Shows
Nevin & FredSeason 5, Episode 11: Things Plan Sponsors Should Be Thankful ForPlan 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 planning in the midst of an array of other pressing concerns. That said, there have been any number of innovations andevolutions over the year...
2025-11-2236 minNevin & FredSeason 5, Episode 10: Things That Should Scare Plan FiduciariesAs 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 alike. But there are some things that may sneak up on even the most attentivefiduciary – things like:Your target-date fund glidepath(s) – Is it “to”retirement or “through” retirement, is it appropriate for your particip...
2025-10-2332 minNevin & FredSeason 5, Episode 9: Catching Up on Catch-UpsOn 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 Roth for individuals making $145,000 or more (adjusted for inflation), effective in January. A recent Plan Sponsor Council of America survey found thatfewer than 5% of plan sponsors said they were “ready to go” with these changes, while more than 4 in 10 were “str...
2025-09-1832 minNevin & FredSeason 5, Episode 8: What’s the Alternative(s)?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’s duties regardingalternative 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, including 401(k)s and 403(b)s.The EO states as “the policy of the United States t...
2025-08-1524 min
Be More Than A FiduciaryNevin Adams: Default Income Solutions - Yea or Nay?Now “retired” (whatever that means), Nevin is the former Chief Content Officer and Head of Retirement Research for the American Retirement Association. One of the retirement industry’s most prolific writers, these days he’s “retired”, which means he writes less, but continues to keep his eye on developments in, and threats to, the nation’s private retirement system. He’s the Chief Advisor Strategist at Endeavor Retirement, and he’s also the “Nevin” in the Nevin & Fred podcast (along with renowned ERISA attorney Fred Reish), offering irreverent, but relevant perspectives on the critical issues confronting plan sponsors, advisors, and retirement industr...
2025-08-0631 minNevin & FredSeason 5, Episode 7: Has the Forfeiture Tide Turned?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 in a way, that suggests at least some federal courts are now inclined to see practices long sanctioned by practice (and the IRS) as meritless.The real game changer, of course, might be the Lab...
2025-07-2136 minNevin & FredSeason 5, Episode 6: Dispelling Retirement Plan MisperceptionsSome 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 requirements,cheap investment picks,CIT assumptions,PEP perceptions,recordkeeper reliance, andthe limits of advisor accountability. And that’s not all! See how their list matches yours.Episode ResourcesOnline Securi...
2025-06-1633 minNevin & FredSeason 5, Episode 5: – (Still) Live from Las Vegas – Part 2Nevin (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, but “good” law)?- A rare jury trial—and a BIG settlement. Why they’re rare (but may become more common). Oh, and it involved a multiple employer plan (MEP). - Fred clarifies his prediction on PEPs (but he’s still a fan).
2025-06-0227 minNevin & FredSeason 5, Episode 4: Nevin & Fred - Live from Las VegasNevin (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 to the United States Supreme Court (bad policy, but "good" law)? A rare jury trial—and a BIG settlement. Why they’re rare (but may become more common). Oh, and it involved a multiple employer plan (MEP).Fred...
2025-05-1425 minNevin & FredSeason 5, Episode 3: Pondering Participant Data Protocols & PRTAs 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 company. The process itself is a fiduciary decision requiring carefulconsideration of the entity to which those obligations are transferred—and therein lies the basis of a recent spate of litigation regarding those choices (and during a period of time in...
2025-03-1727 minNevin & FredSeason 5, Episode 2: Some New Twists on Forfeiture Reallocation LitigationA “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 litigation to date (nearly $8 billion). The plan document language prohibited use of forfeitures to offset employer contributions before offsetting administrative expenses (at least according to the suit).And then there is a case that has been thro...
2025-02-1830 minNevin & FredSeason 5, Episode 1: Can Duties of Prudence and Loyalty Diverge?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 Committee, Fidelity Investments Institutional, and Financial Engines Advisors, LLC (he subsequently dropped the latter two).
The suit alleged that they “breached their fiduciary duties
in violation of ERISA by investing millions of dollars of American Airlines employees’ retirement savings...
2025-01-2230 minNevin & FredSeason 4, Episode 14: A Fiduciary Naughty and Nice ListIt’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 happens if you forget? What happens if the business is
below the threshold—and then goes above it—and then slips below it? And there’s something “special” about the
selection of...
