartisan majority, the U.S. House of Representatives last week passed tax-extender relief legislation that includes a provision that would affect multiemployer pension plan funding. READ MORE

By Nevin Adams12/1/2014 • 0 Comments

The IRS has amended the safe harbor explanations provided with eligible rollover distributions to accommodate recent guidance on in-plan Roth rollovers and the allocation of taxable amounts. READ MORE

By Nevin Adams11/21/2014 • 0 Comments

Those who don't have a retirement plan had better figure out a plan B for retirement, because a new study suggests that they're more likely to misjudge their expected retirement date. READ MORE

By Nevin Adams11/20/2014 • 0 Comments

The Government Accountability Office published its final report on Individual Retirement Accounts (IRAs), offering some recommendations for Congress and the IRS on so-called “mega” IRAs. READ MORE

By Nevin Adams11/19/2014 • 0 Comments

There has been much discussion about savings trends and the unique challenges of Millennials, specifically the impact of graduating with so much college debt. But adjusted for inflation, the debt totals are very much in line with those of earlier generations. READ MORE

By Nevin Adams11/19/2014 • 0 Comments

Five Senate Finance Committee members are asking Treasury Secretary Jack Lew for some retirement plan relief. They cite testimony provided in committee and “commonsense suggestions” that include several that ASPPA and NAPA have actively promoted. READ MORE

By Nevin Adams11/11/2014 • 0 Comments

The IRS issued a clarification Nov. 10 on the application of the one-per-year limit on IRA rollovers. In Announcement 2014-32, the IRS said it had received comments about the “administrative challenges presented by the Bobrow interpretation of §408(d)(3)(B).”  READ MORE

By Nevin Adams11/10/2014 • 0 Comments

Having regained their Senate majority and deepened their hold on the House, the GOP — with a wary eye on the 2016 elections — may be ready to deal. READ MORE

By Nevin Adams11/4/2014 • 0 Comments

A new study from the Employee Benefit Research Institute notes that the probability of a worker participating in an employment-based retirement plan increased significantly along with the size of his or her employer. READ MORE

By Nevin Adams10/31/2014 • 0 Comments

The Government Accountability Office (GAO) recently reissued its preliminary report on individual retirement account (IRA) accumulations. READ MORE

By Nevin Adams10/24/2014 • 0 Comments

There were some mixed messages in the fifth annual Wells Fargo Middle-Class Retirement study about retirement savings. The headlines were (as usual) all about retirement non-saving: the 34% reportedly not currently contributing anything to a 401(k), an IRA or other retirement savings vehicle; on the other hand, 70% of those same respondents say they have a 401(k) or equivalent plan available to them through their employer, and 93% are contributing to their plans. READ MORE

By Nevin Adams10/24/2014 • 0 Comments

A new analysis claims that there are some jobs you can only seem to find in certain places. Guess where the actuarial profession stands out? READ MORE

By Nevin Adams10/24/2014 • 0 Comments

Plans interested in providing lifetime income alternatives via target-date funds that include deferred annuities got some much-needed clarity from the IRS on Oct. 24. READ MORE

By Nevin Adams10/23/2014 • 0 Comments

With more and more defined benefit plan sponsors exploring — and undertaking — pension de-risking, a pair of leading U.S. Senators have asked regulators to establish some guidelines to ensure that those covered by those programs are protected. READ MORE

By Nevin Adams10/22/2014 • 0 Comments

A new study finds that more retirees are receiving retirement income from private-sector retirement plans than in 1975, the year after ERISA came into being.

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By Nevin Adams10/8/2014 • 0 Comments

A recent article claimed that there was an imaginary retirement income crisis that was being pushed by some who want to boost Social Security benefits and reduce tax incentives for saving. Within a day, New School economics professor Teresa Ghilarducci responded. READ MORE

By Nevin Adams10/7/2014 • 0 Comments

Differences in workforce composition — not costs — appear to be a primary cause for the lower rate at which small employers sponsor retirement plans, according to a new report.
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By Nevin Adams10/2/2014 • 0 Comments

In Santomenno v. John Hancock Life Insurance Company, No. 13–3467, 2014 WL 4783665 (3d Cir. Sept. 26, 2014), the plaintiffs had argued that, as a service provider to their 401(k) plan, John Hancock was a fiduciary, and that it had breached its fiduciary duties by charging excessive fees. However, the court rejected the claims. READ MORE

By Nevin Adams10/1/2014 • 0 Comments

The nation’s private pension insurer wants a heads-up from employers about offers to participants to convert their monthly pensions to lump sum benefits. In a recent Federal Register filing, the Pension Benefit Guaranty Corporation (PBGC) said it plans to revise the 2015 PBGC premium filing procedures to require reporting of such offers. READ MORE

By Nevin Adams10/1/2014 • 0 Comments

The annual cost of living adjustments for most limits are measured using the CPI-U announced by the Bureau of Labor Statistics for July, August and September. The September rate will be released on Oct. 22 — at which point we’ll know with certainty. READ MORE

By Nevin Adams9/26/2014 • 0 Comments

A plan sponsor’s decision to eliminate an option to transfer defined contribution account balances to a defined benefit floor-offset plan didn't violate ERISA’s anti-cutback rules, according to a federal appeals court. READ MORE

By Nevin Adams9/23/2014 • 0 Comments

If you (or your plan sponsor clients) are looking for an easy-to-use guide to employee benefit plan reporting, the IRS has just the thing: a handy guide of reporting and disclosure requirements under ERISA.
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By Nevin Adams9/18/2014 • 0 Comments

