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Nevin E. Adams J.D.

The CalSavers Retirement Savings Program is being challenged in court—and now the Labor Department has weighed in.   It’s not the first time the Administration has weighed in on the legality of the program, specifically its preemption under ERISA,[1] or that it has expressed issues with the... READ MORE
Noting its concern “that the growing emphasis on ESG investing may be prompting ERISA plan fiduciaries to make investment decisions for purposes distinct from providing benefits to participants and beneficiaries and defraying reasonable expenses of administering the plan,” the Labor Department has... READ MORE
This Father’s Day, I’ve been thinking about my dad, the life he led, the choices he made, and the legacy he left behind.   I’m not talking about money. In fact, I didn’t learn anything about finance from my dad—he avoided big purchases with the fervor of Ebenezer Scrooge, though he’d spend that... READ MORE
In the midst of historic market volatility, a new survey of retirement plan sponsors and retirement plan advisors reveals gaps in focus—and perception—about the role of fixed income investments in a fully diversified 401(k) menu.   The new survey—sponsored by Janus Henderson Investors, conducted... READ MORE
The New York Regional Office of the Employee Benefit Security Administration is said to be seeking a long list of information from plans with ESG funds—about the selection and review process for those options. [UPDATED JUNE 17, ADDING A LINK TO THE LETTER] In recent weeks, there have been reports... READ MORE
The parties in one of the first university 403(b) plan excessive fee suits[1] filed in 2016 have come to terms.   This time the settlement (Henderson v. Emory Univ., N.D. Ga., No. 1:16-cv-02920, motion for preliminary settlement approval 5/29/20) involves the Emory University Retirement Plan and... READ MORE
Concluding that “courts sometimes make standing law more complicated than it needs to be,” in a 5-4 decision, the nation’s highest court has ruled that plaintiffs in a suit involving a defined benefit plan hadn’t incurred the loss of benefits necessary to establish the right to bring suit.   More... READ MORE
A university that had won a dismissal of claims in an excessive fee suit will now have to confront some of those charges.   Noting that, “at this point, the complaint only needed to give the district court enough to infer from what is alleged that the process was flawed,” the Eighth Circuit Court... READ MORE
Long weekend notwithstanding, chances are you’ve not yet delved deeply into the Labor Department’s final rule on default electronic disclosure. Regardless, here are some things you might have missed.   The much-anticipated final rule was rolled out early on the morning of May 21. While “... READ MORE
The Labor Department wants you (and your clients) to stop including Personal Identifiable Information (PII) on Form 5500 filings. Scott C. Albert, QPA, Chief of the DOL’s Division of Reporting Compliance, explains that the agency makes the information in Forms 5500/5500-SF available to the public... READ MORE