2024-12-0430 minNevin & FredSeason 4, Episode 13: Nevin & Fred “Live” at ASPPA AnnualOn 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 compelling topics like:
Latest Lessons from the Litigation Landscape – fending off fiduciary forfeiture suits
Fiduciary Faux Pas, Pitfalls and Best Practices
Scary stuff from SECURE 2.0 – implications of
auto-enrollment for all plans, LTPT employee tracking, etc.
2024-10-3035 min
Retiring Minds - Their Next Chapter(s)Season 1, Episode 3: Nevin E. Adams, JDNow “retired” (whatever that means), Nevin is the former
Chief Content Officer and Head of Retirement Research for the American Retirement Association. One of the retirement industry’s most prolific writers, these days he’s “retired,” which means he writes less, but continues to keep his eye on developments in, and threats to, the nation’s private retirement system.
He’s the “Nevin” in the Nevin & Fred podcast (along with
renowned ERISA attorney Fred Reish), offering irreverent but relevant perspectives on the critical issues confronting plan sponsors, advisors, and retirement industry professionals.
He’s also the co-host of THIS new p...
2024-09-2727 minNevin & FredSeason 4, Episode 10: The Demise of DeferenceWith 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 the process, less certainty for advisors, plan sponsors and recordkeepers trying to operate within those boundaries.
Why It Matters
Since 1984, courts have adopted a review framework for
challenged regulations. First, to consider wh...
2024-07-3030 min
Advisor RevelationsHow the Department of Labor’s New Fiduciary Rule Impacts InsurersIn this episode of Advisor Revelations, David Lau talks with Fred Reish, Partner and Chair of the Fiduciary Services ERISA Team at Faegre Drinker Biddle & Reath, about the Department of Labor's new fiduciary rule. They discuss the regulation's origins, goals, and potential impact on the insurance industry. Fred also provides insight into how insurance professionals and financial advisors can navigate the evolving regulatory landscape of retirement planning. Learn more at https://www.dplfp.com/series/advisor-revelations-podcast.
2024-07-3033 minNevin & FredSeason 4, Episode 9: SECURE 2.0 Choices and Savings TrendsThe 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 than 2,000 clients to participate in a survey, and from that derived the top-five-ranked optional provisions. In this episode, Nevin (Adams) and Fred (Reish) talk about
those options—and THEIR favorites.
In thi...
2024-07-0935 min
401(k) Specialist PodcastJerry Schlichter Preps Advisors for Fiduciary Rule ChangesThe DOL’s new fiduciary rule is scheduled to become effective in September, and retirement plan advisors and plan sponsors have plenty to do to prepare for the changes it will bring.Jerry Schlichter, founding and managing partner of Schlichter Bogard LLC and a well-known pioneer of retirement plan excessive fee litigation, visits the 401(k) Specialist Pod(k)ast to share some important insights on the upcoming changes, legal challenges and what advisors need to be doing to prepare for compliance.SEE ALSO:• Fred Reish Unpacks the DOL’s New Fiduciary Rule
2024-06-1016 minNevin & FredSeason 4, Episode 7: The Fiduciary Rule—Here We Go AgainIn late April the Department of Labor (DOL) released the Retirement Security Rule, generally referred to as the “fiduciary rule.” Nevin (Adams) and Fred (Reish) take a look at what’s changed —what hasn’t—and what it all means for retirement plan advisors.
This now-final rule updates and broadens the definition of an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC). In this new podcast episode, the
prolific podcasting pair ponder:
The impact(s) to retirement plan advisors who are already ERISA fiduciaries, and compliant with PTE 2020-0...
2024-05-2929 min
401(k) Specialist PodcastFred Reish Unpacks the DOL’s New Fiduciary RuleThe Department of Labor released its final “Retirement Security Rule” recently, which aims to raise the legal bar for financial advisors, brokers, insurance agents and others who give retirement investment advice.Noted ERISA attorney Fred Reish Esquire, Partner at Faegre Drinker, shares his thoughts on some of the rule’s key focuses and changes, along with implementation questions and potential hurdles to the rule becoming effective in September.Key Insights:Clarification of "Retirement Investment Advice": The updated Retirement Security Rule defines advice that is fiduciary in nature, emphasizing that even one-ti...
