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Retirement Security Law Commons

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Richard Kilgore V. Eleni Kilgore, 135 Nev. Adv. Op. 47 (Oct. 3, 2019), Aariel Williams 2019 University of Nevada, Las Vegas -- William S. Boyd School of Law

Richard Kilgore V. Eleni Kilgore, 135 Nev. Adv. Op. 47 (Oct. 3, 2019), Aariel Williams

Nevada Supreme Court Summaries

NRS 286.510 provides that the eligibility depends on an employee spouse’s effective date of membership in Nevada Public Employees’ Retirement System (“PERS”), profession, number of years served, and age. The Court determined that the time does not depend on whether the employee spouse’s PERS account has fully matured. NRS 125.155 provides district courts with discretion to deny or reduce a non-employee spouse’s request for pension payments before the employee spouse’s retirement. Further, under NRS 125.150(3), a party can seek adjudication of an asset mistakenly omitted from the divorce decree within three years ...


Regulating Retirement: Understanding The Impact Of New Best Interest And Fiduciary Standards On Retail Investors, Michael Lichtmacher 2019 St. Mary's University School of Law

Regulating Retirement: Understanding The Impact Of New Best Interest And Fiduciary Standards On Retail Investors, Michael Lichtmacher

St. Mary's Law Journal

Abstract forthcoming


Table Of Contents, Seattle University Law Review 2019 Seattle University School of Law

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.


For Richer Or Poorer, 'Til Decree Do Us Part - A Spouse's Entitlement To Division Of Pension Funds And Professional Degrees As Marital Property, Linda A. Malone 2019 William & Mary Law School

For Richer Or Poorer, 'Til Decree Do Us Part - A Spouse's Entitlement To Division Of Pension Funds And Professional Degrees As Marital Property, Linda A. Malone

Linda A. Malone

No abstract provided.


Settlements And Waivers Affecting Pension Benefits Under Erisa, Eric D. Chason 2019 William & Mary Law School

Settlements And Waivers Affecting Pension Benefits Under Erisa, Eric D. Chason

Eric D. Chason

Waivers affecting pension benefits may be entered into as part of a controversy (for example, a settlement agreement) or in isolation (for example, a disclaimer). Under current law, however, it is unclear how these waivers fit within the protections of ERISA, particularly the antialienation rule. Courts have generally honored settlement agreements so long as they are procedurally fair to participants. However, the antialienation rule looms in the background. The IRS and Treasury, in contrast, have focused on waivers outside the settlement context, prohibiting participants from making them but allowing beneficiaries to do so if the waiver satisfies gift-tax rules for ...


Outlawing Pension-Funding Shortfalls, Eric D. Chason 2019 William & Mary Law School

Outlawing Pension-Funding Shortfalls, Eric D. Chason

Eric D. Chason

Before ERISA, employees faced a large risk that their employers would default or renege on pension obligations. By creating a federal guarantor of pensions (the PBGC), ERISA has greatly reduced this risk. All else being equal, low-risk pensions are worth more to employees but cost more to provide. Congress has never had a coherent policy on who should pay for these extra costs. Moreover, legal scholars have failed to create a theoretical framework for dealing with these costs, focusing instead on the supposed "moral hazard" that the PBGC guaranty creates. This Article inserts itself into the scholarly vacuum, asserting that ...


Redressing All Erisa Fiduciary Breaches Under Section 409 (A), Eric D. Chason 2019 William & Mary Law School

Redressing All Erisa Fiduciary Breaches Under Section 409 (A), Eric D. Chason

Eric D. Chason

No abstract provided.


Reforming Pensions While Retaining Shareholder Voice, David Webber 2019 Boston Univeristy School of Law

Reforming Pensions While Retaining Shareholder Voice, David Webber

Faculty Scholarship

Public pension and labor union funds have been the driving force in diversified shareholder activism. They have also fended off attacks on jobs and proactively created jobs for fund contributors. These funds currently represent almost $4 trillion in assets over which workers have substantial control. That worker control - and the collective nature of defined benefit pension plans - is the necessary precondition for their shareholder activism. Both worker control and collective investment are directly threatened by the rise of defined contribution funds, particularly by well-funded efforts to promote the 401(k) in the public sector, the last bastion of the traditional ...


Energy Re-Investment, Hari M. Osofsky, Jacqueline Peel, Brett H. McDonnell, Anita Foerster 2019 The Pennsylvania State University

Energy Re-Investment, Hari M. Osofsky, Jacqueline Peel, Brett H. Mcdonnell, Anita Foerster

Indiana Law Journal

Despite worsening climate change threats, investment in energy—in the United States and globally—is dominated by fossil fuels. This Article provides a novel analysis of two pathways in corporate and securities law that together have the potential to shift patterns of energy investment.

The first pathway targets current investments and corporate decision-making. It includes efforts to influence investors to divest from owning shares in fossil fuel companies and to influence companies to address climate change risks in their internal decision-making processes. This pathway has received increasing attention, especially in light of the Paris Agreement and the Trump Administration’s ...


Table Of Contents, Seattle University Law Review 2019 Seattle University School of Law

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 2019 University of Pennsylvania Law School

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 ...


