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Stuck Between A Fiduciary Rock And A Prudential Hard Place: The Eighth Circuit’S Approach To Erisa’S Duty Of Prudence, Nicholas J. Whitten 2022 Boston College Law School

Stuck Between A Fiduciary Rock And A Prudential Hard Place: The Eighth Circuit’S Approach To Erisa’S Duty Of Prudence, Nicholas J. Whitten

Boston College Law Review

On July 27, 2020, in Allen v. Wells Fargo & Co., the U.S. Court of Appeals for the Eighth Circuit held that plaintiffs who bring an imprudence claim under the Employment Retirement Income Security Act against a fiduciary of an employee stock ownership plan (ESOP) alleging that the fiduciary failed to act on negative inside information do not meet their pleading burden. In doing so, the Eighth Circuit agreed with three other federal circuit courts that an imprudence claim predicated on an ESOP fiduciary’s failure to disclose negative information is insufficient to survive a motion to dismiss. Only the ...


Is Bitcoin Prudent? Is Art Diversified? Offering Alternative Investments To 401(K) Participants, Edward A. Zelinsky 2022 University of Connecticut

Is Bitcoin Prudent? Is Art Diversified? Offering Alternative Investments To 401(K) Participants, Edward A. Zelinsky

Connecticut Law Review

Whether 401(k) plans’ investment menus should feature “alternative” investments is a fact-driven inquiry applying ERISA’s fiduciary standards of prudence, loyalty, and diversification. Central to this fact-driven inquiry is whether the alternative investment class in question is broadly accepted by investors in general and by professional defined benefit trustees in particular. A similarly salient concern when making this inquiry is the financial unsophistication of many, perhaps most, 401(k) participants. Accounting for these considerations, this Article concludes that REITs, private equity funds, and hedge funds can, with limits, today be offered as investment choices to 401(k) participants, but ...


Legal Age, Alexander A. Boni-Saenz 2022 Chicago-Kent College of Law

Legal Age, Alexander A. Boni-Saenz

Boston College Law Review

How old are you? This deceptively simple question has a clear answer in the law, which is a number measuring the amount of time that has elapsed since birth. However, as scientists discover various biomarkers of human aging and individuals openly embrace more fluid identities, this chronological definition will soon have to compete with biological and subjective alternatives. Legal scholars have previously examined the role of age in the legal system, but they have done so assuming a chronological definition. This is the first Article to examine critically the antecedent question of how we should define legal age after one ...


Federally Mandated Online Sales Tax: A Logistical Solution For The Future Of E-Commerce, Daniel O'Connor 2022 Depaul University College of Law

Federally Mandated Online Sales Tax: A Logistical Solution For The Future Of E-Commerce, Daniel O'Connor

DePaul Business and Commercial Law Journal

No abstract provided.


Economic Structural Transformation And Litigation: Evidence From Chinese Provinces, To Economic Change And Restructuring, Doug Bujakowski, Joan Schmit 2022 Drake University Law School

Economic Structural Transformation And Litigation: Evidence From Chinese Provinces, To Economic Change And Restructuring, Doug Bujakowski, Joan Schmit

DePaul Business and Commercial Law Journal

No abstract provided.


The "Business Interruption" Insurance Coverage Conundrum: Covid-19 Presents A Challenge, Paul E. Traynor 2022 University of North Dakota School of Law

The "Business Interruption" Insurance Coverage Conundrum: Covid-19 Presents A Challenge, Paul E. Traynor

DePaul Business and Commercial Law Journal

No abstract provided.


Misalighned Incentives In Markets: Envisioning Finance That Benefits All Of Society, Dr. Ryan Clements 2022 University of Calgary

Misalighned Incentives In Markets: Envisioning Finance That Benefits All Of Society, Dr. Ryan Clements

DePaul Business and Commercial Law Journal

No abstract provided.


Monsanto: Creator Of Cancer Liability, 2022 DePaul University

Monsanto: Creator Of Cancer Liability

DePaul Business and Commercial Law Journal

No abstract provided.


Impact Of Corporate Response To Controversial Presidential Statements Or Policies, 2022 DePaul University

Impact Of Corporate Response To Controversial Presidential Statements Or Policies

DePaul Business and Commercial Law Journal

No abstract provided.


Dividing The Plausible Sheep From The Meritless Goats: The Fate Of Stock Drop Litigation, 29 Elder L.J. 393 (2022), Kathryn J. Kennedy 2022 UIC School of Law

Dividing The Plausible Sheep From The Meritless Goats: The Fate Of Stock Drop Litigation, 29 Elder L.J. 393 (2022), Kathryn J. Kennedy

UIC Law Open Access Faculty Scholarship

The Employee Retirement Income Security Act of 1974 (“ERISA”) provides federal oversight over employee benefit plans, specifically employee stock ownership plans (“ESOPs”) in which participants' and beneficiaries' retirement savings are in the form of employer stock. It imposes stringent fiduciary duties, especially for individuals or entities that purchase, hold, and sell plan assets, including the duties of prudence, loyalty, and diversification of plan assets. In encouraging the formation of ESOPs, Congress exempts them from the fiduciary duty of diversification and the fiduciary duty of prudence to the extent it requires diversification. As the value of publicly traded employer stock held ...


An Attempt To Bring Modern Workplace Realities To The Social Security Disability Adjudication System, Robert E. Rains 2022 Penn State Dickinson Law

An Attempt To Bring Modern Workplace Realities To The Social Security Disability Adjudication System, Robert E. Rains

Dickinson Law Review

No abstract provided.


