20 Years After the Pension Protection Act | Nevin Adams

DoubleLine relationship manager Stephen Dopp interviews Nevin Adams, chief advisor strategist at Endeavor Retirement, about a career that moved from working on retirement plans and with participants to explaining the laws and regulations behind them. Adams describes how he tracks developments — litigation trackers, government distribution lists, a recent Labor Department and Treasury update — and gives his views on the industry. He credits auto enrollment and target-date defaults with transforming participation since the Pension Protection Act, while questioning defaults into products people don't understand, one-size-fits-all retirement income answers, and the math behind Social Security.

1. Adams credits auto enrollment and target-date defaults with transforming participation twenty years after the Pension Protection Act.
2. As a retiree himself, he is wary of defaulting people into products they don't understand.
3. He says the industry keeps hunting for one-size-fits-all retirement income answers, arguing that averaging the savings of a 20-year-old and a 65-year-old produces 'mush'.
4. He notes retirement policy is one of the few areas where lawmakers still cross party lines, and says of Social Security: 'Somebody needs to rethink the math.'