2024-05-1317 min
The Securities Compliance Podcast: Compliance In ContextS5:E3 | Breaking Down The “New” DOL Fiduciary Rule – Lessons From The Front Lines | Compliance In ContextWelcome back to the Compliance In Context podcast! On today’s show, we feature a Lessons From The Front Lines episode with renowned retirement plan fiduciary expert, Mr. Fred Reish, to help us through another groundbreaking DOL Fiduciary Rule and unpacking where and how it will affect investment adviser and broker-dealer firms across the country. This is an episode you won’t want to miss!
Show
Interview with Fred Reish
Reviewing the evolving standards of care (Reg BI, RIA, DOL, NAIC)
How have disclosures evolved to comply with the differentiated standards of care...
2024-05-0753 minNevin & FredSeason 4, Episode 6: Live from Music City - Part 2On April 7, 2024, Nevin (Adams) & Fred (Reish) took their popular podcasting platform on the road to Nashville,
Tennessee, for a live version at the NAPA 401(k) Summit—in the middle of a solar eclipse!
In the second part of an expanded session, the prolific podcasting pair pointed to some takeaways from recent litigation trends including:
The importance of fiduciary training New Fiduciary Suits, TDF Demographics and a Prudent Process Primer |
National Association of Plan Advisors (napa-net.org)
The meaning of “meaningful benchmarks” Lack of ‘Meaningful Benchmark’ Bounces (Another) 401(k) Excessive Fee Suit | National Association of Plan Advis...
2024-05-0321 minNevin & FredSeason 4, Episode 5: Live from Music CityOn April 7, 2024, Nevin (Adams) & Fred (Reish) took their popular podcasting platform on the road to Nashville, Tennessee, for a live version at the NAPA 401(k) Summit—in the middle of a solar eclipse!
During an expanded session, the prolific podcasting pair pointed to some takeaways from recent litigation trends including:
Why it’s important to know/read your plan document
(forfeiture reallocation suits);
Why you may not need an investment policy statement (but should have an investment policy and an engaged committee);
How participant demographics could (should?) influence your target-date fund selection.
2024-05-0130 minNevin & FredSeason 4, Episode 4: Could a Predominant PEPs Prediction Prove Positive?In a recent article on NAPA-Net, Fred Reish opined that PEPs—pooled employer plans—would come to dominate new plan adoption in the next five to 10 years. In this episode, Nevin (Adams) and Fred explore that possibility.
To make his case, Fred posed a counter-intuitive
argument, supposing that if we had started with a PEP architecture—one in which
most of the liability (and decisions and administrative work) was left to others—and holding forth an opinion that if we HAD started there, would plan sponsors have ever wanted to take on that “extra” work and liability.
Well, r...
2024-04-0329 minNevin & FredSeason 4, Episode 3: More Proof Prudence Prevails in 401(k) LitigationSome recent suits – and federal court rulings – provide some timely reminders about the importance of a prudent process and following the plan document.
In this podcast episode, Nevin (Adams) & Fred (Reish) discuss the background, issues, and implications behind:
(1) Suits regarding reallocation of forfeitures - offsetting employer contributions: 401(k) Forfeiture Fiduciary Breach Suit Now Targets Tetra Tech | National Association
of Plan Advisors (napa-net.org)
(2) The importance of following the plan document: DOL Successfully Sues Employer for Misuse of Forfeitures | National Association of Plan Advisors (napa-net.org)
(3) Fiduciary defendants prevail in two separate (and ver...
2024-03-0532 minNevin & FredSeason 4, Episode 1: Forfeit “Sures?”Late last year a Pasadena, California, law firm launched a
series of suits alleging that the use of forfeitures to offset employer contributions was a fiduciary breach. Nevin (Adams) and Fred (Reish) look at the issue(s) this raises.
“If this is the law, then that would be news to Congress
and the regulatory agencies, which have declared for decades that forfeitures can be used in this manner,” says a recent motion to dismiss a lawsuit alleging a fiduciary breach in offsetting employer contributions with forfeitures.
The motion to dismiss speaks to charges made in a suit...
