Nevin & Fred

Last August  President Trump signed an executive order directing the Secretary of Labor to, among other things, “reexamine the Department of Labor’s guidance on a fiduciary’s duties regarding alternative asset investments in ERISA-governed 401(k) and other defined-contribution plans” – a stance widely seen as encouraging the consideration of alternative assets in defined contribution plans, includ...

On March 30, the Employee Benefit Security Administration(EBSA) published its much-anticipated response to President Trump’s Executive Order on Alternative Investments. What, if anything, does it mean? In this episode Nevin (Adams) and Fred (Reish) look at theproposal—what it says (and doesn’t), the six factors to be considered—and one that isn’t—the process ahead, and its implications for plan fi...

On March 12, Judge Jeremy D. Kernodle in the US DistrictCourt for the Eastern District of Texas approved a motion to vacate the Retirement Security Rule. What does that mean for retirement security? The motion to vacate – essentially waving a judicial wand tomake it as though the regulation never existed – was unopposed by the Department of Labor. But what does that mean for retirement plan adviso...

On February 3, Nevin (Adams) and Fred (Reish) met with a very special group of third-party administrators. Recorded live at the SoFi Center (home of TGL, Tomorrow’s Golf League), the podcasting pair dealt with some of the most timely and critical issues confronting retirement plan professionals at the Definiti-sponsored event .  In Part 1, we covered: 3(16) Pooled Employer Plans (PEPs) But in Part...

On February 3, Nevin (Adams) and Fred (Reish) met with avery special group of third-party administrators at an event sponsored by Definiti. Recorded live at the SoFi Center (home of TGL, Tomorrow’sGolf League), the podcasting pair dealt with some of the most timely and critical issues confronting retirement plan professionals at the Definiti-sponsored event .  We’re talking things like: 3(16) Pool...

‘Tis the season for “best of,” “most,” and of course, “naughty and nice” list making.  In this episode Nevin (Adams) and Fred (Reish) share theirs with regard to retirement plans. In that holiday classic “Santa Claus is Coming to Town,”Santa is said to be “making a list and checking it twice…” all with the purpose of finding out “who’s naughty and nice.” Well, in this special holiday-inspired epis...

Plan sponsors have a lot to do – and a lot to do withhelping Americans prepare for retirement – and a lot of things that help them do so.  In this episode, Nevin (Adams) and Fred (Reish) share their lists of things plan sponsors should be thankful for this holiday. There’s obviously a LOT to be thankful for, not the least ofwhich is that plan sponsors are often doing what they do for retirement pl...

As Halloween approaches, and thoughts turn to ghosts,goblins and things that go bump in the night, Nevin (Adams) & Fred (Reish) turned their focus to things that SHOULD have the attention of (and perhaps even scare) plan fiduciaries. Now, there are lots of things that require careful attention, selection and monitoring of plan assets and services by planfiduciaries; advisors and plan sponsors...

On September 15, the IRS/Treasury announced the much-anticipated final regulations on SECURE 2.0’s new limits on catch-up contributions.  In this episode Nevin & Fred talk about what lies ahead. These final regulations apply to retirement plans thatpermit participants who have attained age 50 to make additional elective deferrals that are catch-up contributions—which will now be restricted to...

On August 7, President Trump issued a much-anticipatedexecutive order, directing the Labor Department to (re)consider barriers to defined contribution plans accessing alternative investments.  Nevin & Fred check it out – and theimplications. More specifically, an executive order directed the Secretary of Labor to, among other things, “reexamine the Department of Labor’s guidance on a fiduciary...

In recent days, federal courts have dismissed two notablesuits regarding forfeiture reallocation, but most notably the Labor Department has now weighed in on behalf of plan fiduciaries in another case.  Could this be a turning point?  Nevin & Fred weigh in. The suits – against JP Morgan and Wells Fargo – weredismissed in different courts on different grounds.  Still, they came at a time, and i...

Some call them “lies”—but in this episode, Nevin (Adams) andFred (Reish) highlight some of the most common—and confusing topics—about retirement plan responsibilities. Inspired by Fred Barstein’s “ 10 Biggest Lies Told to 401(k) Plan Sponsors ,” the prolific podcasting pair parse a passel of problematic misperceptions regarding retirement plan responsibilities. We’re talking about things like: RFP...

