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Retirement Security Law Commons

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Full-Text Articles in Retirement Security Law

Table Of Contents, Seattle University Law Review Sep 2019

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.


Table Of Contents, Seattle University Law Review Feb 2019

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.


Defined Contribution Plans And The Challenge Of Financial Illiteracy, Jill E. Fisch, Annamaria Lusardi, Andrea Hasler Feb 2019

Defined Contribution Plans And The Challenge Of Financial Illiteracy, Jill E. Fisch, Annamaria Lusardi, Andrea Hasler

Faculty Scholarship at Penn Law

Retirement investing in the United States has changed dramatically. The classic defined-benefit (DB) plan has largely been replaced by the defined contribution (DC) plan. With the latter, individual employees’ decisions about how much to save for retirement and how to invest those savings determine the benefits available upon retirement.

We analyze data from the 2015 National Financial Capability Study to show that people whose only exposure to investment decisions is by virtue of their participation in an employer-sponsored 401(k) plan are poorly equipped to make sound investment decisions. Specifically, they suffer from higher levels of financial illiteracy than other ...


Behavioral Finance, Decumulation And The Regulatory Strategy For Robo-Advice, Tom Baker, Benedict Dellaert Jul 2018

Behavioral Finance, Decumulation And The Regulatory Strategy For Robo-Advice, Tom Baker, Benedict Dellaert

Faculty Scholarship at Penn Law

This working paper surveys the decumulation services offered by investment robo-advisors as a case study with which to examine regulatory and market structure issues raised by automated financial advice. We provide a short introduction to decumulation, describing some of the uncertainties involved in identifying optimal decumulation strategies and sketching a few of the ‘rules of thumb’ that financial advisors have developed in this area in the face of this uncertainty. Next we describe behavioral effects that could inhibit consumers from following an optimal decumulation strategy, concluding that, left to their own devices, consumers are likely to make sub-optimal decumulation decisions ...


Promoting Retirement Security For Low-Income Workers In Illinois: An Analysis And Lessons For Other States, Philip C. Aka, Chidera V. Oku, Murna Habila Feb 2018

Promoting Retirement Security For Low-Income Workers In Illinois: An Analysis And Lessons For Other States, Philip C. Aka, Chidera V. Oku, Murna Habila

Akron Law Review

This Article makes suggestions for promoting retirement security among low-income workers in Illinois with pointed lessons for workers in other U.S. states. Adapting a framework from a previous study by the principal author, the Article portrays retirement preparedness for low-income workers in Illinois as a function of changes in Social Security, employer-sponsored pensions, and personal assets—the famed “three-legged stool” of retirement income—synchronized with reduction of disparities between socioeconomic groups in education, healthcare, and housing. Many studies on retirement security focus excessively on the national level sometimes at the expense of the subnational phenomena that complicate retirement security ...


Achieving American Retirement Prosperity By Changing Americans' Thinking About Retirement, Peter H. Huang Jan 2017

Achieving American Retirement Prosperity By Changing Americans' Thinking About Retirement, Peter H. Huang

Articles

There are many decisions that Americans have to make about retirement before, at, and after retirement. For example, Americans have to decide when to start saving for retirement, how much to save, how to invest those savings, when to retire, when to claim social security, and how to take required minimum distributions from 401(k) plans or Individual Retirement Accounts. Different things can go wrong at each of these decisions for different reasons. Many Americans, for various reasons, including insufficient energy, money, motivation, time, and understanding, do no retirement planning. Some Americans do some retirement planning, yet worry they are ...


The Knowledge Gap In Workplace Retirement Investing And The Role Of Professional Advisors, Jill E. Fisch, Tess Wilkinson-Ryan, Kristin Firth Jan 2016

The Knowledge Gap In Workplace Retirement Investing And The Role Of Professional Advisors, Jill E. Fisch, Tess Wilkinson-Ryan, Kristin Firth

Faculty Scholarship at Penn Law

The dramatic shift from traditional pension plans to participant-directed 401(k) plans has increased the decision-making responsibility of individual investors for their own retirement planning. With this shift comes increasing evidence that investors are making poor decisions in choosing how much to save for retirement and in selecting among their investment options. Studies question the value of efforts to improve these decisions through regulatory reforms or investor education.