State Automatic Enrollment Iras After The Trump Election: Are They Preempted By Erisa?, Kathryn L. Moore 2019 University of Kentucky

State Automatic Enrollment Iras After The Trump Election: Are They Preempted By Erisa?, Kathryn L. Moore

Law Faculty Scholarly Articles

In recent years, a number of states have sought to close the retirement savings funding gap by enacting legislation mandating that employers that do not sponsor a voluntary pension plan for their employees automatically enroll their employees in a state-administered IRA program. This Article focuses on the most serious legal challenge these programs face: ERISA preemption.

The Article begins by providing an overview of the state automatic enrollment IRA programs. It then discusses a regulatory safe harbor created for these programs in 2016 and disapproved under the Congressional Review Act in 2018. It then turns to the question whether, in ...


A More Secure Choice: Minnesota’S Two-Pronged Approach To State Level Retirement Savings Programs, Chad Burkitt 2019 Mitchell Hamline School of Law

A More Secure Choice: Minnesota’S Two-Pronged Approach To State Level Retirement Savings Programs, Chad Burkitt

Mitchell Hamline Law Journal of Public Policy and Practice

No abstract provided.


Behavioral Finance, Decumulation And The Regulatory Strategy For Robo-Advice, Tom Baker, Benedict Dellaert 2018 University of Pennsylvania Law School

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 ...


A Lesson From Goodfellas: Why Current Illinois Consideration Based Pension Reform Proposals Still Fail, Lari A. Dierks 2018 Northwestern Pritzker School of Law

A Lesson From Goodfellas: Why Current Illinois Consideration Based Pension Reform Proposals Still Fail, Lari A. Dierks

Northwestern Journal of Law & Social Policy

No abstract provided.


Title Vii And The Collateral Source Rule: Evaluating The Not-So Equitable Remedy In Eeoc V. Consol Energy, Virginia Calistro 2018 Boston College Law School

Title Vii And The Collateral Source Rule: Evaluating The Not-So Equitable Remedy In Eeoc V. Consol Energy, Virginia Calistro

Boston College Law Review

On June 12, 2017, the Fourth Circuit Court of Appeals affirmed the decision of the United States District Court for the Northern District of West Virginia to refuse an offset to a Title VII damage award by the amount of pension payments received following the plaintiff's constructive discharge. In doing so, the court adopted a new interpretation of the collateral source rule and its applicability in employment discrimination pay awards. The effect of this decision is to further compound a split of authority between multiple federal courts of appeals regarding the treatment of certain benefits in the wake of ...


How Special Is The Special Timing Rule? Analyzing The Timing Of Fica Taxation In Nonqualified Deferred Compensation Plans, Alan J. Ponce 2018 Georgia State University College of Law

How Special Is The Special Timing Rule? Analyzing The Timing Of Fica Taxation In Nonqualified Deferred Compensation Plans, Alan J. Ponce

Georgia State University Law Review

Many employers offer nonqualified deferred compensation plans as a benefit to select employees, and those plans allow the employees to prepare for retirement in a tax-efficient manner. For employers,designing and administering such plans in compliance with federal law represents a paramount concern in order to achieve the tax advantages such plans entail. However, for these employers, there remains an inherent ambiguity in the tax code regarding how and when employers should withhold Federal Insurance Contribution Act (FICA) taxes—that is, Social Security and Medicare taxes—on deferred compensation in nonqualified retirement plans.

Tax regulations provide two distinct methods for ...


Untrustworthy: Erisa’S Eroded Fiduciary Law, Peter J. Wiedenbeck 2018 College of William & Mary Law School

Untrustworthy: Erisa’S Eroded Fiduciary Law, Peter J. Wiedenbeck

William & Mary Law Review

The trust law analogy has come to dominate judicial thinking about employee benefit plans. Yet despite its rise to rhetorical prominence, ERISA fiduciary law has been dramatically transformed by a series of uncoordinated, low-visibility judicial decisions on multiple fronts. These apparently unconnected case law developments reveal a startling pattern of mutually reinforcing restrictions on ERISA’s protection of pension and welfare benefits. This study chronicles ERISA’s trust law turn to expose how untrustworthy workers’ benefit safeguards have become. Both the scope and the intensity of fiduciary oversight have been radically pruned back in the courts. Notwithstanding the congressional declaration ...


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

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 ...


Privacy Of Information And Dna Testing Kits, Shanna Raye Mason 2018 Catholic University of America (Student)

Privacy Of Information And Dna Testing Kits, Shanna Raye Mason

Catholic University Journal of Law and Technology

In modern times, consumers desire for more control over their own health and healthcare. With this growing interest of control, direct to consumer DNA testing kits have never been more popular. However, many consumers are unaware of the potential privacy concerns associated with such use. This comment examines the popularity and privacy risks that are likely unknown to the individual consumer. This comment also addresses the shortcomings of the Health Insurance Portability and Accountability Act of 1996 (HIPAA), as well as the Genetic Information Nondiscrimination Act of 2008 (GINA) in regard to protecting individual’s genetic information from misuse. This ...


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