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The Diversity Of Contingent Workers And The Need For Nuanced Policy, Stewart J. Schwab
The Diversity Of Contingent Workers And The Need For Nuanced Policy, Stewart J. Schwab
Stewart J Schwab
The contingent work force is rising. Policymakers and analysts must respond. These are the central themes of Dr. Belous's paper m this symposium. Twenty-five to thirty percent—his current upper- and lower-bound estimates of the size of the contingent work force—are the basic statistics underpinning his call to arms. Dr. Belous includes in the contingent work force all workers who are temporary, part-time, self-employed, or in business services. The spread comes from different methods of handling double counting. The figures update similar estimates he published in 1989 in his well-known book, The Contingent Economy. Dr. Belous has done a great service …
Predicting The Future Of Employment Law: Reflecting Or Refracting Market Forces?, Stewart J. Schwab
Predicting The Future Of Employment Law: Reflecting Or Refracting Market Forces?, Stewart J. Schwab
Stewart J Schwab
In this Article I predict how employment law will change in the future. My task is positive rather than normative. I will not argue that the developments I foresee are good ones to be applauded. Rather, they arise "inevitably" from the way the law will react to changes in labor markets. Of course, as Professor Ronald Dworkin emphasizes, in developing a theory of law one cannot sharply distinguish between the positive and normative. Dworkin points out that even in describing the current legal framework, one must choose what to highlight and what to ignore, a process based on values. When …
Pension De-Risking, Paul Secunda, Brendan Maher
Pension De-Risking, Paul Secunda, Brendan Maher
Paul M. Secunda
The United States is facing a retirement crisis, in significant part because defined benefit pension plans have been replaced by defined contribution retirement plans that, whatever their theoretical merit, have left significant numbers of workers unprepared for retirement. A troubling example of the continuing movement away from defined benefit plans is a new phenomenon euphemistically called “pension de-risking.”
Recent years have been marked by high-profile companies engaging in various actions designed to reduce the company’s exposure to pension funding risk (hence the term “pension de-risking”). Some de-risking strategies convert a federally-guaranteed pension into a more risky private annuity. Other approaches …