2024-01-0929 minNevin & FredSeason 3, Episode 15: A New Fiduciary ProposalOn October 31, the Biden Administration rolled out its long-anticipated update to the fiduciary rule. While
it’s got a new name (the Retirement Security Rule), it builds on and extends the Labor Department’s reach by both focusing on the needs and perceptions of the retirement investor and eliminating the “regular basis” aspect of the so-called five-part test that has long
been an integral component of what was considered to define an ERISA fiduciary.
In the latest episode Nevin (Adams) and Fred (Reish) consider the historical framework of the ERISA fiduciary definition, how the proposed rule would alter that...
2023-11-2624 minNevin & FredSeason 3, Episode 12: DOL Makes Another Fiduciary ForayLate one recent Friday afternoon, the Department of Labor
dropped off a package that would redefine fiduciary investment advice under the Employee Retirement Income Security Act (ERISA). In this episode Nevin (Adams) and Fred
(Reish) explore the possibilities – the history and potential future – of this initiative.
Known officially as “Conflict of Interest in Investment
Advice,” according to a post on the Office of Management and Budget’s website, “this rulemaking would amend the regulatory definition of the term fiduciary...to more appropriately define when persons who render investment advice for a fee to employee benefit plans and IRAs are fidu...
2023-09-1931 minNevin & FredSeason 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 fun...
2023-09-1336 minNevin & FredSeason 3, Episode 10: Suits Strike Polarizing Positions on ESGAmidst 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 retirem...
2023-08-3027 min
401(k) Specialist PodcastFred ReishFred Reish’s DOL Fiduciary Rule UpdateThe retirement industry will be keeping a close eye on the Department of Labor in August in anticipation of proposed regulation regarding its fiduciary rule, and whether or not a retirement plan-to-IRA rollover recommendation made by an advisor who is a fiduciary to a plan or participant constitutes a fiduciary act, necessitating the use of Prohibited Transaction Exemption 2020-02.To help us sort out what’s going on with the DOL’s fiduciary rule, we can think of no better source than noted ERISA expert and Faegre...
2023-07-2617 minNevin & FredSeason 3, Episode 8 - Hot TopicsIt’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.
2023-07-1724 minNevin & FredSeason 3, Episode 7 - Managed Account-AbilityAccording 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.”
2023-06-0629 min
Oyster Stew - A Broth of Financial Services Commentary and InsightsUnpacking DOL PTE 2020-02In today’s podcast, DOL PTE 2020-02 experts Fred Reish, David Porteous and Joan Neri from the law firm of Faegre Drinker Biddle & Reath will be discussing the current state of the industry’s implementation, how different firms are approaching the requirements, self-correction, and what they see as the DOL’s approach. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to our monthly newsletter. Does your firm need help now? Contact us today!
2023-05-0423 min
Oyster Stew - A Broth of Financial Services Commentary and InsightsDOL PTE 2020-02 - What Comes NextIn February, a US District Court judge challenged the DOL’s FAQs around the fiduciary investment advice definition to rollover recommendations. In today's episode, Part 2 of 2 discussing DOL PTE 2020-02, experts Fred Reish, David Porteous and Joan Neri from the law firm of Faegre Drinker Biddle & Reath join Oyster's Ed Wegener will be discussing this case and other legal challenges, and the impacts these will have, if any. Oyster Consulting has the expertise, experience and licensed professionals you need, all under one roof. Follow us on LinkedIn to take advantage of our industry insights or subscribe to o...
2023-05-0429 minNevin & FredSeason 3, Episode 4: Nevin & Fred Live and In Person – Part 1On 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...
2023-04-1726 minNevin & FredUnfinished Business for SECURE 2.0?The SECURE 2.0 Act of 2022 was signed into law in the waning days of 2022. But there are some things that need fixing – and some things you may have overlooked. Nevin (Adams) and Fred (Reish) highlight five key areas calling for attention.
The short list of things covered in this episode:
Deleted legislative text that could undermine catch-up contributions
A typo(?) that could impact required minimum distribution (RMD) timing.
Required vesting on employee elected Roth treatment of employer contributions
Mandatory automatic enrollment on new plans – but not till 2025 – and with (potentially) rolling effective dates after that
Episode Resource...
