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Full-Text Articles in Law
Employees, Pensions, And The New Economic Order, Jeffrey N. Gordon
Employees, Pensions, And The New Economic Order, Jeffrey N. Gordon
Faculty Scholarship
The "New Economic Order" in the United States is a regime of trade liberalization, a robust market in corporate control, and labor market flexibility. Among the consequences over the 1980-1995 period is a divergence between the growth rate of corporate profits and stocks prices, which have increased by approximately 250% in real terms, and wages, which have barely increased at all, except for the top quintile. Contrary to popular belief employees have not significantly participated through their pension funds in this stock market appreciation. In the historically dominant defined benefit pension plan, the sponsoringfirm, not the employee, is the residual …
Pension Law--Garnishment--Pension Fund Benefits Governed By The Federal Employee Retirement Income Security Act Are Subject To Court-Ordered Alimony And Child Support Payments.
Fordham Urban Law Journal
This Case Note summarizes the case American Telephone & Telegraph Co. v. Merry, 592 F.2d 118 (2d Cir. 1979). In this case the court of appeals faced problems of statutory construction and ERISA, namely whether ERISA protected pension plans from ganishment orders ordering alimony and child support be payed while waiting for an ultimate jugment as to whether they should be paid. The court of appeals affirmed the district court's holding that ERISA did not prohibit the garnishment of pension plan benefits to satisfy alimony and support payments nor did it displace the state court's authority in this area by …