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Rethinking Erisa's Promise Of Income Security In A World Of 401(K) Plans, Lawrence A. Frolik
Rethinking Erisa's Promise Of Income Security In A World Of 401(K) Plans, Lawrence A. Frolik
Articles
This article discusses the evolution of retirement income funds from defined benefit packages to 401(k) and IRA accounts and how the changing dynamic has reshaped the way retirees think about post-retirement income. The article outlines the mechanics of 401(k) accounts and rollover IRAs in the post-retirement period and presents questions about the ability of retirees to successfully address the complex issues relating to investment choices including, what entity they entrust their savings to, the volume and source of distributions, and long-term sufficiency planning. The article suggests that an increase in the use of annuities may help to resolve some of …
Kite: Irs Wins Qtip Battle But Loses Annuity War, Kerry A. Ryan
Kite: Irs Wins Qtip Battle But Loses Annuity War, Kerry A. Ryan
All Faculty Scholarship
In Kite, the Tax Court held that a 10-year deferred annuity constituted adequate and full consideration for a transfer of family partnership interests, even though the transferor died before receiving any payments. The court also held that the liquidation of a qualified terminable interest property trust and subsequent sale of its assets constituted a disposition of the qualifying income interest for life, resulting in a deemed transfer of the entire trust under section 2519. Ryan discusses those holdings and two more issues that were not raised in the Tax Court proceeding but are clearly implicated by the Kite facts.