This article posits that deficiencies in workplace retirement savings cannot be adequately addressed until the reasons for poor investment decisions are better understood. We report the results of a study designed to ...


What Is A Lien? Lessons From Municipal Bankruptcy, David A. Skeel Jr. Jan 2015

What Is A Lien? Lessons From Municipal Bankruptcy, David A. Skeel Jr.

Faculty Scholarship at Penn Law

From the outset of Detroit’s bankruptcy, an unlikely set of issues kept coming up: What exactly is a lien? Who has a property interest or its equivalent in bankruptcy? Did general obligation bondholders have special status, due to Detroit’s promise to use its “full faith and credit” for repayment? What about Detroit’s pension beneficiaries, who could point to a provision in the Michigan Constitution stating that accrued pension benefits cannot be diminished or impaired. In this Article, I explore these and related issues that have arisen in Detroit and other recent municipal bankruptcy cases.

Part I of ...


From Chrysler And General Motors To Detroit, David A. Skeel Jr. Jan 2015

From Chrysler And General Motors To Detroit, David A. Skeel Jr.

Faculty Scholarship at Penn Law

In the past five years, three of the most remarkable bankruptcy cases in American history have come out of Detroit: the bankruptcies of Chrysler and General Motors in 2009, and of Detroit itself in 2012. The principal objective of this Article is simply to show that the Grand Bargain at the heart of the Detroit bankruptcy is the direct offspring of the bankruptcy sale transactions that were used to restructure Chrysler and GM. The proponents of Detroit’s “Grand Bargain” never would have dreamed up the transaction were it not for the federal government-engineered carmaker bankruptcies. The Article’s second ...


Health Care Spending And Financial Security After The Affordable Care Act, Allison K. Hoffman Jan 2015

Health Care Spending And Financial Security After The Affordable Care Act, Allison K. Hoffman

Faculty Scholarship at Penn Law

Health insurance has fallen notoriously short of protecting Americans from financial insecurity caused by health care spending. The Patient Protection and Affordable Care Act (“ACA”) attempted to ameliorate this shortcoming by regulating health insurance. The ACA offers a new policy vision of how health insurance will (and perhaps should) serve to promote financial security in the face of health care spending. Yet, the ACA’s policy vision applies differently among insured, based on the type of insurance they have, resulting in inconsistent types and levels of financial protection among Americans.

To examine this picture of inconsistent financial protection, this Article ...


Broker-Dealers And Investment Advisers: A Behaviorial-Economics Analysis Of Competing Suggestions For Reform, Polina Demina Dec 2014

Broker-Dealers And Investment Advisers: A Behaviorial-Economics Analysis Of Competing Suggestions For Reform, Polina Demina

Michigan Law Review

For the average investor trying to save for retirement or a child’s college fund, the world of investing has become increasingly complex. These retail investors must turn more frequently to financial intermediaries, such as broker-dealers and investment advisers, to get sound investment advice. Such intermediaries perform different duties for their clients, however. The investment adviser owes his client a fiduciary duty of care and therefore must provide financial advice that is in the client’s best interests, while the broker-dealer must merely provide advice that is suitable to the client’s interests—a lower standard than the fiduciary duty ...


Are Defined Contribution Pension Plans Fit For Purpose In Retirement?, Jeremy R. Cooper Mar 2014

Are Defined Contribution Pension Plans Fit For Purpose In Retirement?, Jeremy R. Cooper

Seattle University Law Review

This Article considers the historical basis for the shift from defined benefit plans to defined contribution plans, the structural and practical shortcomings of defined contribution plans, alternate pension models, and adjustments to existing retirement plan models that may offer a degree of protection to plan contributors. Like the United States, Australia is now realizing the limitations of a defined contribution retirement system insofar as it relates the provision of reliable retirement income for a population with increasing life expectancy. Unlike defined contribution plans, defined benefit plans provide a benefit based typically on time served and a predetermined proportion of either ...


