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Full-Text Articles in Retirement Security Law
A Public Pensions Bailout: Economics And Law, Terrance O'Reilly
A Public Pensions Bailout: Economics And Law, Terrance O'Reilly
University of Michigan Journal of Law Reform
In several states, public pension plans are at risk of insolvency within a decade. These risks are significant, and the solutions currently contemplated are likely to fall short of what is necessary to contain the problem. If public pension plans do become insolvent, it seems likely the federal government will bail them out. This Article proposes that the federal government prepare for the prospect of federal financial support of public pension plans by instituting an optional regulatory regime for public pensions. If a state elects not to participate, its public pension plans would be ineligible for federal financial support. In …
Erisa Preemption: Judicial Flexibility And Statutory Rigidity, Leon E. Irish, Harrison J. Cohen
Erisa Preemption: Judicial Flexibility And Statutory Rigidity, Leon E. Irish, Harrison J. Cohen
University of Michigan Journal of Law Reform
This Article attempts to describe the ways in which, and the reasons why section 514(a) has caused the courts and Congress so much difficulty. Part I reviews the legislative history of section 514(a), with emphasis on the ambivalence Congress has shown toward its 1974 draftsmanship. Part II attempts to provide a coherent description of the case law that has developed under section 514(a). Part III completes the legislative history by examining the two instances in which experience compelled Congress to revise section 514. Finally, Part IV discusses examples of problems courts have faced when crafting a federal common law of …
Erisa Retirement Plans In Individual Bankruptcy, John Minton Newell
Erisa Retirement Plans In Individual Bankruptcy, John Minton Newell
University of Michigan Journal of Law Reform
When an employee covered by an ERISA retirement plan files a petition in bankruptcy, the court is presented with a number of complex issues regarding the relationship among ERISA, the Bankruptcy Code (Code), and the state law of creditors' rights. Three issues have emerged in these cases, and the courts have divided on the proper resolution of each of these issues. First, is the debtor's interest in an ERISA retirement plan "property of the estate," and thus available for distribution to creditors? Second, if the debtor's interest is property of the estate, and the debtor uses the state exemption scheme, …
Legislation - Old Age Pensions
Legislation - Old Age Pensions
Michigan Law Review
Out of our changing social theories has grown modern social legislation. The tendency is nowhere better illustrated than in the development of legislation for the care of aged persons. During the last decade great strides have been made in enacting such legislation, and the present year has seen increased activity, leading to the passage of old age pension laws in five states and to numerous other legislative accomplishments.
Constitutionality Of Teachers' Pensions Legislation, Horace Lafayette Wilgus
Constitutionality Of Teachers' Pensions Legislation, Horace Lafayette Wilgus
Articles
To arrive at a safe conclusion as to the validity of legislation. providing for teachers' pensions requires some consideration of all pension legislation. A pension is defined by BOUVIER as "A stated and certain allowance granted by the government to an individual, or those who represent him, for valuable services performed by him for the country;"1 "a periodical allowance of money granted by the government for services rendered;"2 "a stated payment to a person in consideration of the past services of himself or of some kinsman or ancestor;"3 "an annuity from the government for services rendered in the past;"4 "a …