Nevin's Data "Points"

It is something of a tradition this time of year to look back, to reminisce about past events and lessons learned, and sometimes to look ahead – and who am I to buck that trend? Here’s a look back – and some “things” that I hope will help lay the groundwork for a productive and prosperous 2019 for both you, and those you serve. 5 Things of Which Plan Fiduciaries Need to Be Aware Whoever said ignorance was bliss surely wasn’t talking about fiduciary litigation. 5 Key Industry Trends You May Have Missed Here are five key trends highlighted in the Plan Sponsor Council of America’s 60 th Annual Survey of Profit-Sharing and 401(k) Plans that you may have missed. 7 Reasons Retirement Income Solutions Stall A recent report suggests that participants are “clueless” about decumulation. And who can blame them? 6 Things Those Who Don’t Get the Saver’s Credit Don’t ‘Get’ About the Saver’s Credit  Here are six things that people who don’t get the Saver’s Credit – and so...

A few years back – when my kids were still “kids” – and believed in the reality of Santa Claus – we stumbled across an ingenious website. This was a website that purported to offer a real-time assessment of one’s “naughty or nice” status. Now, as Christmas approached, it was not uncommon for us as parents to caution our occasionally misbehaving brood that they had best be attentive to how their actions might be viewed by the big guy at the North Pole. But nothing we ever did or said had the impact of that website – if not on their behaviors (they were kids, after all), then certainly on the level of their concern about the consequences. In fact, in one of his final years as a “believer,” my son (who, it must be acknowledged, had been particularly  naughty that year) was on the verge of tears, distraught that he’d find nothing under the Christmas tree that year but the lump of coal and bundle of switches he surely “deserved.” Naughty Behaviors? When one cons...

For all the buzz around financial wellness, a new survey suggests there is a long way to go. These days there’s not much argument against the premise behind pursuing financial wellness. The notion is that bad financial health contributes to (and/or causes) a bevy of workplace woes: stress, which can lead to things like lower productivity; bad health and higher absenteeism; and even a greater inclination toward workplace theft, not to mention deferred retirements by workers who tend to be higher paid and have higher health care costs. But if there is little argument that financial wellness is a worthwhile goal for workers – and one worth supporting by employers – the recent Financial Wellbeing Employer Survey from the Employee Benefit Research Institute (EBRI) suggests that we have a ways to go. Here are some key takeaways from that survey of 250 employers: 1. HR is leading the charge. The most commonly cited primary champion for financial wellness was Human R...

What are you waiting for? So, have you registered for the NAPA 401(k) Summit? Hundreds already have. What about you? I know it’s still a ways off (though April will be here before you know it). Maybe you’re waiting till after the holidays (it won’t be any cheaper). Maybe you don’t care about the convenience of being at the host hotel? Or maybe you’re just one of those who winds up putting things off till the very last minute (I feel your “pain”). One thing I’m sure of – if you’re serious about working with retirement plans – it’s only a matter of time until you do…or risk spending the rest of the year hearing from those who did about the amazing event you missed. So why should you commit NOW to the NAPA 401(k) Summit? First off, by now you know that this is the only retirement plan advisor conference developed by plan advisors for plan advisors. The proof of that is, quite literally, in the program that has been developed – for you. This year, as in years past, t...

Last week, Senate Democrats unveiled a bill that would, among other things, enhance the Saver’s Credit – a provision which retains bipartisan support, even as the take-up rate disappoints. Here are six things that people who don’t get the Saver’s Credit often don’t “get.” The Saver’s Credit is, of course, a tax credit from the federal government for low- to moderate-income workers who are saving for retirement. For those who qualify, 1 in addition to the customary benefits of workplace retirement savings, the amount of the credit is 50%, 20% or 10% of retirement plan (or IRA or ABLE account) contributions depending on adjusted gross income. Credit ‘Limits’? And yet, some of the things that seem to be holding back the take-up rates could surely be addressed with a legislative “fix” – and here we’re talking about the relatively low income thresholds to which it applies, the fact that while it’s a credit, it’s not a refundable credit (and thus you have to have a fe...