Nevin E. Adams

There’s a battle brewing in Battle Creek about excessive recordkeeping and managed account fees. Bradley H. Fleming, a former accountant at Kellogg’s, has sued his former employer, the Kellogg Co., its board of directors, its ERIA finance committee and its ERISA administrative committee claiming... READ MORE

It’s been said that there remains more that unites us than divides us—but that’s not how it feels most days.  However, such times are not all that unusual for this diverse nation. Indeed, if today’s battle lines do seem harsher and more extreme, my sense is that it’s only because they are... READ MORE

The latest academic “dig” against 401(k) plans? Vesting schedules. More specifically, firms with a combination of high turnover and vesting schedules, which means that workers are leaving behind employer contributions. Or, in the parlance of these new critics, being “robbed.”  I stumbled across... READ MORE

A federal judge has dismissed an excessive fee suit involving a $7.8 billion 401(k) plan, accepting the argument that the participant-plaintiff wasn’t even invested in the funds in question. Mind you, as we’ve noted previously, the legal standard to survive a motion by defendants to dismiss a suit... READ MORE

A new report entitled “The Missing Middle” by the National Institute on Retirement Security (NIRS) treads some all-too-familiar ground, myopically focusing on one element of the nation’s private retirement system. The articulated concern is, of course, the “middle”—an income grouping for which... READ MORE

The graduates of 2022—well, they’ve been through a lot, arguably more than most—but with any luck at all, the days and years ahead will be brighter.  Life has many lessons to teach us, some more painful than others—and some we’d just as soon be spared. Regardless, if you have a graduate—or if you... READ MORE

The law firm of Schlichter Bogard & Denton has a new target in an excessive fee suit—the plan’s investment advisor. More specifically, plaintiffs Michelle Mills, Coy Sarell, Chad Westover, Brent Aleshire, Barbara Kershner, Paula Schaub, and Jennifer Silva—who just two months ago filed suit[1]... READ MORE

In less than a year, the law firm of Capozzi Adler has wrested a settlement from a multiple employer plan accused of breaching its fiduciary duties.  The plan in question—more specifically the plan fiduciaries—targeted are those of Nextep, Inc., a professional employer organization (PEO), as well... READ MORE

As kids, we often struggle with our parents’ attempts to help us make good choices—and, at least in my family, Mom caught the brunt of all that (at least from me).  We were probably like most families at the time in that we never really talked about money or finance. Doubtless that was in no small... READ MORE