tag:blogger.com,1999:blog-14224910.comments2024-02-14T11:11:09.643-05:00Nevin's Data "Points"Nevin E. Adams, JDhttp://www.blogger.com/profile/07162580850277740193noreply@blogger.comBlogger52125tag:blogger.com,1999:blog-14224910.post-35893104431226347102019-05-20T11:04:58.273-04:002019-05-20T11:04:58.273-04:00Nice work Nevin, as usual. Am I being a whistleblo...Nice work Nevin, as usual. Am I being a whistleblower, or just a blowhard, when I say that fiduciaries are breaching their duty of care in their selection of target date funds because they are not thoroughly vetting? The TDF oligopoly is a smoking gun. Anonymoushttps://www.blogger.com/profile/08924903897118682233noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-39099127464336282702018-03-19T15:16:58.433-04:002018-03-19T15:16:58.433-04:00Your footnote #1 reminds me of a story from a coup...Your footnote #1 reminds me of a story from a couple of years ago (see link below). Some insurance companies who wrote annuities and life insurance on the same person stopped paying the annuity right away (when they stood to save money for doing so), but didn't look too hard to find the life insurance beneficiary (when they had an incentive not to find them). I suspect this sort of thing goes on to a lesser extent with trustees of qualified plans. <br />https://www.cbsnews.com/news/60-minutes-life-insurance-investigation-lesley-stahl/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-57399952333874166452017-05-25T16:07:27.459-04:002017-05-25T16:07:27.459-04:00Hi Nevin,
Found your blog and appreciate your work...Hi Nevin,<br />Found your blog and appreciate your work. Quick question: is the 15-20% participation rate on 401ks in general or Roth 401ks specifically? I've read that over 2/3 of Americans aren't contributing anything to a regular 401k so I'd be surprised if out of the ~33% that do, around half do Roth 401ks. Thanks!Jordanhttp://newretirement.comnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-30951180669276831362016-09-29T08:37:36.366-04:002016-09-29T08:37:36.366-04:00Thank you for sharing such great information. It i...Thank you for sharing such great information. It is informative, can you help me in finding out more detail on <a href="https://www.bajajallianzlife.com/retirement-plans/retirement-plans.jsp" title=" Retirement Plans" rel="nofollow"> Retirement Plans</a>, i am interested and would like to know more about this field and wanted to understand the basics of Best Retirement PlansAnonymoushttps://www.blogger.com/profile/12449623268412545755noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-57694749096724651332015-01-07T07:18:10.889-05:002015-01-07T07:18:10.889-05:00Really, a new year can equate to a fresh start, es...Really, a new year can equate to a fresh start, especially regarding your finances. As mentioned, it may even be time to think about retirement. Invest and get involved in many secure financial plans to guarantee yourself of benefits like home care in the time to come.Bluebirdhttp://www.bluebirdcareuppingham.co.uk/noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-32069233915282271932013-09-21T03:32:06.273-04:002013-09-21T03:32:06.273-04:00Just I found here the most important think about i...Just I found here the most important think about <b><a href="http://www.gerardassociates.co.uk/pension-drawdown-prior-5th-april-2011-known-unsecured-pension" rel="nofollow">income drawdown</a></b>, your explanation is very easy and comfortable to understand more and more about pension schemes.Anonymoushttps://www.blogger.com/profile/17791956782385791523noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-8910258477014518392013-04-25T12:06:50.959-04:002013-04-25T12:06:50.959-04:00Income drawdown permit you to draw an income direc...Income drawdown permit you to draw an income directly from your pension, although it is leaving the remainder invested. It is help the customers contracts and manage their pension affairs in a way that best suit them. Thanks for this excellent post. It will really help a lot of people.<br /><a href="http://www.best-pension-annuity.co.uk/Income_Drawdown.php" title="" rel="nofollow">Income Drawdown</a>Anonymoushttps://www.blogger.com/profile/10569984141721698587noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-66021484698142680972012-09-13T16:29:16.324-04:002012-09-13T16:29:16.324-04:00Great, had no idea this APP existed. So many Ameri...Great, had no idea this APP existed. So many Americans neglect to watch their retirement planning, in hopes that it is just happening without them lifting a finger. It is so important to be proactive. Great article...Paulhttp://selfdirectedrothira.orgnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-36774614338904739322012-09-10T01:08:07.582-04:002012-09-10T01:08:07.582-04:00These are the very basic but very important strate...These are the very basic but very important strategies. Thanks for sharing this valuable information. . <a href="http://www.globalwealthprotection.com/asset-protection-dispelling-the-myths/" rel="nofollow">asset