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Full-Text Articles in 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 …
Federal Common Law, Cooperative Federalism, And The Enforcement Of The Telecom Act, Philip J. Weiser
Federal Common Law, Cooperative Federalism, And The Enforcement Of The Telecom Act, Philip J. Weiser
Publications
Congress increasingly has enacted cooperative federalism programs to achieve complex regulatory policy objectives. Such programs combine the authority of federal regulators, state regulators, and federal courts in creative and often pathmarking ways, but the failure of these actors to appreciate fully their respective roles threatens to undermine cooperative federalism's effectiveness. In this Article, Professor Philip Weiser develops a coherent vision of how federal courts should enforce cooperative federalism regulatory programs. In particular, he relates the rise and purpose of cooperative federalism to the federal courts' increased reluctance to make federal common law under the Erie doctrine and their greater deference …
Towards A Constitutional Architecture For Cooperative Federalism, Philip J. Weiser
Towards A Constitutional Architecture For Cooperative Federalism, Philip J. Weiser
Publications
In this Article, Professor Weiser calls for a new conception of federal-state relations to justify existing political practice under cooperative federalism regulatory programs. In particular, Professor Weiser highlights how Congress favors cooperative federalism programs--that combine federal and state authority in creative ways--and has rejected the dual federalism model of regulation--with separate spheres of state and federal authority that current judicial rhetoric often celebrates. Given the increasing dissonance between prevailing political practice and judicial rhetoric, courts will ultimately have to confront three fault lines for current cooperative federalism programs: the legal source of authority for state agencies to implement federal law, …
Sorting Out Federal And State Judicial Roles In State Insitutional Reform: Abstention's Potential Role, Charles R. Wise, Robert K. Christensen
Sorting Out Federal And State Judicial Roles In State Insitutional Reform: Abstention's Potential Role, Charles R. Wise, Robert K. Christensen
Fordham Urban Law Journal
The U.S. Supreme Court has given federal courts the authority to abstain from hearing certain cases and defer to state courts in some cases where constitutional or federal statutory rights have been violated. This piece attempts to clarify the abstention requirements and provide a clear rationale for the doctrine. Part I of this piece discusses the origin and development of the abstention doctrine, focusing specifically on the Burford abstention, a kind of abstention particularly salient to institutional reform cases. Part I also illustrates the inconsistencies inherent in the application of the abstention doctrine in its current form. Parts II and …