2023-01-3129 minNevin & FredEven More SECURE...In the waning days of 2022, President Biden signed into law legislation that had moved through the House and the Senate on a strong bipartisan basis that greatly expands retirement savings opportunities for working Americans.
In this episode Nevin (Adams) & Fred (Reish) unpack some of the major provisions, and their implications for retirement.
Episode Resources
SECURE 2.0 Resource Page
As a top priority of the American Retirement Association, the SECURE 2.0 Act of 2022 was signed into law by President Biden on Dec. 29, 2022. The legislation, which was included in Division T of the Consolidated Appropriations Act, 2023 (H.R...
2023-01-0331 minNevin & Fred5 Dangerous Fiduciary AssumptionsThere’s an old saying that when you assume… well, that applies double (and then some) to ERISA plan fiduciaries. In this episode, Nevin (Adams) and Fred (Reish) discuss five – with reminders about how to avoid winding up in trouble.
Episode Resources
https://www.napa-net.org/news-info/daily-news/5-dangerous-fiduciary-assumptions
https://www.napa-net.org/news-info/daily-news/5-things-your-plan-committee-members-need-know
https://www.napa-net.org/news-info/daily-news/5-plan-committee-missteps
2022-09-2129 minNevin & FredPTE 2020-02: What to do When You Didn’t do What You Were Supposed to Do.With the written best interest documentation requirement now in place (as of July 1), and with some evidence that some advisors might not have focused on that deadline (or a series of others that took effect in February), in this episode Nevin (Adams) & Fred (Reish) look at some new ways to “fix” non-compliance issues.
Episode Resources
Best Interest Standard of Care for Advisors #93: Correction of Failures to Satisfy PTE 2020-02 https://fredreish.com/best-interest-standard-of-care-for-advisors-93/
IRS Pilots Pre-examination Retirement Plan Compliance Program https://www.asppa-net.org/news/irs-pilots-pre-examination-retirement-plan-compliance-program
Morningstar Urges DOL to Revisit TDF Gu...
2022-07-2634 min
Nevin & FredEARN, RISE & SHINE, Auto-Portability & the Way(s) ForwardThere’s a lot going on in Washington – big movements in the Senate and in the House – and bipartisan. So, what’s in those bills? Nevin (Adams) and Fred (Reish) take a look.
Episode Resources
The Path(s) of Least Resistance https://www.napa-net.org/news-info/daily-news/paths-least-resistance
Bipartisan Bill Backs Auto-Portability https://www.napa-net.org/news-info/daily-news/bipartisan-bill-backs-auto-portability
It’s Unanimous! EARN Passed by Senate Committee 28-0 https://www.napa-net.org/news-info/daily-news/its-unanimous-earn-passed-senate-committee-28-0
Senate HELP Committee Approves RISE & SHINE Act https://www.napa-net.org/news-info/daily-news/senate-help-comm...
2022-07-0528 min
The Fiduciary U™ PodcastEp #37: Wrestling with Rollovers and Other Regulatory Trends With Fred ReishOn today’s episode the one and only Fred Reish joins me to discuss emerging regulatory trends affecting advisory firms and advisors. Fun fact - Fred is the first repeat guest on the show.During our conversation, we focus much of our discussion on the new fiduciary advice exemption, PTE 2020-02 which became effective on February 16, 2021. The new prohibited transaction rules cast a wide net, impacting both qualified plans and IRAs and the compliance requirements are significant. Fred shares his concerns about the confusion he is seeing with regard to the effective compliance dates, th...
2022-06-201h 04
The Hire thru Retire PodcastForecasting the 401(k) with Nevin Adams & Fred ReishIn this episode, Bill and Heather are joined by two “legends” in the retirement industry, Fred Reish, partner at Faegre Drinker Biddle & Reath LLP, and Nevin Adams, chief content officer for the American Retirement Association. With extensive knowledge and insight on the industry, Fred and Nevin share their thoughts on the concept of “forecasting the 401(k)” – tackling all topics from legislation to lifetime income. With many changes in the industry over the past several years there is certainly lots to discuss when it comes to both trends and guidance for employers. Tune in to hear more from Fred and Nevin them...
