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Full-Text Articles in Retirement Security Law
Lump Sum Vs Annuity Payments: Which Is Right For Me?, Pension Action Center, Gerontology Institute, University Of Massachusetts Boston
Lump Sum Vs Annuity Payments: Which Is Right For Me?, Pension Action Center, Gerontology Institute, University Of Massachusetts Boston
Pension Action Center Publications
As employers are looking to reduce pension plan liabilities, more and more participants are being given the option to receive a one-time lump sum payment from their pension plan in lieu of receiving monthly annuity payments for life. Deciding on which form of pension benefit to take is a very important decision that requires careful consideration. Unfortunately, there is no one-size-fits-all answer. While a lump sum may make sense for one person, it may be a serious mistake for another. And it is a decision that you will have to live with for the rest of your life. Anyone who …
A Failure To Supervise: How The Bureaucracy And The Courts Abandoned Their Intended Roles Under Erisa, Lauren R. Roth
A Failure To Supervise: How The Bureaucracy And The Courts Abandoned Their Intended Roles Under Erisa, Lauren R. Roth
Scholarly Works
This Article addresses how courts failed to adequately supervise employers administering pension plans before ERISA. Relying on a number of different legal theories — from an initial theory that pensions were gratuities offered by employers to the recognition that pension promises could create contractual rights — the courts repeatedly found ways to allow employers to promise much and provide little to workers expecting retirement security. In Section III, this Article addresses how Congress failed to create an effective structure for strong bureaucratic enforcement and the bureaucratic agencies with enforcement responsibilities failed to fulfill those functions. Finally, in Section IV, this …
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 …