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Full-Text Articles in Law
Erisa & Uncertainty, Brendan S. Maher, Peter K. Stris
Erisa & Uncertainty, Brendan S. Maher, Peter K. Stris
Faculty Scholarship
In the United States, retirement income and health insurance are largely provided through private promises made incident to employment. These “benefit promises” are governed by a statute called ERISA, which many healthcare and pension scholars argue is the cause of fundamental problems with our nation’s health and retirement policy. Inevitably, however, they advance narrowly tailored proposals to amend the statute. This occurs because of the widely-held view that reform should leave undisturbed the underlying core of the statute. This Article develops a theory of ERISA designed to illustrate the unavoidable need for structural reform.
The "Discretionary Clause" In Erisa Health Insurance Plans, Greg Munro
The "Discretionary Clause" In Erisa Health Insurance Plans, Greg Munro
Faculty Journal Articles & Other Writings
This article reviews the issue of the power of state insurance commissioners to regulate the use of the discretionary clause under ERISA. The article questions the remarkable power imbalance between insureds and insurers noting the courts' deference to decisions made under discretionary clauses and the abuse of discretion standard.
Protecting Our Aging Retirees: Converting 401(K) Accounts Into Federally Guaranteed Lifetime Annuities, Lawrence A. Frolik
Protecting Our Aging Retirees: Converting 401(K) Accounts Into Federally Guaranteed Lifetime Annuities, Lawrence A. Frolik
Articles
America’s retirees are faced with a potential financial disaster. Economic security in retirement has long depended on Social Security, private savings and employer provided retirement plans. While much attention has been paid to the financial problems of Social Security and the lack of private saving for retirement, little attention has been paid to an alarming development in employer provided retirement plans: the likely inability of retirees during the long years of their retirement to successfully manage their retirement funds accumulated in 401(k) and similar accounts. We as a society have set up a funding system for retirement that assumes retirees …