2022-04-0537 min
Retireholics - 401k Plan Industry Show for AdvisorsNevin & Fred have a podcast!Fred Reish and Nevin Adams talk to us a bit about their podcast (which is great by the way). We also discuss the breaking news in the 401k retirement plan space.
2021-10-081h 00
Revamping RetirementInside the IndustryIn a special edition of Revamping Retirement, Jennifer Doss hosts live from the National Association of Plan Advisors (NAPA) 401(k) Summit in Las Vegas, alongside Phyllis Klein, senior director of Retirement Plan Services at CAPTRUST. Joining our hosts are two of the industry's most prominent ERISA attorneys: Fred Reish, partner in the Benefits & Executive Compensation practice group, the Investment Management group, and the Financial Services ERISA Team at Faegre Drinker; and David Levine, principal and co-chair of the Plan Sponsor Practice at Groom Law Group. Following our panel's robust conversation around current plan sponsor concerns...
2021-09-2730 minNevin & FredEpisode 5 - Limiting Fiduciary LiabilityYour plan might be an excessive fee litigation target if...join Nevin Adams and Fred Reish for the latest installment of Nevin & Fred.
Nevin & Fred discuss the recent Aon survey on "what drives fiduciary liability", and give you their perspectives on the key takeaways.
Episode Resources
Aon: What Drives Fiduciary Liability: https://insights-north-america.aon.com/investment/aon-what-drives-fiduciary-liability-whitepaper
Your Plan Might be an Excessive Fee Litigation Target if...: https://www.napa-net.org/news-info/daily-news/your-plan-might-be-excessive-fee-litigation-target-if%E2%80%A6
Limiting Fiduciary Liability (Costs): https://www.napa-net.org/news-info/daily-news/limiting-fiduciary-liability-costs
2021-08-2333 minNevin & FredEpisode 2 - Scrutinizing SECURE 2.0Building on a wide-ranging series of retirement plan design enhancements introduced by the Setting Every Community Up For Retirement Enhancement (SECURE) Act of 2019 (hence, SECURE 2.0), Chairman of the House Ways & Means Committee Richie Neal (D-Ma) and Ranking Member Kevin Brady (R-TX) have now introduced a sequel of sorts. Dubbed "SECURE 2.0", the Securing a Strong Retirement Act of 2021 has been introduced and passed the U.S. House Ways & Means Committee, and is now headed for consideration by the full U.S. House of Representatives. Nevin Adams and Fred Reish take a look at five key provisions, their implications for retirement...
2021-05-2131 min
Nevin & FredEpisode 1 - Unpacking the Fiduciary RuleJoin Nevin Adams & Fred Reish for the inaugural episode of "Nevin & Fred: Fresh & Best Perspectives."
Technically, it’s not a “rule”—but after years of debate, hearings, comments, litigation and preparation, there are some new rules regarding investment advice—and some help for retirement plan advisors. Nevin Adams and Fred Reish take a look at the implications. And have some fun doing it.
Episode Resources:
DOL PTE 2020-02: https://www.govinfo.gov/content/pkg/FR-2020-12-18/pdf/2020-27825.pdf
The DOL’s Prohibited Transaction Exemption 2020-02 provide relief from prohibited compensation resulting from...
2021-04-2028 min
401(k) Specialist PodcastFred ReishFred gets frank about fiduciary.It’s a new year, a new Congress, and a new direction with so many of the issues that affect the 401(k) and retirement plan space. This week, we turn to the one and only Fred Reish, one of the country’s top ERISA experts with legal powerhouse Faegre Drinker Biddle & Reath, for a discussion of fiduciary, ESG investing, Reg BI, and committee meetings in a time of COVID.He also explains the “one thing” about which he’s 100% sure.
2021-02-0815 min
The Fiduciary U™ PodcastEp #4: Regulation and Legislation and Litigation (Oh My!) with Fred ReishFred Reish is a partner in Faegre Drinker’s Fiduciary Services ERISA team, where he focuses on fiduciary issues, prohibited transactions, tax qualification, and retirement income. On today's episode, Fred and I discuss recent regulatory developments like Regulation BI and the proposed DOL fiduciary advice rule that was announced at the end of June, and how these things impact plan sponsors and the industry in general, especially when it comes to rollovers. We talk about the SECURE Act and specifically the guidance around guaranteed income and multiple employer plans and pooled employer plans also known as MEPs and PEPs. We...