protection</a>JhonAlbert19http://www.globalwealthprotection.com/asset-protection-dispelling-the-myths/noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-89143233614246912642012-03-04T07:45:35.949-05:002012-03-04T07:45:35.949-05:00Jack, that undertaking is already in progress, und...Jack, that undertaking is already in progress, under the auspices of our new Center for Research on Retirement Income. Stay tuned...Nevin E. Adams, JDhttps://www.blogger.com/profile/07162580850277740193noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-75345667919202756692012-02-08T20:17:32.983-05:002012-02-08T20:17:32.983-05:00So, will EBRI take a data base of 401k participant...So, will EBRI take a data base of 401k participants and conduct a survey to confirm retirement-related accumulations that are outside of the 401(k) balance? Would make for an interesting article. If you do, please share the survey instrument when you share the results.Jack Towarnickynoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-20457770797052902372011-08-09T18:33:36.645-04:002011-08-09T18:33:36.645-04:00I would add that, sadly, many of the biggest playe...I would add that, sadly, many of the biggest players in the retirement industry will continue to have significant conflicts of interest.marshall cobbhttp://www.cobb-retirement.comnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-51227505964338751782011-06-08T09:35:12.155-04:002011-06-08T09:35:12.155-04:00I enjoyed your comparison of setting up a retireme...I enjoyed your comparison of setting up a retirement plan to your sons prom experience. And your last statement is completely true - unless you are ready to hand the decisions associated with setting up a retirement plan, you shouldn't even bother setting one up.RCP Solutionshttp://www.rcp-solutions.com/noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-26564995074319388142011-05-29T08:48:19.094-04:002011-05-29T08:48:19.094-04:00Sarah, the question is analogous to me trying to t...Sarah, the question is analogous to me trying to tell you how long it would take you to move your personal residence. <br /><br />The truth is - it “depends”….on how much “stuff” you have, how much you insist on bringing with you, and where you are planning to relocate to – and, as I alluded to in this piece, when you are planning to move. <br /><br />There are providers out there who will maintain that, given lots of the right amounts of preparation, your plan could be physically moved over a weekend. What’s key is the preparation. Personally, I’d shoot for 3 months (start to finish), and count on six. You can do it in half that time if you are truly focused, and less than that if you are “motivated” enough and willing to make sacrifices in investment options, provider choice, and plan design.Nevin E. Adams, JDhttps://www.blogger.com/profile/07162580850277740193noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-1180455490277165612011-05-23T10:06:40.218-04:002011-05-23T10:06:40.218-04:00Hi Nevin-- your points are well taken. At best, ho...Hi Nevin-- your points are well taken. At best, how long would you estimate a provider change takes? That is if I'm all over it : )Sarahhttp://blockvision.comnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-4286760794592292242011-05-16T17:52:39.833-04:002011-05-16T17:52:39.833-04:00This sounds like excellent advice for another reas...This sounds like excellent advice for another reason, also: as most employers use a calander year for their Plan Year, most parties involved have a lot of year end work at that time. A mid Plan Year conversion, therefore, may allow more time on the part of each party (the Plan Sponsor, recordkeeper, administrator and others).Barnard S. Walsh, CEBShttp://www.walshinvestments.comnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-83912490980805197572010-07-26T14:14:05.435-04:002010-07-26T14:14:05.435-04:00Nevin,
This case is the best demonstration of the...Nevin,<br /><br />This case is the best demonstration of the value of having an appointed discretionary fiduciary manage the plan assets. <br /><br />Most folks I run into do not understand the difference, nor the importance of our model. If this plan were being managed by a firm like Deschutes, my firm, or one of the other 200 or so investment fiduciaries I know, that is how few we are, this would not have occurred. <br /><br />We are appointed by our clients as the discretionary ERISA 3(38) Investment Manager. Thus, we assume all the investment selection risk on behalf of the client. We become the investment committee. Not only do we not allow funds with revenue sharing, we are always seeking to minimize cost and maximize the potential for future investment income, BECAUSE WE ARE LIABLE. <br /><br />I think it is telling that neither was HFS named as a defendant and the judge placed no relevance in their advice because both the plaintiff's attorneys and the judge realize that HFS is not liable for their "advice." <br /><br />If we were the 3(38) Investment Managers for the Edison plan, and someone did decide to sue for some issue, the lawsuit would have been charged to US, not Edison nor their employees. <br /><br />Unfortunately, Edison fell victim to using folks they felt that they could rely on. However, that business model cannot guarantee fiduciary isolation for the sponsor, only ours can.Tim Woodhttp://www.deschutesadvisors.comnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-60786464816820610842010-06-07T12:27:30.124-04:002010-06-07T12:27:30.124-04:00While the hope is that the answers would be enligh...While the hope is that the answers would be enlightening, I doubt it.