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Full-Text Articles in Retirement Security Law
Eliminating Arbitrary Age Descrimination In 401(K) And Pension Plan Eligibility Requirements: A Simple Fix To Encourage Younger Workers To Save For Retirement, Andrew J. Clopton
Eliminating Arbitrary Age Descrimination In 401(K) And Pension Plan Eligibility Requirements: A Simple Fix To Encourage Younger Workers To Save For Retirement, Andrew J. Clopton
University of Michigan Journal of Law Reform Caveat
Current federal law allows companies to exclude their youngest workers from participating in 401(k) and other pension plans. Public policy should encourage young workers to contribute to retirement as early as practicable, rather than impose obstacles to saving. Workers who begin saving even a few years earlier improve their retirement security and reduce the likelihood they will be dependent on the government later in life. While “age discrimination” is conventionally thought of as the mistreatment of older workers, this concept applies equally to employees who are differentiated based solely on their young age. Thus, Congress should amend the Internal Revenue …
Stock Market Volatility And 401 (K) Plans, Colleen E. Medill
Stock Market Volatility And 401 (K) Plans, Colleen E. Medill
University of Michigan Journal of Law Reform
Many workers today depend on their 401(k) plan to provide them with an adequate income during retirement. For these workers to achieve retirement income security, their 401(k) plan investments must perform well over their working lifetime. Employers' selection of investment options for the 401(k) plan, a fiduciary duty under the Employee Retirement Income Security Act of 1974 (ERISA), plays a critical role in determining investment performance. In this Article, Professor Medill uses a series of hypothetical litigation scenarios to illustrate how interpretation of the employer's duty of prudence and duty of loyalty under ERISA present different policy choices for the …
Changing The Rules Of The Game: Pension Plan Terminations And Early Retirement Benefits, Dana M. Muir
Changing The Rules Of The Game: Pension Plan Terminations And Early Retirement Benefits, Dana M. Muir
Michigan Law Review
This Note examines whether early retirement benefits are included among the liabilities that an employer must satisfy before that employer can receive a reversion of excess assets. Part I reviews the background of plan terminations and how they affect early retirement benefits. It also discusses the general structure of ERISA. Part II examines the controversy surrounding whether ERISA's definition of "accrued benefits" includes early retirement benefits. ERISA requires that employees receive all of their accrued benefits before the employers receive any reversions. However, the circuits have disagreed as to whether early retirement benefits are accrued benefits and, therefore, covered by …
Protecting Retired Workers From Inflation: Collective Bargaining For Retiree Benefits, Richard M. Bank, Thomas C. Woodruff
Protecting Retired Workers From Inflation: Collective Bargaining For Retiree Benefits, Richard M. Bank, Thomas C. Woodruff
University of Michigan Journal of Law Reform
The purpose of this article is to explore whether the collective bargaining process in its present form, or with certain modifications, can provide workers with meaningful protection against inflation. Part I evaluates the adequacy of the collective bargaining process by examining the internal dynamics of unions, the interests of employers and the application of the doctrine of fair representation to collective bargaining. After concluding that the current system inadequately protects retirees, Part II proposes alternative methods to strengthen the role of retirees in the collective bargaining process.
Labor Law--Collective Bargaining--The Retirement Benefits Of Retired Employees Are A Mandatory Subject Of Bargaining Because Retirees Are "Employees" Under The Nlra And Because Active Employees Have An Interest In Such Benefits--Pittsburgh Plate Glass Company, Chemical Division, Michigan Law Review
Michigan Law Review
This Recent Development will examine the substance and implications of the latter aspect of Pittsburgh Plate Glass, although it is only dictum in the case. The third ground of the Board's conclusion regarding retirement benefits was really only a general reiteration of the first two. It is therefore apparent that that ground is dependent upon the validity of either or both of the other two bases of the Board's conclusion.