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Full-Text Articles in Law
Pension De-Risking, Brendan Maher
Pension De-Risking, Brendan Maher
Faculty Articles and Papers
The United States is facing a retirement crisis, in significant part because defined benefit pension plans have been replaced by defined contribution retirement plans that, whatever their theoretical merit, have left significant numbers of workers unprepared for retirement. A troubling example of the continuing movement away from defined benefit plans is a new phenomenon euphemistically called “pension de-risking.” Recent years have been marked by high-profile companies engaging in various actions designed to reduce the company’s exposure to pension funding risk (hence the term “pension de-risking”). Some de-risking strategies convert a federally-guaranteed pension into a more risky private annuity. Other approaches …
Incentives And Ideology, James Kwak
Incentives And Ideology, James Kwak
Faculty Articles and Papers
This is a response to Adam Levitin's article, The Politics of Financial Regulation and the Regulation of Financial Politics: A Review Essay, 127 Harv. L. Rev. 1991 (2014). Levitin discusses various reasons for regulatory capture and highlights several potential solutions that aim to change the political governance of financial regulation. In this response, I highlight the importance of ideology (in this case, the ideology of free financial markets) in producing regulatory outcomes that are good for industry, and therefore the need for solutions that mitigate ideological capture.
Improving Retirement Savings Options For Employees, James Kwak
Improving Retirement Savings Options For Employees, James Kwak
Faculty Articles and Papers
Americans do not save enough for retirement. One reason is that our retirement savings accounts — whether employer-sponsored defined-contribution plans such as 401(k) plans or individual retirement accounts — are heavily invested in actively managed mutual funds that siphon off tens of billions of dollars in fees every year yet deliver returns that trail the overall market. Under existing law, as interpreted by the courts, mutual funds may charge high fees to investors, and companies may offer expensive, active funds to their employees. This paper argues that the Employee Retirement Income Security Act should be reinterpreted, in light of basic …
Breaking On Through To The Other Side: Understanding Continental European Corporate Governance, Ángel Oquendo
Breaking On Through To The Other Side: Understanding Continental European Corporate Governance, Ángel Oquendo
Faculty Articles and Papers
No abstract provided.
Check Fraud Litigation In Connecticut After The 1990 Revisions To The U.C.C., Timothy Fisher
Check Fraud Litigation In Connecticut After The 1990 Revisions To The U.C.C., Timothy Fisher
Faculty Articles and Papers
No abstract provided.
1991 Revisions To Articles 3 And 4 Of The Uniform Commercial Code, Timothy Fisher
1991 Revisions To Articles 3 And 4 Of The Uniform Commercial Code, Timothy Fisher
Faculty Articles and Papers
No abstract provided.