Retirement Security Law Commons^™

Erisa Misrepresentation And Nondisclosure Claims: Securities Litigation Under The Guise Of Erisa?, Clovis Trevino Bravo

Georgetown Law Student Series

In the wake of recent corporate scandals and dramatic market downturns, many employees whose retirement savings plans were heavily invested in the stock of their employer have seen their account balances substantially depleted. To recover for their losses, plan participants have filed lawsuits under the Employee Retirement Income Security Act (ERISA) alleging that plan fiduciaries made misrepresentations or failed to disclose material information about the suitability of investing in the company stock. These suits are generally derivative or companion cases to securities class actions based on the same allegations of misrepresentations or nondisclosures. Even though there is a significant overlap …

Understanding And Problematizing Contractual Tort Subrogation, Brendan S. Maher, Radha A. Pathak

Faculty Scholarship

The modern incarnation of tort subrogation allows an insurer to force its insured to turn over the litigation proceeds independently obtained by the insured against a third-party tortfeasor, even if the insured has not been made whole by such litigation. This Article demonstrates that such a result is the product of a subrogation-as-contract paradigm that has taken hold in the federal system, most notably by the United States Supreme Court in Sereboff v. Mid-Atlantic Services, 547 U.S. 356 (2006). More importantly, the Article illustrates the conceptual and historical roots of subrogation to demonstrate the extent to which subrogation-as-contract is divorced …

Trial And Error: Examining Erisa § 514(A) Preemption Of Employer "Fair Share" Laws In The Aftermath Of Golden Gate Restaurant Association V. City And County Of San Francisco, Daniel Ranellone

Buffalo Public Interest Law Journal

No abstract provided.

Pension Systems And Inflation-Indexed Bonds: A Study Of Strengthening Retirement Income Security Through Comparative Analysis Of The United States And Korean Systems, Joon Suk Bae

Maurer Theses and Dissertations

As most of the countries in the world approach an aging society, security for the aged emerges as one of the most important goals for a government to pursue. There are two primary areas related to retirement income security: pension systems and inflation-indexed bonds. Pension systems fall into three categories: public, corporate, and individual pensions. Public pensions, such as Social Security in the United States, are showing their limitation in securing retirement income because it is no longer easy to maintain their solvency as the ratio of workers-to-retirees goes down. Because of this limitation of public pensions, private pensions are …

Tercer Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García

Bruno L. Costantini García

Tercer Congreso Nacional de Organismos Públicos Autónomos

"Autonomía, Reforma Legislativa y Gasto Público"

Evidence And Ideology In Assessing The Effectiveness Of Financial Literacy Education, Lauren E. Willis

All Faculty Scholarship

Financial literacy education has long been promoted as key to consumer financial well-being. Yet the claim has never had more than negligible statistically significant empirical support. This review (1) sets forth the model of financial literacy education underlying public support for these programs today, (2) identifies pervasive and serious limitations in existing empirical research used by policymakers as evidence of the effectiveness of this education, and (3) recommends a number of alternative public policies suggested by the existing research.

Against Financial Literacy Education, Lauren E. Willis

All Faculty Scholarship

The dominant model of regulation in the United States for consumer credit, insurance, and investment products is disclosure and unfettered choice. As these products have become increasingly complex, consumers’ inability to understand them has become increasingly apparent, and the consequences of this inability more dire. In response, policymakers have embraced financial literacy education as a necessary corollary to the disclosure model of regulation. This education is widely believed to turn consumers into “responsible” and “empowered” market players, motivated and competent to make financial decisions that increase their own welfare. The vision is of educated consumers handling their own credit, insurance, …

Actuarially Speaking: A Plain Language Summary Of Actuarial Methods And Practices For Public Employee Pension And Other Post-Employment Benefits, California Research Bureau

California Agencies

No abstract provided.

On Beyond Calpers: Survey Evidence On The Developing Role Of Public Pension Funds In Corporate Governance, Stephen Choi, Jill E. Fisch

All Faculty Scholarship

No abstract provided.

The Public Trust In Private Hands: Social Security And The Politics Of Government Investment, Benjamin A. Templin

Kentucky Law Journal

No abstract provided.

How Much Is Enough? Giving Fiduciaries And Participants Adequate Information About Plan Expenses, 41 J. Marshall L. Rev. 1005 (2008), Debra A. Davis

UIC Law Review

No abstract provided.

Retirement In A Defined Contribution Era: Making The Money Last, 41 J. Marshall L. Rev. 1091 (2008), David Pratt

UIC Law Review

No abstract provided.

The Future Of Social Security: Principles To Guide Reform, Kathryn L. Moore

Law Faculty Scholarly Articles

On February 12, 2008, the nation's first Baby Boomer, Kathleen Casey-Kirschling, was the first of her generation to receive a Social Security retirement benefit. Born one second after midnight on January 1, 1946, Ms. Casey-Kirschling was born just eleven years after the Social Security system was originally enacted, nine years after the first Social Security payroll taxes were collected, and six years after the system first began to pay monthly retirement benefits.

"As the nation's first Baby Boomer, Ms. Casey-Kirschling is leading what is often referred to as America's silver tsunami. Over the next two decades, nearly eighty million Americans …

Together We Can: Imagining The Future Of Employee Pensions, Maria O'Brien

Faculty Scholarship

Reviewing Teresa Ghilarducci & Christian E. Weller, Eds. Employee Pensions: Policies, Problems & Possibilities (LERA 2007)

A little over thirty years ago Congress enacted the Employee Retirement Income Security Act (ERISA),¹ a comprehensive reform of the existing system of pension regulation.² Solidly into its fourth decade, ERISA has been the object of much commentary as the various federal courts have struggled to infuse its complicated and sometimes imprecise pieces with coherent meaning. ³ Some have suggested that ERISA's primary goal of reducing the risk to employees of employer default has largely been achieved.⁴ Others believe that almost …

The New Retiree Health Vebas, Kathryn L. Moore

Law Faculty Scholarly Articles

Granted tax exempt status since 1928, Voluntary Employees' Beneficiary Associations (VEBAs) have received considerable attention since the fall of 2007 when General Motors, Ford, and Chrysler reached separate landmark agreements with the United Auto Workers union pursuant to which the companies agreed to contribute billions of dollars to VEBAs in exchange for transferring their retiree health care liabilities to the VEBAs. Specifically, General Motors agreed to contribute $31.9 billion while Ford agreed to contribute $13.6 billion, and Chrysler agreed to contribute $11 billion. Sometimes referred to as "defeasance" VEBAs, these "new," "stand-alone" retiree health VEBAs, differ significantly from traditional VEBAs …

Baby Ka-Boom! Coming Developments In Erisa Litigation Due To Social, Demographic, And Financial Pressures From The Baby Boom Generation, 41 J. Marshall L. Rev. 1037 (2008), Craig C. Martin, Matthew J. Renaud, Douglas A. Sondgeroth

UIC Law Review

No abstract provided.

The Future Of Social Security: Principles To Guide Reform, 41 J. Marshall L. Rev. 1061 (2008), Kathryn L. Moore

UIC Law Review

No abstract provided.

The Vesting, Modification, And Financing Of Public Retiree Health Benefits In Light Of New Accounting Rules, 41 J. Marshall L. Rev. 1147 (2008), John Sanchez

UIC Law Review

No abstract provided.

European And American Issues In Employee Benefits Law Compared, 41 J. Marshall L. Rev. 1189 (2008), Yves Stevens

UIC Law Review

No abstract provided.