La Pensión Familiar En Colombia: ¿Una Solución Al Déficit Pensional Colombiano?, Fernando Castillo Cadena, Ana María Muñoz Segura Jan 2014

La Pensión Familiar En Colombia: ¿Una Solución Al Déficit Pensional Colombiano?, Fernando Castillo Cadena, Ana María Muñoz Segura

Fernando Castillo Cadena

Colombia enacted the “family old-age pension” through Law 1580/12. This pension is not one of exceptional type, which is granted to certain beneficiaries: it is one that tries to expand the coverage of the pension system in a novel way. Thus, the right to a pension no longer will be a product of regular contributions or savings made on an individual basis, but one that will correspond to the sum of efforts made by the couple that makes up a family group. So, in the event that an affiliate not eligible to obtain an old-age pension on an individual ...


Why Do Retail Investors Make Costly Mistakes? An Experiment On Mutual Fund Choice, Jill E. Fisch, Tess Wilkinson-Ryan Jan 2014

Why Do Retail Investors Make Costly Mistakes? An Experiment On Mutual Fund Choice, Jill E. Fisch, Tess Wilkinson-Ryan

Faculty Scholarship at Penn Law

There is mounting evidence that retail investors make predictable, costly investment mistakes, including underinvestment, naïve diversification, and payment of excessive fund fees. Over the past thirty-five years, however, participant-directed 401(k) plans have largely replaced professionally managed pension plans, requiring unsophisticated retail investors to navigate the financial markets themselves. Policy-makers have struggled with regulatory interventions designed to improve the quality of investment decisions without a clear understanding of the reasons for investor mistakes. Absent such an understanding, it is difficult to design effective regulatory responses.

This article offers a first step in understanding the investor decision-making process. We use an ...


La Transparencia En La Protección De Datos Personales, Bruno L. Costantini García May 2012

La Transparencia En La Protección De Datos Personales, Bruno L. Costantini García

Bruno L. Costantini García

La Transparencia en la Protección de Datos Personales, ponencia elaborada dentro de los trabajos del VII Congreso Nacional de Organismos Públicos Autónomos (OPAM)


Aspectos Generales Dela Publicidad En México. "La Publicidad De Productos, Servicios, Y Actividades Reguladas Por La Ley General De Salud", Bruno L. Costantini García Feb 2012

Aspectos Generales Dela Publicidad En México. "La Publicidad De Productos, Servicios, Y Actividades Reguladas Por La Ley General De Salud", Bruno L. Costantini García

Bruno L. Costantini García

Introducción a las generalidades de la regulación en materia de publicidad de insumos para el consumo humano (salud) en México.


Noción Y Elementos Existenciales Del Título De Crédito, Bruno L. Costantini García Oct 2011

Noción Y Elementos Existenciales Del Título De Crédito, Bruno L. Costantini García

Bruno L. Costantini García

Discernir la noción y elementos de existencia de los títulos de crédito, considerando la doctrina y la denominación expresada en nuestra Ley General de Títulos y Operaciones de Crédito, conceptualizando el término de los documentos que consignan un derecho crediticio propio de su naturaleza y deslindando de manera dogmatica y exegética los elementos que lo forman y le dan su funcionamiento, mediante una visión de las instituciones jurídicas que les dan su existencia y aplicación dentro del devenir de los actos de comercio.


Generalidades De La Propiedad Intelectual En México, Bruno L. Costantini García Sep 2011

Generalidades De La Propiedad Intelectual En México, Bruno L. Costantini García

Bruno L. Costantini García

Presentación de las Generalidades de la Propiedad Intelectual en México (Propiedad Industrial y Derechos de Autor), legislación que la rige, aplicación y modalidades


La Jurisprudencia En México, Bruno L. Costantini García Aug 2011

La Jurisprudencia En México, Bruno L. Costantini García

Bruno L. Costantini García

Breve presentación de la jurisprudencia en México, su aplicación, objetivos y fines para el Derecho Mexicano. ¿Por qué es util para el derecho? ¿Quién la emite?


Notariado Y Correduria Y Su Registro En México, Bruno L. Costantini García Aug 2011

Notariado Y Correduria Y Su Registro En México, Bruno L. Costantini García

Bruno L. Costantini García

Introducción al Derecho Notarial y Registral en México, cuyo objeto es conocer los elementos de las figuras del notario y del corredor público, la formalización de sus actos y su registro.


