Social Welfare Law Commons^™

Fully Funded Pensions, Jonathan Barry Forman

Marquette Law Review

At retirement, workers want to have enough income to support themselves throughout their retirement years. In that regard, financial planners often suggest that retiring workers should aim to replace 70 to 80% of their annual preretirement earnings. Social Security benefits typically replace around 35% of the typical worker’s preretirement earnings, and the purpose of this Article is to show how pensions could and should be designed to replace, say, 40% of the typical worker’s preretirement earnings throughout her retirement years. In particular, because so many public and private pension plans are underfunded, this Article focuses on how to fully fund …

Protective Plan Provisions For Employer-Sponsored Employee Benefit Plans, Kathryn J. Kennedy

Marquette Benefits and Social Welfare Law Review

Federal case law has provided plan sponsors of the

Employee Retirement Income Security Act of 1974 (ERISA)

covered plans with the ability to insert plan provisions that are

more favorable to the plan sponsor rather than the plan

participant or beneficiary (so-called “protective plan provisions”).

This Article first examines what is the “plan document” for

purposes of ERISA and what protective plan provisions should

be considered for insertion into the plan document and its

related “instruments.”

Allowing States To Help Workers Safe For Retirement: Department Of Labor's Proposed Rulemaking That Provides A Safe Harbor For State Savings Programs Under Erisa, William A. Nelson

Marquette Benefits and Social Welfare Law Review

There is a “retirement crisis” in America. Contributing to

this crisis is the fact that millions of Americans do not have

access to a retirement savings plan through their employers.

States, concerned with the economic stability of their citizens,

have created laws that require private sector employers to

implement state-administered payroll deduction IRA programs

in their workplaces. Even though many states are currently

debating whether to adopt state payroll deduction programs,

this Article will focus on Oregon, Illinois, and California, which

have enacted laws along those lines.

One obstruction to wider adoption of such state measures

has been uncertainty about …