Nevin & Fred

By Nevin AdamsBusiness

Nevin & Fred episodes

September 13, 2023 Season 3, Episode 11: Hot Topics – Roth Relief, Fiduciary Filings, & Crypto Calls, Oh My!
Summer may be winding down, but there’s been a LOT going on
in the retirement world. In this episode, Nevin (Adams) and Fred (Reish) run down the hot topics, and the implications behind these trends.
We’re talking about:
Breathing room from the IRS on mandatory Roth for higher
income catch-up contributions https://www.napa-net.org/news-info/daily-news/breaking-news-irs-grants-two-year-delay-roth-catch-requirements
A favorable court ruling for the Labor Department on its
compliance assistance release regarding cryptocurrency investments in defined contribution plans. https://www.napa-net.org/news-info/daily-news/401k-crypto-case-crumbles-federal-court
American Airlines pilot suit says he was invested in funds
influenced by ESG bias. https://www.napa-net.org/news-info/daily-news/breaking-news-irs-grants-two-year-delay-roth-catch-requirements
Labor Department drops off new fiduciary rule at OMB for
evaluation. https://www.napa-net.org/news-info/daily-news/breaking-news-new-fiduciary-rule-sent-omb-department-labor

37 min
August 30, 2023 Season 3, Episode 10: Suits Strike Polarizing Positions on ESG
Amidst a highly politicized environment, retirement plan
litigation focused on the inclusion of ESG (environmental, social & governance) factors – or the lack thereof.
Nevin (Adams) and Fred (Reish) examine the issue(s) and implications.
While the Biden Administration’s final rule on ESG
investments (more properly “prudence and loyalty in selecting plan investments”) seems to have landed pretty much where the Trump Administration’s final rule on ESG investments did (save for the reliance on the term “pecuniary”), the issue remains polarizing (almost as though people hadn’t actually read the final regulation), triggering a number of suits involving retirement plans – most recently one brought by an American Airlines pilot-participant regarding investment options in that plan’s 401(k). However, American Airlines has moved to dismiss that suit – on interesting grounds. Come check it out!
28 min
August 02, 2023 Season 3, Episode 9 - Reenrollment: If At First You Don't "Succeed"
There’s an old practice getting some new attention these days – “reenrollment." In this episode, Nevin and Fred take a look at the trend and its implications.
Let’s face it, just because circumstances weren’t right for joining the plan a year ago doesn’t mean they should be overlooked forever. Said another way, if at first you don’t “succeed” in enrolling them in the plan, this presents another opportunity to do so. The increase in participation rates proves the success.
28 min
July 17, 2023Season 3, Episode 8 - Hot Topics
It’s been a hot summer here – and there’s been so much going on lately that our brief recap wound up being a podcast episode unto itself.
In this episode Nevin (Adams) and Fred (Reish) discuss:
The jury trial outcome of the Yale University 403(b) excessive fee suit

New litigation – and legislation – regarding fiduciary issues with regard to healthcare

Latest updates on the BlackRock LifePath TDF suits where fiduciaries were accused of "chasing" low fees.
25 min
June 06, 2023 Season 3, Episode 7 - Managed Account-Ability
According to Cerulli’s “U.S. Managed Accounts 2022: The Future of
Personalized Portfolios,” assets in managed-accounts programs grew
nearly 24% in 2021, reaching a high of $10.7 trillion.
In this episode Nevin (Adams) & Fred (Reish) take a look at
the trends, the issues, and the considerations underlying managed
accounts.
Certainly these structures have proliferated in recent years, doubtless
driven in no small part by the development/adoption of these solutions
by advisory firms, though many advisors continue to see these as little
more than “expensive target-date funds.”
30 min
May 16, 2023 Season 3, Episode 6 - An "Obstacles" Course in Retirement Income
There’s little argument that retirement income solutions are a need –
but no real consensus that providing it is, or should be, a plan
sponsor’s responsibility. Nevin & Fred discuss what's (still)
standing in the way...

40 min
April 25, 2023 Season 3, Episode 5: Nevin & Fred Live and In Person – Part 2
On April 3, the Nevin & Fred podcast went on the road to San Diego
for a live appearance in front of a standing room only crowd at the NAPA
401(k) Summit.
27 min
April 17, 2023Season 3, Episode 4: Nevin & Fred Live and In Person – Part 1
On April 3, the Nevin & Fred podcast went on the road to San Diego
for a live appearance in front of a standing room only crowd at the NAPA
401(k) Summit.

Along with their alliterative illustrations, Nevin (not Neville — Adams) & Fred (Reish) covered:
Their favorite provisions of SECURE 2.0 — why — and how it matters to you (and the coverage gap).

Why 2024 is just four months away.

The implications of when a plan is “established.”

The (potential) impact of the last SECURE 2.0 provision to take effect — and why you should be nice to your recordkeeper partners.

A new industry acronym!
Episode Resources:
The What's and When's of SECURE 2.0:  https://www.napa-net.org/news-info/daily-news/what%E2%80%99s-and-when%E2%80%99s-secure-20
SECURE 2.0  https://www.napa-net.org/secure-20
The Most Impactful Provisions:  https://fredreish.com/category/secure-2-0/
27 min
March 27, 2023 A Changing Recordkeeper Checklist
There are few things more disruptive to the peace or clarity of a 401(k) plan than a switch in recordkeepers.
But—whether for good or ill—a change in recordkeepers is one of
those “choices” that plan fiduciaries are expected under ERISA to
evaluate as a prudent expert.
In this episode, Nevin & Fred cover the key factors.
25 min
March 07, 2023 “Plausible” Denials – New Twists & Turns in ERISA Litigation
Over the past several months –following the United States Supreme Court’s decision in Hughes v. Northwestern University – a number of cases, notably the Oshkosh case—and those of CommonSpirit and TriHealth—have brought with them what appears to be a higher standard of “plausibility” in asserting claims that can get past the standard motion to dismiss.
In this episode Nevin & Fred take a look at the new litigation landscape for ERISA plans, as well as providing updates on a series of suits involving the BlackRock LifePath target-date funds, as well as a surprising decision regarding rollovers and the fiduciary rule – and a flurry of legislation regarding the Labor Department’s Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights” – a.k.a. the so-called ”ESG rule.”
Oshkosh Lays Down a New Standard
Gosh! Oshkosh Wins Dismissal of Excessive Fee Suit https://www.napa-net.org/news-info/daily-news/gosh-oshkosh-wins-dismissal-excessive-fee-suit
BlackRock TDFs
Another BlackRock TDF Suit Dismissed https://www.napa-net.org/news-info/daily-news/another-blackrock-tdf-suit-dismissed
Rollover Rule(s)
Court Rolls Back Rollover Rule in 401(k) Fiduciary FAQ Fight https://www.napa-net.org/news-info/daily-news/court-rolls-back-rollover-rule-401k-fiduciary-faq-fight
ESG
Excerpts from ARA CEO Brian Graff’s interview with EBSA’s Tim Hauser. https://www.napa-net.org/search/site/hauser
Participants Challenge ESG Rule in Different Venue https://www.napa-net.org/news-info/daily-news/participants-challenge-esg-rule-different-venue
33 min