Nevin Adams

Obama Administration Wants to Open Door for Open MEPs

By Nevin Adams 1/26/2016

Harkening back to a brief reference to benefit portability in the State of the Union address, the Obama Administration has announced its desire to extend Multiple Employer Plan (MEP) access to the private sector.These so-called “open” MEPs are single retirement plans involving two or more unrelated... READ MORE

7 New Year’s Resolutions for Plan Sponsors

By Nevin Adams 1/19/2016

This is the time of year when resolutions for the cessation of bad behaviors and the beginning of better ones are in vogue. Here are mine for plan sponsors.Put your fund menu on a diet.Though it is a point often made with jellies and ice cream, a long-standing behavioral finance tenet is that more... READ MORE

Things to Know for the Year(s) Ahead

By Nevin Adams 1/5/2016

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.Things Everyone Who Works With/For Retirement Plans... READ MORE

6 Questions to Ask at Your Next Investment Committee Meeting

By Nevin Adams 12/29/2015

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.1. Do we really need to have all these funds on the menu?We know that... READ MORE

Lawyers Get More Than Plaintiffs in Excessive Fee Case

By Nevin Adams 12/21/2015

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.According to an analysis by Proskauer Rose LLP, the court awarded class counsel... READ MORE

Prescient Perspectives on the Road Ahead

By Nevin Adams 12/18/2015

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.The vast majority of this panel of experts (including yours truly) believes that by... READ MORE

6 Tips on Shopping for a Provider

By Nevin Adams 12/9/2015

My single memory of venturing out on Black Friday to shop came at the instigation of my “little” sister, who has long undertaken such forays. Nor was this to be a random shopping expedition — armed with circulars and coupons, she directed me and my two brothers with the fervor and furor of General... READ MORE

Portman, Cardin Weigh in on Fiduciary Proposal

By Nevin Adams 12/7/2015

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 (DOL’s) fiduciary proposal.Of course, then-Representatives Rob Portman (R-Ohio) and Ben Cardin (D-Md.) led the charge in the House for the Economic Growth... READ MORE

The 5 W’s: A New Plan Fiduciary Perspective

By Nevin Adams 12/7/2015

The Five W’s (or as they are sometimes called, Five W’s and one H) are questions whose answers are considered basic in information gathering in a variety of settings.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... READ MORE

House Hearing Debates Fiduciary Proposal

By Nevin Adams 12/3/2015

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.The hearing, “Principles for Ensuring Retirement Advice Serves the Best Interests of Working... READ MORE

Breaking Down an Excessive Fee Settlement

By Nevin Adams 11/18/2015

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.The settlement of the class action came in the case of Karolyn Kruger, M.D., et al v. Novant Health... READ MORE

6 Things Boomers Need to Know About Saving for Retirement

By Nevin Adams 11/17/2015

Several weeks back, I wrote a column entitled, “5 Things Millennials Need to Know About Saving for Retirement.” But what about those at the brink of retirement?Retirement seems close — perhaps too close for the comfort of Boomers, some of whom have already begun cycling into retirement. In fact,... READ MORE

DOL Gives State-Run Plans an Edge Over Private Sector

By Nevin Adams 11/16/2015

The Department of Labor (DOL) 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.The proposal includes a rule modifying the payroll deduction safe harbor to allow for... READ MORE

IRS Publishes Final Cash Balance Transition Rules, Extends Effective Date

By Nevin Adams 11/16/2015

Good news for those who work with cash balance plans: The IRS has released final regulations that provide guidance and, notably, another year to comply with, what are now final hybrid plan rules.The action comes as time was running out for the IRS to publish — and plans to implement — transitional... READ MORE

IRS Publishes Final Hybrid Transition Rules

By Nevin Adams 11/13/2015

The IRS has released final regulations that provide guidance and, notably, another year to comply with, what are now final hybrid plan rules.The action comes as time was running out for IRS to publish — and plans to implement — transitional anti-cutback relief for plan amendments reducing above-... READ MORE

5 Reasons Why More Plans Don’t Offer Retirement Income Options

By Nevin Adams 11/11/2015

A frequent commentary on today’s plan designs is that they are more focused on accumulation than the eventual spend-down of those savings.It’s said that defined contribution plans too often not only facilitate lump-sum distributions, but, in design at least, encourage them. And yet, despite a... READ MORE

5 Reasons Why Your Small Business Should Offer a Retirement Plan

By Nevin Adams 11/9/2015

People who don’t have access to a plan at work don’t save for retirement. Here’s why small business owners should care.About half of private sector workers did not participate in a workplace retirement savings program in 2012, and a recent report by the Government Accountability Office (GAO) found... READ MORE

15 Retirement Plan Points to Ponder

By Nevin Adams 11/9/2015

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.Here are a few points to ponder from my list of “constants”:1. The key to successful retirement... READ MORE

7 Behavioral Science Lessons on Communication

By Nevin Adams 10/20/2015

Choice architecture – a behavioral science application that includes things like automatic enrollment – works, but it is not the entire solution to worker savings behavior.That was one of the points made by Dr. Julie Agnew, Associate Professor of Finance and Economics at William & Mary at this... READ MORE

5 Things Millennials Need to Know About Saving for Retirement

By Nevin Adams 10/1/2015

Retirement seems a long time off — particularly when you’re young.However, Millennials — generally defined as those born between 1978 and 2004 — are living longer, and many will have to finance retirements that are actually longer than their working careers.So, while it can hardly be expected to be... READ MORE

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