Law Commons^™

Repeal Tax Incentives For Esops, Andrew Stumpff, Norman Stein

Norman P. Stein

The proposal would repeal special tax incentives given to employee stock ownership plans, as well as the exemption granted to those plans from the investment diversification requirement of the ERISA.

The proposal is made as a part of the Shelf Project, a collaboration among tax professionals to develop - and perfect proposals to help Congress when it is ready to raise revenue. Shelf Project proposals are intended to raise revenue without raising rates because the best systems have the lowest feasible tax rates and taxes that are unavoidable. Shelf projects defend the tax base and improve the rationality and efficiency …

An Alphabet Soup Agenda For Reform Of The Internal Revenue Code And Erisa Provisions Applicable To Qualified Deferred Compensation Plans, Norman Stein

Norman P. Stein

No abstract provided.

Three And Possibly Four Lessons About Erisa That We Should, But Probably Will Not Learn From Enron, Norman Stein

Norman P. Stein

This Article focuses on three particular shortcomings of the statute: ERISA sections 404(a)(2) and 407(b), which for defined contribution plans relax regulatory requirements restricting investment in stock of the sponsoring employer; ERISA section 404(c), which provides incentives for firms sponsoring defined contribution plans to shift responsibility for portfolio allocation to plan participants; and ERISA section 408(c), which expressly permits directors and employees of a plan's sponsor to serve as plan fiduciaries and implicitly permits them to make critical judgments on issues pitting the interest of the plan's sponsor (or the managing employees of the sponsor) against those of plan participants. …

Cross-Tested Defined Contribution Plans: A Response To Professor Zelinsky, Peter Orszag, Norman Stein

Norman P. Stein

No abstract provided.

Leverage, Linkage, And Leakage: Problems With The Private Pension System And How They Should Inform The Social Security Reform Debate, Norman Stein

Norman P. Stein

The problems of the private sector retirement system should be considered in the debate over whether to introduce individual investment accounts into social security. The paper considers three problems of the private pension system, leverage, linkage, and leakage. By leverage the paper refers to the common understanding that the tax treatment of private pension plans is intended to leverage the qualified-plan tax benefits for business owners and managers through regulation into benefits for lower and moderate income workers. By linkage, the paper refers to the idea that it is desirable for participant benefit expectations to be linked to the actual …

Perspective - A Controversy Over Age In An Age Of Cash Balance Controversy, Norman Stein

Norman P. Stein

No abstract provided.