Nevin (Adams) & Fred (Reish) brought their prolific,pugnacious, and provocative perspectives in a live podcast format to the record-breaking NAPA 401(k) Summit. In part 1 the precocious podcasting pair talked about anumber of lessons to be learned from recent litigation, including:     - Who bears the burden of proof in ERISA litigation—according to the United States Supreme Court (bad policy,...

Nevin (Adams) & Fred (Reish) brought their prolific,pugnacious, and provocative perspectives in a live podcast format to the record-breaking NAPA 401(k) Summit. That’s right, at the mid-point of the 2025 NAPA 401(k)Summit, the precocious podcasting pair talked about a number of lessons to be learned from recent litigation, including: Who bears the burden of proof in ERISA litigation—according...

As interest rates rise, so has interest in pension risktransfer (PRT)—and litigation.  Nevin & Fred take a look at what’s underlying (and undermining) that focus, aswell as a new suit alleging aggressive participant marketing. Pension risk transfer is an aptly named process undertakenby an organization that wants to transfer its pension obligations to another entity, typically an insurance com...

A “new” entrant to the forfeiture reallocation suit “suite”—and a decision in favor of fiduciary defendants.  Nevin & Fred review the latest developments. Yet another 401(k) forfeiture fiduciary breach suit has beenfiled—but there are some key differences: The plaintiffs are represented by the law firm of Schlichter Bogard, LLC. The plan involved was the largest targeted by this type of litiga...

Could plan fiduciaries violate their duty of loyalty to plan participants despite a prudent process?  A recent federal judge says yes. Nevin (Adams) & Fred (Reish) discuss. Participant-plaintiff (and pilot) Bryan P. Spence filed suit in the U.S. District Court for the Northern District of Texas in June  2023 against Defendants American Airlines, Inc., American Airlines Employee Benefits Commit...

With apologies to Charles Dickens, Nevin & Fred have done a special year-end tribute (of sorts) to the “ghosts” of retirement past, present – and future. Several weeks back Brian Brashaw issued a challenge (of sorts) to the podcasters of the retirement industry.  Specifically, he expressed an interest in that unique and special group doing a podcast “visited by three spirits: ghosts of 401k pa...

It’s the holiday season, and Santa isn’t the only one making a list and checking it twice. Let’s face it, SECURE 2.0 has a LOT of good, interesting—and potentially complicated options.  But there are some that AREN’T optional, like the requirement that new plans adopted after the signing of the legislation into law have to automatically enroll eligible participants beginning in January 2025.  What...

On October 21, the dynamic podcasting duo of Nevin (Adams) & Fred (Reish) brought their engaging, informative, and occasionally alliterative discussion to ASPPA Annual. As one might expect from a crowd composed of the nation's leading recordkeepers and third party administrators (and a bunch of experts that help them succeed), the discussion was, as always, wide-ranging, including constantly c...

In a “live” version of the Nevin & Fred podcast at the Strategic Retirement Partners (SRP) annual conference, Nevin & Fred (& Bonnie Treichel & Tom Clark) covered recent litigation trends—and more! In recent months, the plaintiffs’ bar has “discovered” a new litigation target:  the use of forfeitures to offset employer contributions, rather than to offset plan fees or to reallocate...

The so-called fiduciary rule has been stayed—and legal challenges regarding forfeiture reallocation are picking up.  Nevin & Fred discuss what you should be doing…now. About a month ago two separate federal judges put a hold on the effective date (09/23) of the Labor Department’s new fiduciary rule—indefinitely.  n  ordering the stay , United States District Judge Jeremy D. Kernodle explained...

With far-reaching implications—likely including the Labor Department’s fiduciary rule—the nation’s highest court has set aside a long-standing judicial deference to federal regulators in interpreting the law.  In this episode Nevin (Adams) and Fred (Reish) consider the impact(s). While the full implications will take time to emerge, it’s almost certainly going to produce more litigation, and in th...

The SECURE 2.0 Act of 2022 included dozens of new OPTIONAL plan design choices for plan sponsors. Nevin (Adams) and Fred (Reish) explore the findings of a new survey of which plan design choices plan sponsors are most likely to adopt. To gain a better understanding of which optional provisions of the SECURE 2.0 Act plan sponsors are most likely to adopt, Fidelity Investments recently invited more...

In this episode, Nevin & Fred discuss new lawsuits regarding fiduciary breaches on the use of plan forfeitures, a managed account default – and the Labor Department’s new fiduciary rule. In late May a motion to dismiss the suit in one of the half-dozen (and counting) suits challenging the use of plan forfeitures to reduce employer contributions was itself dismissed, with a federal judge decidi...