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Full-Text Articles in Law
The Perils Of Self-Directed Iras, Kathryn Kennedy
The Perils Of Self-Directed Iras, Kathryn Kennedy
Marquette Benefits and Social Welfare Law Review
Individual retirement accounts were created in 1974 as tax-sheltered retirement savings for employees whose employer did not offer an employer-provided retirement vehicle. Since then, they have been used primarily as rollover vehicles, such that amounts accumulated under employer-provided retirement plans can be rolled over into an individual retirement account. This Article examines the perils involved with a rollover IRA owner decides to invest his IRA assets in non-traditional assets.
Fully Funded Pensions, Jonathan Barry Forman
Fully Funded Pensions, Jonathan Barry Forman
Marquette Law Review
At retirement, workers want to have enough income to support themselves throughout their retirement years. In that regard, financial planners often suggest that retiring workers should aim to replace 70 to 80% of their annual preretirement earnings. Social Security benefits typically replace around 35% of the typical worker’s preretirement earnings, and the purpose of this Article is to show how pensions could and should be designed to replace, say, 40% of the typical worker’s preretirement earnings throughout her retirement years. In particular, because so many public and private pension plans are underfunded, this Article focuses on how to fully fund …
Transforming Federal And State Retirement Tax Deductions To Refundable Tax Credits, Teresa Ghilarducci, Ismael Cid-Martinez
Transforming Federal And State Retirement Tax Deductions To Refundable Tax Credits, Teresa Ghilarducci, Ismael Cid-Martinez
Marquette Benefits and Social Welfare Law Review
The purpose of this Study is to calculate retirement account tax expenditures by states. States with income taxes that allow tax deferral of retirement account contributions and investment earnings lose nearly $20 billion in revenue. This Study uses a variety of data sources, including state reports from their executive agencies and known estimation techniques to calculate the amount of tax credits that a worker in each state would receive if the deferrals were converted to a refundable tax credit. The average credit under these estimation techniques and calculations would be $172.
Essay: A Positive Perspective On Regulation Of The Workplace Relationship, Dana M. Muir
Essay: A Positive Perspective On Regulation Of The Workplace Relationship, Dana M. Muir
Marquette Benefits and Social Welfare Law Review
Positive Organizational Scholarship studies how business organizations and their employees excel and thrive. It takes the opposite perspective from the traditional organizational research that examines negative deviance and how that deviance inhibits organizational performance. Like traditional organizational scholars, legal scholars (as well as lawyers, legislators, judges, and regulators) typically focus on problems. Examples abound in the field of employment law. For example, to what extent does employment discrimination still exist and how can it be eliminated? And, what constraints prevent Americans from achieving retirement security and how can those constraints be eliminated? This Essay proposes that we examine the Positive …
Table Of Contents
Marquette Benefits and Social Welfare Law Review
No abstract provided.
Naming A Trust As The Beneficiary Of A Qualified Retirement Plan Or Ira, Barbara Freedman Wand
Naming A Trust As The Beneficiary Of A Qualified Retirement Plan Or Ira, Barbara Freedman Wand
Marquette Elder's Advisor
In this column Wand explores the advantages and disadvantages of naming a trust as a retirement plan beneficiary. Reasons such as investment management, spendthrift concerns, and second marriages are discussed, as well as the possible loss of tax advantages that might occur. Particular strategies for overcoming obstacles and fulfilling a multitude of requirements are explored.
Aging In Place: Naturally Occuring Retirement Communities And Condominium Living, Ellen Hirsch De Haan
Aging In Place: Naturally Occuring Retirement Communities And Condominium Living, Ellen Hirsch De Haan
Marquette Elder's Advisor
As more and more senior citizens choose to grow older in familiar surroundings, condominium and community associations now may have to grapple with the problems encountered as members age, such as physical and mental impairment and incipient decrepitude. How association officers can (and should) deal with these situations as well as the legal issues involved is discussed at length.
Retirees Can Benefit From Roth Iras, Sara Buscher
Retirees Can Benefit From Roth Iras, Sara Buscher
Marquette Elder's Advisor
Contrary to past beliefs, Roth IRAs can benefit retirees. This article discusses retirement planning for individuals of retirement age. This article also discusses how Roth IRA conversions can optimize retirement income, strengthen estates, and reducing tax liabilities.