2020-09-211h 172020-08-1446 min
Human Capital with Melanie WaddellHuman Capital: ERISA Expert Fred Reish on Market Volatility, Stimulus PlanIn episode No. 12 of ThinkAdvisor’s Human Capital podcast, we talk with popular ERISA attorney Fred Reish of Faegre Drinker Biddle & Reath about the legal requirements and best practices that plan fiduciaries and advisors should be adhering to during the market volatility. Reish also details provisions on enhanced participant loans, special Coronavirus distributions and RMDs under the recently passed stimulus bill, Coronavirus Aid, Relief and Economic Security (CARES) Act.
2020-04-0320 min
401(k) RoundtableAftermath of the DOL Fiduciary Rule: Fred Reish Discusses the Role of the SEC, Best Interest & the StatesWe last spoke with my guest Fred Reish, ERISA Attorney and Partner at Drinker Biddle in the immediate aftermath of the demise of the DOL Fiduciary Rule. Today, we catch-up on what has happened since and what implications they have for employers, their employees and retirement service providers. Without stealing too much of Fred's thunder, we start with why this conversation and regulations exists, what has changed in concept and with new and newish players entering the fray like the SEC and several states. We also put a finer point to some concepts that sound the same but have dif...
2019-09-201h 02401(k) RoundtableAftermath of the DOL Fiduciary Rule: Fred Reish Discusses the Role of the SEC, Best Interest & the StatesWe last spoke with my guest Fred Reish, ERISA Attorney and Partner at Drinker Biddle in the immediate aftermath of the demise of the DOL Fiduciary Rule. Today, we catch-up on what has happened since and what implications they have for employers, their employees and retirement service providers. Without stealing too much of Fred's thunder, we start with why this conversation and regulations exists, what has changed in concept and with new and newish players entering the fray like the SEC and several states. We also put a finer point to some concepts that sound the same but have dif...
2019-09-201h 02
The American Dream Experience401(k) plans and Retirement. Being Financially Secure Enough to Live Out Your DreamMargaret and Jim are back for another episode! Today they’re talking about 401(k) plans, and by extension, retirement. In order to achieve your American Dream, you need to be financially secure enough to live out your dream.
Margaret stresses the importance of knowing what types of retirement plans your company offers, the different variations of retirement plans, what fiduciary responsibility really means, why retirement happens at different ages for different people, words of wisdom from Fred Reish, protecting employee best interest, and how portfolio diversity and 401(k) plans will free you up to live your own American Dream.
In This...
2019-06-1700 min401(k) RoundtableThe Fiduciary Rule Wipeout: Fred Reish Shares What Happens & What's NextThe DOL Fiduciary Rule died, or did it? Maybe its coming back to life in another form, through another government agency or even the states will take a crack at it. What should employers know? How will this impact employees? In this timely and action packed episode I am excited to have Fred Reish, ERISA Attorney extraordinaire with Drinker Biddle and the closest follower I know of the long and winding path of the fiduciary rule. For many, Fred requires no introduction. If you are not familiar Fred is perennially listed as one of the most influential individuals in the ret...
2018-05-111h 01401(k) RoundtableThe Fiduciary Rule Wipeout: Fred Reish Shares What Happens & What's NextThe DOL Fiduciary Rule died, or did it? Maybe its coming back to life in another form, through another government agency or even the states will take a crack at it. What should employers know? How will this impact employees? In this timely and action packed episode I am excited to have Fred Reish, ERISA Attorney extraordinaire with Drinker Biddle and the closest follower I know of the long and winding path of the fiduciary rule. For many, Fred requires no introduction. If you are not familiar Fred is perennially listed as one of the most influential individuals in the ret...
2018-05-111h 01
Strategic Investor RadioThe DOL Fiduciary Rule with Fred ReishFred Reish is a long time Compliance and ERISA attorney, typically representing employers and businesses in the world of financial regulation. Fred discusses this new "Rule" and its impact on the financial industry. Every Registered Rep or Investment Advisor should be interested in this interview and Fred's views on this highly contentious subject.
2017-05-1309 min