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Retirement In The Land Of Lincoln: The Illinois Secure Choice Savings Program Act, Edward A. Zelinsky
Retirement In The Land Of Lincoln: The Illinois Secure Choice Savings Program Act, Edward A. Zelinsky
Articles
In 2015, Illinois became the first state to enact a state-mandated and state-operated retirement system for private sector employers: The Illinois Secure Choice Savings Program Act. The Illinois program resembles a system approved by the California legislature—a system that has not yet been enacted since it is conditioned on an additional vote by the legislature. Illinois’ program and the one proposed in California have notable differences in that (1) the Illinois retirement accounts will qualify as individual retirement accounts (“IRAs”) under the Internal Revenue Code (“Code”); (2) the Illinois IRAs will be Roth IRAs; (3) the California program requires participation …
Innovation, The State And Private Enterprise: A Corporate Lawyer's Perspective, Charles M. Yablon
Innovation, The State And Private Enterprise: A Corporate Lawyer's Perspective, Charles M. Yablon
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This is a review essay based on an important recent book, The Entrepreneurial State: Debunking Public vs. Private Sector Myths, by Mariana Mazzucato, a Professor of the Economics of Innovation. In that book, Professor Mazzucato explains how the U.S. Government, acting as an “entrepreneurial state” has made the critical investments in technologies that have given rise to multi-billion dollar new industries. Mazzucato argues that only the State currently has the funds and incentives necessary to finance the earliest and most important phases of the innovation process, investments the private sector cannot and will not make. Mazzucato’s defense of the centrality …