Marital Deduction Planning: Naming A Trust As Beneficiary Of Retirement Plan Benefits, Barbara Freedman Wand
Marital Deduction Planning: Naming A Trust As Beneficiary Of Retirement Plan Benefits, Barbara Freedman Wand
Marquette Elder's Advisor
This article discusses marital deduction planning for retirement plan assets when a trust will be named a beneficiary. The author discusses the necessity for careful planning and numerous issues that must be considered
Reconfiguring Social Security For The 21st Century, Susan A. Channick
Reconfiguring Social Security For The 21st Century, Susan A. Channick
Marquette Elder's Advisor
This article focuses on In the Matter of the Guardianship and Protective Placement of Jimmie L. v. Sauk County. The guardian in the case was appointed in one state, but the guardian desired to relocate to another state. The article also explores the use of the Uniform Enforcement of Foreign Judgments Act where issues arise in interstate guardianship.
Advising Clients Regarding Lifetime Distributions From Qualified Retirement Plans, Barbara Freedman Wand
Advising Clients Regarding Lifetime Distributions From Qualified Retirement Plans, Barbara Freedman Wand
Marquette Elder's Advisor
This column reviews various requirements of qualified retirement plans, their myriad rules and requirements, and how uninformed decision-making can negatively impact a client's overall program. Wand's column is intended to aid an attorney in advising clients as to the appropriate choices.
Elderlaw: The Top Ten Social Security Questions, Andy Landis
Elderlaw: The Top Ten Social Security Questions, Andy Landis
Marquette Elder's Advisor
No abstract provided.
A Win/Win Scenario For The Senior Key Employee And The Closely Held Business Owner: Nonqualified Deferred Compensation, Grace C. Wellwerts
A Win/Win Scenario For The Senior Key Employee And The Closely Held Business Owner: Nonqualified Deferred Compensation, Grace C. Wellwerts
Marquette Elder's Advisor
Seniors are living and staying employed longer. Wellwerts discusses how being strategic, a client can defer inflation-adjusted income into retirement years.
Planning And Experiencing The Move To A Continuing Care Retirement, Mary Anne Erickson, John A. Krout
Planning And Experiencing The Move To A Continuing Care Retirement, Mary Anne Erickson, John A. Krout
Marquette Elder's Advisor
This article suggest that continuing care retirement communities have become more common. While expensive, they offer many amenities as well as long term care
Texas' Nursing Home Enforcement System, Lowell A. Keig, Rande K. Herrell
Texas' Nursing Home Enforcement System, Lowell A. Keig, Rande K. Herrell
Marquette Elder's Advisor
This article examines Texas' nursing home regulation system, and suggest that it should be a national model.
Retirement Account Distributions: A Journey Through The New Rules, Catherine M. Priebe Hertzberg
Retirement Account Distributions: A Journey Through The New Rules, Catherine M. Priebe Hertzberg
Marquette Elder's Advisor
This article examines new proposed regulations that make changes to minimum required distribution rules for IRAs and other retirement accounts
Social Security Reform: Creating Transformative Opportunities For African Americans, Pheobe Weaver Williams
Social Security Reform: Creating Transformative Opportunities For African Americans, Pheobe Weaver Williams
Marquette Elder's Advisor
The Social Security retirement income program provides important security to nearly all workers in the U.S. Professor Williams reviews aspects of the Social Security system and proposes reforms in order to provide equitable protection.
New Regulations Simplify Required Distributions From Iras And Certain Qualified Deferred Compensation Plans, Richard Mandel
New Regulations Simplify Required Distributions From Iras And Certain Qualified Deferred Compensation Plans, Richard Mandel
Marquette Elder's Advisor
In April 2002, the IRS released new regulations that greatly simplify the rules regarding required distributions from IRAs and certain qualified retirement plains. This articles summarizes these new rules by applying them to the two categories into which each retiree must fall and analyzing the effect of the four possible beneficiary designations available to retirees.
"Super Charging" Your Clients' Retirement Portfolios, Robert P. Kreitler
"Super Charging" Your Clients' Retirement Portfolios, Robert P. Kreitler
Marquette Elder's Advisor
Most retirees' main objective is to maximize income and ensure that they do not run out of money. This is different from the preretirement years, when maximizing total return is typically the client's goal. The often neglected immediate fixed annuity is unique in its ability to "super charge" a portfolio. It can increase income and guarantee it for life.
