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Articles 1 - 17 of 17
Full-Text Articles in Retirement Security Law
Reforming Pensions While Retaining Shareholder Voice, David H. Webber
Reforming Pensions While Retaining Shareholder Voice, David H. Webber
Faculty Scholarship
Public pension and labor union funds have been the driving force in diversified shareholder activism. They have also fended off attacks on jobs and proactively created jobs for fund contributors. These funds currently represent almost $4 trillion in assets over which workers have substantial control. That worker control - and the collective nature of defined benefit pension plans - is the necessary precondition for their shareholder activism. Both worker control and collective investment are directly threatened by the rise of defined contribution funds, particularly by well-funded efforts to promote the 401(k) in the public sector, the last bastion of the …
Why Low-Income Workers Need To Save For Retirement And How They Can Do It, Philip C. Aka, Chidera Oku, Elizabeth Arnott-Hill, Aref A. Hervani
Why Low-Income Workers Need To Save For Retirement And How They Can Do It, Philip C. Aka, Chidera Oku, Elizabeth Arnott-Hill, Aref A. Hervani
University of Arkansas at Little Rock Law Review
No abstract provided.
After Tackett: Incomplete Contracts For Post-Employment Healthcare, Maria O'Brien
After Tackett: Incomplete Contracts For Post-Employment Healthcare, Maria O'Brien
Faculty Scholarship
This paper examines the recent U.S. Supreme Court retiree health care decision in Tackett v. M & G Polymers and focuses, in particular, on the ostensibly odd silence with respect to a critical contract term — whether the parties in fact agreed that these benefits were vested. Although the union in Tackett insisted these welfare benefits were clearly intended to vest and the employer now asserts they can be modified at any time, the collective bargaining agreement and supporting documents are ambiguous on this question. This paper examines how and why this “silence” persisted for so many decades and concludes …
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 …
Defined (Yet Uncertain) Benefit Pension Plans In America, Travis Bayer
Defined (Yet Uncertain) Benefit Pension Plans In America, Travis Bayer
Chicago-Kent Law Review
Despite playing a central role in many public and private employees' retirements, defined benefit pension plans are woefully underfunded. Moreover, the combination of a Baby Boomer retirement bulge and a struggling economy are putting even more pressure on defined benefit plans. This Note examines relevant background information regarding defined benefit pension plans and demographic data of the Baby Boomer generation. This Note then explores how and to what extent states and private employers have created contractual obligations through defined benefit plans and addresses what happens when those contractual obligations are breached. Finally, this Note suggests that litigation cannot provide a …
The Limitations Of Retirement Plan Law, Peter M. Van Zante
The Limitations Of Retirement Plan Law, Peter M. Van Zante
ExpressO
It is widely believed that employers determine whether or not their employees receive retirement benefits and the type and amount of any benefits that are received. This belief is mistaken. While sponsorship of a retirement plan is a voluntary choice on the part of the sponsoring employer and the sponsoring employer directly controls the type of plan and the level of benefits provided, the employer's choices on these matters are controlled by its employees' preferences for different forms of compensation. An employer must spend the funds available for employee compensation so as to provide its employees with those forms of …
Recovering Retirement Security: An Analysis Of The Lockdown Claims Under Erisa, As Illustrated By The Enron Litigation, Margo Eberlein
Recovering Retirement Security: An Analysis Of The Lockdown Claims Under Erisa, As Illustrated By The Enron Litigation, Margo Eberlein
Chicago-Kent Law Review
This Note discusses Enron's lockdown of its 401(k) plan, the effect this decision had on Enron employees' pension funds, and the legal implications of this decision under the current statutory framework, ERISA. It describes the lawsuit filed by Enron employees in an attempt to recover some of the lost funds, as well as the probability of success for that action specifically and similar actions under ERISA in the future.
The Changing World Of Employee Benefits, Maria O'Brien Hylton
The Changing World Of Employee Benefits, Maria O'Brien Hylton
Chicago-Kent Law Review
The employee benefits picture, at least for many plan participants and some plan sponsors, is a scary and bleak one. The number of workers with pension coverage is declining, health insurance rates are rising much faster than the rate of inflation, and the number of uninsured continues to rise as well. The decline in union density, the recent boost given by the U.S. Supreme Court to Any Willing Provider ("AWP") laws, and the deluge of recent benefits-related scandals are also all part of this landscape. This Article examines each of these issues, with a focus on reforms that would increase …
Commentary: Is It Time To Take The Broom And Really Clean House? A New Paradigm For Employee Benefits, Mary Ellen Signorille
Commentary: Is It Time To Take The Broom And Really Clean House? A New Paradigm For Employee Benefits, Mary Ellen Signorille
Chicago-Kent Law Review
No abstract provided.