Retirement Lost: Enhancing The Durability Of The 401(K) Account, Anna-Marie Tabor 2022 University of Massachusetts Boston; University of Massachusetts Law School

Retirement Lost: Enhancing The Durability Of The 401(K) Account, Anna-Marie Tabor

Dickinson Law Review

American workers have left billions of dollars in 401(k) accounts that they may never be able to find. The problem affects low-wage workers the most, aggravating income-based retirement inequality. Workers who are laid off or change jobs often leave their 401(k) savings in a former employer’s plan. As time passes, communication breaks down between departed employees and their plans, and changes to the employer, plan provider, or individual accounts may prevent the worker from finding the account. Once participants and plans have lost contact with each other, many plans force transfer balances under $5000 into Individual Retirement ...


“Professional” Employers And The Transformation Of Workplace Benefits, Natalya Shnitser 2021 Boston College Law School

“Professional” Employers And The Transformation Of Workplace Benefits, Natalya Shnitser

Boston College Law School Faculty Papers

Workers in the United States depend on their employers for a host of benefits beyond wages and salary. From retirement benefits to health insurance, from student loan repayment to dependent-care spending plans, from disability benefits to family and medical leave, U.S. employers play a uniquely central role in the financial lives of their employees. Yet not all employers are equally willing or capable of serving as such financial intermediaries. Larger employers commonly offer more and better benefits than smaller employers. In recent years, so-called Professional Employer Organizations (PEOs) have pitched themselves as a private-sector solution to the challenges traditionally ...


Do Esg Mutual Funds Deliver On Their Promises?, Quinn Curtis, Jill E. Fisch, Adriana Z. Robertson 2021 University of Virginia

Do Esg Mutual Funds Deliver On Their Promises?, Quinn Curtis, Jill E. Fisch, Adriana Z. Robertson

Faculty Scholarship at Penn Law

Corporations have received growing criticism for their role in climate change, perpetuating racial and gender inequality, and other pressing social issues. In response to these concerns, shareholders are increasingly focusing on environmental, social, and corporate governance (ESG) criteria in selecting investments, and asset managers are responding by offering a growing number of ESG mutual funds. The flow of assets into ESG is one of the most dramatic trends in asset management.

But are these funds giving investors what they promise? This question has attracted the attention of regulators, with the Department of Labor and the Securities and Exchange Commission (SEC ...


Kissing The Security Blanket Goodbye: How The Secure Act Will Affect Ira Beneficiaries’ Long-Term Financial Security, Cassidy J. Seamon 2021 Boston College Law School

Kissing The Security Blanket Goodbye: How The Secure Act Will Affect Ira Beneficiaries’ Long-Term Financial Security, Cassidy J. Seamon

Boston College Law Review

The Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) offers many forms of new support for retirement savings to help more Americans better prepare for their retirement. It also includes a provision that eliminates the stretch payout option for the beneficiaries of inherited individual retirement arrangements (IRAs). Prior to the SECURE Act, beneficiaries of inherited IRAs were able to capitalize on the tax-deferred savings vehicles for the remainder of their lifetimes. After the SECURE Act, the period of tax-deferred investment for beneficiaries was limited to ten years. In eliminating the stretch payout option, Congress opted for a ...


Erisa Defined Benefit Plans Are Not "Trust"Worthy, Stewart E. Sterk 2021 William & Mary Law School

Erisa Defined Benefit Plans Are Not "Trust"Worthy, Stewart E. Sterk

William & Mary Law Review Online

What role does the common law of trusts play in policing investment decisions made in the context of a defined-benefit retirement plan governed by ERISA? That issue, among others, divided the Supreme Court this past term in Thole v. U.S. Bank N.A. The Court’s majority decided the case by holding that plan beneficiaries had no Article III standing to challenge allegedly self-interested investment decisions made by the plan’s sponsor and administrator. Because the Court grounded its decision in constitutional standing, Congress would be powerless to confer standing on plan beneficiaries without also amending the substantive rights ...


Table Of Contents, Seattle University Law Review 2021 Seattle University School of Law

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents and Special Thanks.


Table Of Contents, Seattle University Law Review 2021 Seattle University School of Law

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents


Clashing Canons And The Contract Clause, T. Leigh Anenson, Jennifer K. Gershberg 2021 University of Maryland

Clashing Canons And The Contract Clause, T. Leigh Anenson, Jennifer K. Gershberg

University of Michigan Journal of Law Reform

This Article is the first in-depth examination of substantive canons that judges use to interpret public pension legislation under the Contract Clause of the U.S. Constitution and state constitutions. The resolution of constitutional controversies concerning pension reform will have a profound influence on government employment. The assessment begins with a general discussion of these interpretive techniques before turning to their operation in public pension litigation. It concentrates on three clashing canons: the remedial (purpose) canon, the “no contract” canon (otherwise known as the unmistakability doctrine), and the constitutional avoidance canon. For these three canons routinely employed in pension law ...


God’S (Pension) Plan: Erisa Church Plan Litigation In The Aftermath Of Advocate Health Care Network V. Stapleton, Rebecca Miller 2020 Boston College Law School

God’S (Pension) Plan: Erisa Church Plan Litigation In The Aftermath Of Advocate Health Care Network V. Stapleton, Rebecca Miller

Boston College Law Review

The Employee Retirement Income Security Act of 1974 (ERISA) protects the pensions of American workers by placing vesting, funding, and fiduciary obligations on plan sponsors. “Church plans” established and maintained by church organizations, however, are exempt from the provisions of ERISA to avoid entanglement between church and state. After the enactment of ERISA and its church plan exemption, federal agencies and courts long-debated which pension plans qualified as church plans, culminating in the 2017 U.S. Supreme Court decision in Advocate Health Care Network v. Stapleton. In Stapleton, the Supreme Court adopted a broad interpretation of a church plan, under ...


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