<br /><br />As you may know, I worked for a TPA that I left years ago that is now under criminal and civil investigation by the DOL. <br />If presented with that question about clients they lost, they would answer it the same way they answered BDO Seidman asked to pick client to review for their SAS 70. They would cherry pick the best cases for BDO Seidman, instead of their administration disasters. So with your question, they would probably tell you about Plans that left because of changes in the Company or broker issues, but not the clients that left for poor service or high fees.<br /><br />I think the question I would ask is about the administrators who would be responsible for day to day contact of clients and their experience. The better TPAs have administrators with extensive backgrounds and higher accreditations.Ary Rosenbaumhttp://www.therosenbaumlawfirm.comnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-26552422449172587432010-05-16T15:58:07.572-04:002010-05-16T15:58:07.572-04:00Nevin:
You had me at "Live Long and Prosper....Nevin:<br /><br />You had me at "Live Long and Prosper." Although, give the literal translation of the Vulcan "Dif-tor heh smusma," I would have expected you to say "Long Live and Prosper." I, too, once channeled Spock until I discovered my inner Kirk. But that's another story.<br /><br />That said, even though the connection might be lost on some, I will be posting this link on the FiduciaryNews Twitter feed tomorrow. In the meantime, I'll DM you a piece published 20 years ago. You might find it interesting.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-61758650903854272302009-10-20T04:26:20.169-04:002009-10-20T04:26:20.169-04:00I think another fair question to ask an prospectiv...I think another fair question to ask an prospective advisor is what percentage of their time do they spend working on personal client matters versus pension related service for corporate or institutional clients. As we move forward, thanks in part of the ever evolving regulatory environment and complexity in this area, plan sponsors should be less inclined to work with advisors who merely dabble in the retirement plan market. Granted, this comment is a little self-serving..., but a worthwhile consideration none the less. Dean PiccirilloDean Piccirillohttp://www.deanpiccirillo.comnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-90409132284547047172009-10-20T04:18:49.682-04:002009-10-20T04:18:49.682-04:00"Saving more... has its downsides too." ..."Saving more... has its downsides too." I can't get my arms around that one. Thanks for your response here. Dean PiccirilloDean Piccirillohttp://www.deanpiccirillo.comnoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-23062771424793148222009-10-18T14:00:43.697-04:002009-10-18T14:00:43.697-04:00I can imagine. Well, this blog doesn't have T...I can imagine. Well, this blog doesn't have Time's distribution (though it will show up on our websites next week), but I tried to faithfully present the FULL picture, not just the one I wanted to make. Thanks, as always, for your comments and insights.Nevin E. Adams, JDhttps://www.blogger.com/profile/07162580850277740193noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-12937036569658740242009-10-18T13:49:30.295-04:002009-10-18T13:49:30.295-04:00Nevin - Trying to work with the time reporter was ...Nevin - Trying to work with the time reporter was indeed a challenge, as indicated by the graphic Time created using EBRI data in the print version of the article. Item from our work were put together in a totally inaccurate manner to make a case. As the saying goes, "figure's never lie, but liar's often figure." Dallas Salisbury, EBRIDallas Salisburynoreply@blogger.comtag:blogger.com,1999:blog-14224910.post-36745651157622167002009-04-26T09:26:00.000-04:002009-04-26T09:26:00.000-04:00Excellent post Nevin. I couldn't agree more.
Andr...Excellent post Nevin. I couldn't agree more.<br />AndrewBipolarPorchhttps://www.blogger.com/profile/04075232692440617747noreply@blogger.comtag:blogger.com,1999:blog-14224910.post-70866779667004198982009-02-20T17:04:00.000-05:002009-02-20T17:04:00.000-05:00Did you see recent study from Boston Center For Re...Did you see recent study from Boston Center For Retirement Research on cost of a guaranteed rate of return? Interesting reading.Anonymousnoreply@blogger.com