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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 …
The Federal Common Law Of Vicarious Fiduciary Liability Under Erisa, Colleen E. Medill
The Federal Common Law Of Vicarious Fiduciary Liability Under Erisa, Colleen E. Medill
University of Michigan Journal of Law Reform
The Employee Retirement Income Security Act of 1974 ("ERISA"), the federal law that regulates employer-sponsored benefit plans, has a rich history of judiciallycreated federal common law. This Article explores the theoretical, policy, statutory, and stare decisis grounds for the development of another area offederal common law under ERISA-the incorporation of respondeat superior liability principles to impose ERISA fiduciary liability ("vicarious fiduciary liability") upon a corporation for the fiduciary activities of its employees or agents. The Article proposes that the federal courts should adopt a federal common law rule of vicarious fiduciary liability under ERISA based on the traditional scope of …
Employee Stock Ownership Plans, Voting Rights, And Plant Closings, Jonathan Barry Forman
Employee Stock Ownership Plans, Voting Rights, And Plant Closings, Jonathan Barry Forman
University of Michigan Journal of Law Reform
After examining the structure and tax consequences of ESOPs, this note will argue that ESOPs should guarantee employees full voting rights over securities transferred to them under such plans. This note will also propose that ESOPs can be used in employee takeovers of corporations as part of a plan to help prevent plant closings.