Nevin Adams

With the impetus of the Bipartisan Budget Act of 2018, the IRS has provided for comment some much-anticipated new proposed regulations on hardship distributions. Generally speaking, the changes will make it easier for participants to get, and to get more, when requesting a hardship distribution –... READ MORE

Four universities have now won their case in court against excessive fee claims. The most recent victor is St. Louis-based Washington University in a suit involving the $3.8 billion Washington University Retirement Savings Plan. The suit, brought on behalf of the plan’s more than 24,000... READ MORE

The law firm of Schlichter, Bogard & Denton has added another claim based on a revenue-sharing arrangement it uncovered during discovery related to an excessive fee suit. The suit, the second filed against plan fiduciaries at Duke University on behalf of plaintiffs Kathi Lucas, Jorge Lopez and... READ MORE

A number of claims were dismissed in a university 403(b) excessive fee suit – but the “wins” appear to have been mostly by forfeit.  The plaintiffs might well have seen a negative result coming when Chief Judge William E. Smith began by referring to theirs as “one of many, look-alike lawsuits1... READ MORE

The plaintiffs in a 403(b) university plan excessive fee lawsuit have been allowed to add another claim to that suit: that fiduciaries failed to protect plan assets by allowing third parties to market services to participants. Federal Magistrate Judge Joe Brown of the U.S. District Court for the... READ MORE

Roughly a year to the day after first filing suit, plaintiffs and the University of Chicago have entered into a class action settlement for a $6.5 million cash payment and changes to the university’s $3 billion plan. The comes several months after a federal judge reinstated claims he had... READ MORE

The Labor Department finally came up short in federal court — but trade industry headlines notwithstanding, like Mark Twain, the rumors of the fiduciary rule’s “demise” might be a bit premature.It was the first loss in court (U.S. Chamber of Commerce v. DOL, 5th Cir., No. 17-10238, order reversing... READ MORE

The American Retirement Association has named Joseph A. Caruso, III, JD, MSPPM as Government Affairs Counsel for the NTSA and its ARA sister organization, the National Association of Plan Advisors (NAPA), effective Feb. 12.In his new role, Caruso will be involved with federal and state lobbying on... READ MORE

Defendants successfully made their case in staving off a decision in a case involving Princeton University’s 403(b) plans, and in so doing placed their bets on the outcome of another case in the 3rd Circuit.The SuitThe original suit, Nicolas v. Trs. of Princeton Univ. (D.N.J., No. 2:17-cv-03695,... READ MORE