Combating Moral Hazard: The Case For Rationalizing Public Employee Benefits, Maria Hylton Aug 2011

Combating Moral Hazard: The Case For Rationalizing Public Employee Benefits, Maria Hylton

Faculty Scholarship

The current crisis in public employee benefits is a fairly conventional moral hazard story about overly generous promises made by both private sector employers and politicians spending public dollars. The private sector, forced by the Financial Accounting Standards Board (FASB) in 1993 to confront the true cost of promises made to future retirees, dealt with the newly discovered debt in a number of ways, including the termination of defined benefit plans which were quickly replaced by defined contribution plans. The public sector was also forced to confront its own largesse with the implementation of GASB 45 which focused careful attention ...


El Derecho De Sucesiones Se Debe Atemperar A Los Cambios De La Sociedad Del Siglo Xxi, Edward Ivan Cueva Feb 2011

El Derecho De Sucesiones Se Debe Atemperar A Los Cambios De La Sociedad Del Siglo Xxi, Edward Ivan Cueva

Edward Ivan Cueva

No abstract provided.


Uso Social Del Suelo Ejidal Y Comunal Para El Desarrollo Equilibrado De Las Áreas Urbanas Del Estado De Puebla, Bruno L. Costantini García Nov 2010

Uso Social Del Suelo Ejidal Y Comunal Para El Desarrollo Equilibrado De Las Áreas Urbanas Del Estado De Puebla, Bruno L. Costantini García

Bruno L. Costantini García

De origen, difundir los diversos esquemas permitidos por la Ley para posibilitar la realización de proyectos con fines inmobiliarios, a efecto de que los núcleos agrarios y sus integrantes se beneficien equitativamente de la urbanización de sus tierras, coadyuvando con ello al desarrollo urbano planificado y ordenado de los centros de población del Estado de Puebla; como consecuencia, impulsar el desarrollo habitacional equilibrado de éste. Eliminar el circulo.- “necesidad de tierra – asentamiento irregular – solución de conflicto”, mediante la planeación socioeconómico de los núcleos agrarios ejidales y comunales, a fin de diseñar un mecanismo eficaz que satisfaga las necesidades de los ...


Delimitación Téorica Del Delito Penal Fiscal, Bruno L. Costantini García Jul 2010

Delimitación Téorica Del Delito Penal Fiscal, Bruno L. Costantini García

Bruno L. Costantini García

Anális de los elementos constitutivos del delito fiscal, la acción delictiva, los grados de ejecución, la consumación y los responsables.

Pretende distinguir el delito penal común del delito penal fiscal con base en sus elementos y pretende aportar una reflexión de la criminalización del delito fiscal en nuestros tiempos, usado por la Autoridad Hacendaria como un medio de represíón y de opresión de los derechos del contribuyente.


La Globalización De La Legislación Cambiaria, Bruno L. Costantini García Jun 2010

La Globalización De La Legislación Cambiaria, Bruno L. Costantini García

Bruno L. Costantini García

No abstract provided.


Protección De Datos Personales, Bruno L. Costantini García, Norma E. Pimentel Méndez Apr 2010

Protección De Datos Personales, Bruno L. Costantini García, Norma E. Pimentel Méndez

Bruno L. Costantini García

Introducción a la regulación de la protección de datos personales en México.


Derecho De La Seguridad Social En México, Bruno L. Costantini García Feb 2010

Derecho De La Seguridad Social En México, Bruno L. Costantini García

Bruno L. Costantini García

Breve presentación del Derecho de la Segurida Social en México.

¿Qué es?

¿Cómo funciona?

¿Su aplicación?


Cuarto Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García Jun 2009

Cuarto Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García

Bruno L. Costantini García

Memorias del Cuarto Congreso Nacional de Organismos Públicos Autónomos

"El papel de los Organismos Públicos Autónomos en la Consolidación de la Democracia"


Funding Public Pension Plans, 42 J. Marshall L. Rev. 837 (2009), Jonathan Barry Forman Jan 2009

Funding Public Pension Plans, 42 J. Marshall L. Rev. 837 (2009), Jonathan Barry Forman

The John Marshall Law Review

No abstract provided.


Vebas To The Rescue: Evaluating One Alternative For Public Sector Retiree Health Benefits, 42 J. Marshall L. Rev. 879 (2009), Susan E. Cancelosi Jan 2009

Vebas To The Rescue: Evaluating One Alternative For Public Sector Retiree Health Benefits, 42 J. Marshall L. Rev. 879 (2009), Susan E. Cancelosi

The John Marshall Law Review

No abstract provided.