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“Let Them Eat Cake”: Examining United States Retirement Savings Policy Through The Lens Of International Human Rights Principles, Regina T. Jefferson
“Let Them Eat Cake”: Examining United States Retirement Savings Policy Through The Lens Of International Human Rights Principles, Regina T. Jefferson
Scholarly Articles
This article uses an international human rights framework to analyze and critique the effectiveness of the United States' retirement system and its underlying policies. The article challenges the ongoing pension reform debate to include considerations outside traditional economic theory, such as income inequality, the dignity of the elderly, and the irreducible mutuality of people. While a human rights analysis will not yield a precise policy prescription for the retirement savings crisis, it will serve as an additional framework within which the government's economic and social policies regarding the treatment of the elderly can be evaluated, expanding the focus and range …
Increasing Coverage In Today’S Private Retirement System, Regina T. Jefferson
Increasing Coverage In Today’S Private Retirement System, Regina T. Jefferson
Scholarly Articles
Part I of this Reflection describes and critiques the effective-ness of the existing nondiscrimination standards for encouraging in-creased coverage in the private retirement system. Part II examines current trends with respect to various segments of the working population and concludes that existing pension law and policies are providing inadequate retirement benefits to low- and middle-income workers participating in 401(k) plans. Part III proposes the following three recommendations for increasing participation rates in the current pension climate: (1) mandatory education programs for all 401(k) plans; (2) mandatory automatic features in 401(k) plans; and (3) an additional tax incentive to encourage greater …
Privatization: Not The Answer For Social Security Reform, Regina T. Jefferson
Privatization: Not The Answer For Social Security Reform, Regina T. Jefferson
Scholarly Articles
This Article analyzes the impact of privatization on the existing Social Security program. Part I describes the structure and status of the current Social Security program Part II describes the principal elements of Social Security reform proposals. Part III critiques the private retirement system and its reliance on individual accounts as primary retirement savings vehicles, and demonstrates why this model is inappropriate as a replacement for the existing Social Security program. Part IV explores the impact of privatization on the public welfare function of Social Security and examines some of the weaknesses in many of the privatization proposals. The Article …
Medical Savings Accounts: Windfalls For The Healthy, Wealthy, And Wise, Regina T. Jefferson
Medical Savings Accounts: Windfalls For The Healthy, Wealthy, And Wise, Regina T. Jefferson
Scholarly Articles
This article analyzes the Medical Savings Account (MSA) program, and critiques its impact on the retirement and health care systems. The MSA program is an experimental health care program created by The Health Insurance Portability and Accountability Act of 1996. The program allows a limited number of small employers and self-employed individuals to establish MSAs during an experimental period. MSA funds may be used for medical expenses, or carried forward and accumulated tax-free as retirement savings. The underlying purpose of the MSA program is to reduce the cost of medical care by providing consumers greater incentives to be sensitive to …
A Farewell To Pension Policy: The Impact Of Flexible Iras On Current Tax Policy, Regina T. Jefferson
A Farewell To Pension Policy: The Impact Of Flexible Iras On Current Tax Policy, Regina T. Jefferson
Scholarly Articles
This Article describes and critiques the objectives of the American Dream Savings Account. This Article then analyzes the potential social and economic effects of accomplishing the identified goals of the ADSA. Finally, this Article will conclude that the shift in pension policy made manifest by the ADSA, and other similar savings proposals, has potentially dramatic implications for future retirement savings among middle- and low-income Americans.
Defined Benefit Plan Funding: How Much Is Too Much?, Regina T. Jefferson
Defined Benefit Plan Funding: How Much Is Too Much?, Regina T. Jefferson
Scholarly Articles
Ideally, the role of policymakers is to make laws which effectuate change consistent with public interest. However, in order for policy makers to meet this demand, it is necessary for them to identify distinct issues and their respective causes and long term effects. In furtherance of this goal, as it relates to the issue of accelerated funding of qualified defined benefit plans, this Article will address the following questions: (1) whether it is practical to separate the concept of accelerated funding from impending plan termination, (2) whether the removal of excess assets from terminating plans can be deterred in ways …