Elders In The Workforce: Advantage And Disadvantages Of Staying On The Job, Monica Pikoske
Elders In The Workforce: Advantage And Disadvantages Of Staying On The Job, Monica Pikoske
Marquette Elder's Advisor
Is it wise to encourage older employees to delay retirement? Some statistics say yes. While there are benefits to continuing to work, however, there are also financial consequences. This article discusses the advantages and drawbacks of staying in the workforce beyond the age of sixty-five.
Essay: Housing Trends For The 21st Century, Ellen Hirsch De Haan
Essay: Housing Trends For The 21st Century, Ellen Hirsch De Haan
Marquette Elder's Advisor
This essay describes the changes in housing availability over the last two centuries and offers projections of what this century might bring, and how possible changes will affect the elderly. Discussion includes condominiums, cooperatives, and planned communities, and how these types of ownership can relate to retirees. The return to higher density housing along with mixed land usage is discussed in detail.
Tax Planning For Retirement , Vada Waters Lindsey
Tax Planning For Retirement , Vada Waters Lindsey
Marquette Elder's Advisor
As increasing life expectancy and inflation diminish the purchasing power of retirement savings, careful tax planning to maximize funds available to seniors is necessary. Lindsey discusses the taxation of various types of retirement income including traditional and Roth IRAs and Social Security benefits, and explains how careful planning can reduce income and estate taxes. The disparate effects of state income and estate taxes are also explored.
Union-Negotiated Lifetime Retiree Health Benefits: Promise Or Illusion, William T. Payne, Pamina Ewing
Union-Negotiated Lifetime Retiree Health Benefits: Promise Or Illusion, William T. Payne, Pamina Ewing
Marquette Elder's Advisor
This article discusses the legal theories and causes of action that are commonly associated with claims for benefits of retirees. The authors begin by discussing the way contractual benefits are analyzed by the courts, including the determination of a governing document, the Yard-Man Inference, and the use of extrinsic evidence when governing documents are ambiguous. The authors then discuss several potential claims employees may raise in an attempt to secure benefits, such as promissory estoppel, equitable estoppel, and breach of fiduciary duty. The authors conclude by stating that although they have attempted to lay out the claims associated with retiree …
Continuing Care Retirement Communities Versus The Fair Housing Act: Independent Living And Involuntary Transfer , D. Trey Jordan
Continuing Care Retirement Communities Versus The Fair Housing Act: Independent Living And Involuntary Transfer , D. Trey Jordan
Marquette Elder's Advisor
America's population is aging. The Baby Boomers are beginning to reach retirement age. The number and percentage of seniors is dramatically increasing, and the numbers will explode in 2011, as the Baby Boomers begin to reach age sixty-five. With an aging population, issues including Social Security, health care, Medicaid, and housing must be addressed. This article focuses on the issue of senior citizen housing and the Fair Housing Act (FHA). In particular, this article explores the applications of independent living requirements or active senior clauses in assisted living development housing contracts under the Fair Housing Act.
Reality Check: The Dra's Impact On Seniors With Disabilities And Their Caregivers , Kim Dayton
Reality Check: The Dra's Impact On Seniors With Disabilities And Their Caregivers , Kim Dayton
Marquette Elder's Advisor
This article discusses the hardships on seniors with disabilities who are unable to qualify for Medicaid under the Deficit Reduction Act of 2005. The author argues for the repeal of the DRA and calls for policymakers and politicians to work towards a long-term care financing scheme that fairly distributes the costs of long term care across the broader population. The author begins by laying out the arguments that the nation cannot afford the cost of long-term care for the elderly and disabled, their entitlement to such care should be minimized, and individuals should plan for their own healthcare. The author …
Elder Investments: A Critique Of Professional And Consumer Mediocrity, Errold F. Moody Jr.
Elder Investments: A Critique Of Professional And Consumer Mediocrity, Errold F. Moody Jr.
Marquette Elder's Advisor
This article deals with the investing problems faced by many elderly today. Moody asserts that investor problems are primarily caused by a lack of knowledge in all levels of American financing, investing, and retirement planning. The article examines recent systemic failures that demonstrate how lack of knowledge continues to promote system failure, despite its grievous impact on the elderly who rely on their investments for income when they can no longer work.