The IRS has issued the much-anticipated final regulations on hybrid retirement plans and has also provided regulations on the tax treatment of distributions from Roth accounts under tax-favored retirement plans, such as 401(k), 403(b), and 457 plans. READ MORE

By Nevin Adams9/18/2014 • 0 Comments

Much is said and written about the demise of DB plans, but a recent House subcommittee hearing was focused on ways to help sustain the programs still in place. The hearing — held Sept. 17 by the Select Revenue Measures Subcommittee of the House Committee on Ways & Means — was largely devoted to talking about nondiscrimination testing issues impacting plans that had been “soft” frozen (i.e., closed to new hires) and the funding and structural challenges confronting multiemployer plans.
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By Nevin Adams9/17/2014 • 0 Comments

Apparently the ghost of Mitt Romney’s IRA continues to haunt Capitol Hill — and, if the chairman of the Senate Finance Committee has his way, retirement savings will be on the tax reform agenda. On Sept. 16, Senate Finance Committee Chairman Ron Wyden (D-Ore.) kicked off the “Retirement 2.0: Updating Savings Policy for the Modern Economy” hearing on Capitol Hill by focusing on the issue of so-called “mega” IRAs.
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By Nevin Adams9/12/2014 • 0 Comments

The IRS has issued guidance on pension funding stabilization under the Highway and Transportation Funding Act of 2014 (HATFA). Notice 2014-53, issued late on Sept. 11, addresses both the 2013 and 2014 plan years. Generally speaking, plan sponsors have until Dec. 31 (later for some non-calendar-year plans) to determine the optimal transition to HATFA segment rates.

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By Nevin Adams9/11/2014 • 0 Comments

When it rains, it pours — in a single week we have had two announcements of congressional hearings on retirement plan issues slated for next week.
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By Nevin Adams9/5/2014 • 0 Comments

A new report from the Federal Reserve finds that while retirement plan participation remained relatively flat over the past three years, the median and average value of those retirement plan accounts rose “substantially.” The report also noted that ownership of those accounts slipped below 50% in 2013, though participation levels rebounded slightly for upper-middle income families. READ MORE

By Nevin Adams9/2/2014 • 0 Comments

Forty years ago today, President Gerald Ford signed ERISA into law. In this week’s column, Nevin Adams offers his perspective on ERISA’s impact on Americans’ efforts to be better prepared financially for their retirement years.
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By Nevin Adams8/29/2014 • 0 Comments

A new report from Ernst & Young offers a global perspective and some key findings on the challenges and opportunities of various retirement markets. READ MORE

By Nevin Adams8/28/2014 • 0 Comments

The U.S. Census Bureau has published its annual survey of public pensions. The 2013 Survey of Public Pensions: State-Administered Defined Benefit Data provides revenues, expenditures, financial assets, membership and liabilities information for DB public pension systems. READ MORE

By Nevin Adams8/28/2014 • 0 Comments

What happens to executive retirement benefits when employers close or freeze their defined benefit pension plans? What if that plan is a hybrid/cash balance? And what does that mean for advisors? Towers Watson recently conducted an analysis of how Fortune 200 companies in 2013 transitioned executives after changing their underlying broad-based retirement programs to find the answers. READ MORE

By Nevin Adams8/27/2014 • 0 Comments

While every pension plan has its own unique set of circumstances, a new analysis by the BNY Mellon Investment Strategy and Solutions Group (ISSG), finds that financial services, energy and consumer staples have the best funded defined benefit plans.
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By Nevin Adams8/27/2014 • 0 Comments

It is routinely reported that “10,000 Baby Boomers are retiring every day”, and yet surveys continue to indicate that Americans plan to postpone retirement.   READ MORE

By Nevin Adams8/25/2014 • 0 Comments

With the official report not due until September, a draft report released by the Oregon legislature's Task Force on Oregon Retirement Savings offers a blueprint of a proposed new mandatory auto-IRA program for the state. 

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By Nevin Adams8/21/2014 • 0 Comments

With the ERISA fiduciary community still absorbing the impact of the Supreme Court’s rejection of the presumption of prudence standard for company stock in retirement plans, a federal appellate court has introduced a new and potentially complicating aspect to consider.

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By Nevin Adams8/21/2014 • 0 Comments

The U.S. Department of Labor has published a request for information on the use of brokerage windows, self-directed brokerage accounts and “similar features” in 401(k)-type plans. 

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By Nevin Adams8/21/2014 • 0 Comments

Seen those reports that Gen Xer retirements are looking to be even more bleak than that of Baby Boomers? Well, you might want to take another look. A new report from EBRI calls out two of those reports for ignoring some pretty basic assumptions in their analyses.

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By Nevin Adams8/18/2014 • 0 Comments

How can the fiduciaries of terminated DC plans fulfill their obligations under ERISA to locate missing participants and properly distribute the participants’ account balances? That’s a question the DOL answered in a Field Assistance Bulletin released Aug. 14.

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By Nevin Adams8/18/2014 • 0 Comments

The SEC on Aug. 11 announced securities fraud charges against the state of Kansas, claiming that the state failed to disclose that the state’s pension system was significantly underfunded, and that the unfunded pension liability created a repayment risk for investors in those bonds.


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Ted Godbout

Ted Godbout

By Nevin Adams, Ted Godbout11/3/2017 • 0 Comments

House Republican leaders on Nov. 2 released their much-anticipated tax reform plan that left 401(k)s and IRAs alone, but contained a number of proposals to modify various pension and retirement savings provisions. READ MORE