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Full-Text Articles in Retirement Security Law
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 …
Pension Plan Terminations And Asset Reversions: Accommodating The Interests Of Employers And Employees, Carl A. Butler
Pension Plan Terminations And Asset Reversions: Accommodating The Interests Of Employers And Employees, Carl A. Butler
University of Michigan Journal of Law Reform
This Note focuses on the problems that often arise for plan participants when an overfunded defined benefit plan is terminated and the employer recaptures excess assets. Part I explains the relative ease with which employers can terminate plans and receive excess assets under current pension law. Part II argues that pension law must be reformed because its shortcomings threaten American workers' retirement income security, it allows for sham terminations that remove assets from plans that are, in fact, ongoing, and it usually allows excess assets to go to employers rather than employees. Part III discusses two reforms proposed for plan …
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.