Employee Benefits: Erisa Enhanced Benefit Claims And The Seventh Amendment: No Common Ground In The Tenth Circuit-- Adams V. Cyprus Amax Minerals Co., Amy Nixon
Oklahoma Law Review
No abstract provided.
Pensions And Productivity, Stuart Dorsey, Christopher Mark Cornwell, David A. Macpherson
Pensions And Productivity, Stuart Dorsey, Christopher Mark Cornwell, David A. Macpherson
Upjohn Press
Employers typically view their investment in pension plans as a means of providing retirement income for their workers. Economists, on the other hand, view pension programs as a way to increase workplace productivity. Dorsey, Cornwell and Macpherson explore the theoretical and empirical basis for this perspective and, in the process, offer a complete and up-to-date discussion on the productivity theory of pensions.
Contemporary Social Policy Analysis And Employee Benefit Programs: Boomers, Benefits, And Bargains, Dana M. Muir
Contemporary Social Policy Analysis And Employee Benefit Programs: Boomers, Benefits, And Bargains, Dana M. Muir
Washington and Lee Law Review
No abstract provided.
Private Pension Policies In Industrialized Countries: A Comparative Analysis, John A. Turner, Noriyasu Watanabe
Private Pension Policies In Industrialized Countries: A Comparative Analysis, John A. Turner, Noriyasu Watanabe
Upjohn Press
In this comprehensive review of private pension systems in effect world-wide, Turner and Watanabe discuss the fundamental issues facing nations as they adopt and expand private pension systems. Specific policies in effect in several private pension systems are analyzed including those in nations dominating world pension assets (Japan, Germany, the U.K., and the U.S.), as is the country whose system is widely regarded as the model for developing nations, Chile. Turner and Watanabe also provide a compendium on the worldwide trends influencing pension systems and their implications for pension policy.
Federal Common Law And Gaps In Federal Statutes: The Case Of Erisa Plan Limitation Periods For Section 502(A)(1)(B) Actions, Jim Greiner
Michigan Law Review
This Note argues that federal courts should adopt a uniform national rule that upholds plan provisions modifying the limitation period for a section 502(a)(l)(B) action. Part I examines the reasoning of those courts that have borrowed state law to determine the validity of modifications of the limitation period applicable to actions arising under BRISA section 502(a)(l)(B) and under other federal statutes. Part I argues that those courts may have incorrectly characterized the validity of plan limitation periods as an issue of limitation law. As a consequence of this characterization, those courts have followed the Supreme Court's rule that, when borrowing …
Employment Discrimination Claims Under Erisa Section 510: Should Courts Require Exhaustion Of Arbitral And Plan Remedies?, Jared A. Goldstein
Employment Discrimination Claims Under Erisa Section 510: Should Courts Require Exhaustion Of Arbitral And Plan Remedies?, Jared A. Goldstein
Michigan Law Review
This Note examines whether courts should require section 510 claimants to exhaust either plan-based or arbitral remedies before seeking judicial relief. It begins by comparing the basis for an exhaustion requirement with respect to benefits claims with the basis for such a requirement with respect to statutory claims - like those under section 510. Part I examines the rationale courts have offered for requiring exhaustion of plan remedies for benefits claims. Part I concludes that federal courts have correctly determined that Congress intended individuals bringing benefits claims to exhaust the remedies provided by the plan before seeking judicial relief. Part …
Pension Policy For A Mobile Labor Force, John A. Turner, Tabitha A. Doescher, Phyllis A. Fernandez
Pension Policy For A Mobile Labor Force, John A. Turner, Tabitha A. Doescher, Phyllis A. Fernandez
Upjohn Press
Employers often create a conflict between job mobility and retirement security when they deny future pension benefits to workers who quit a job before reaching retirement age. Unfortunately, this deterrent to job-changing inhibits the labor market's ability to adjust. It also means workers may be unprepared financially upon retirement. Turner describes why pension losses are such a significant problem and presents empirical evidence as to the number of workers affected and the amount of losses they incur. He also probes pension portability policy options and looks at portability options in effect in Canada, Japan, the Netherlands, and the United Kingdom.
Closing The Massachusetts Mutual V. Russell Gap: Monetary Damage Awards Under Erisa Section 502(A)(3)
Washington and Lee Law Review
No abstract provided.