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Retirement Security Law Commons

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539 full-text articles. Page 1 of 11.

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 The classic defined-benefit (DB) plan has largely been replaced by the defined contribution (DC) plan.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 ...


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 ...


“Let Them Eat Cake”: Examining United States Retirement Savings Policy Through The Lens Of International Human Rights Principles, Regina T. Jefferson 2018 The Catholic University of America, Columbus School of Law

“Let Them Eat Cake”: Examining United States Retirement Savings Policy Through The Lens Of International Human Rights Principles, Regina T. Jefferson

Scholarly Articles and Other Contributions

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 ...


The Public Pension Crisis Through The Lens Of State Constitutions And Statutory Law, Kristen Barnes 2017 University of Akron School of Law

The Public Pension Crisis Through The Lens Of State Constitutions And Statutory Law, Kristen Barnes

Chicago-Kent Law Review

No abstract provided.


Failing Cities And The Red Queen Phenomenon, Samir D. Parikh, Zhaochen He 2017 Lewis & Clark Law School

Failing Cities And The Red Queen Phenomenon, Samir D. Parikh, Zhaochen He

Boston College Law Review

Cities and counties are failing. Unfunded liabilities for retirees’ healthcare benefits aggregate to more than $1 trillion. Pension systems are underfunded by as much as $4.4 trillion. Many local government capital structures ensure rising costs and declining revenues, the precursors to service-delivery insolvency. These governments are experiencing the Red Queen phenomenon. They have tried a dizzying number of remedies, but their dire situation persists unchanged. State legislatures have failed to respond. More specifically, many states have refused to implement meaningful debt restructuring mechanisms for local governments. They argue that giving cities and counties the power to potentially impair bond ...


In Pursuit Of Good & Gold: Data Observations Of Employee Ownership & Impact Investment, Christopher Geczy, Jessica S. Jeffers, David K. Musto, Anne M. Tucker 2017 Seattle University School of Law

In Pursuit Of Good & Gold: Data Observations Of Employee Ownership & Impact Investment, Christopher Geczy, Jessica S. Jeffers, David K. Musto, Anne M. Tucker

Seattle University Law Review

A startup’s path to self-sustaining profitability is risky and hard, and most do not make it. Venture capital (VC) investors try to improve these odds with contractual terms that focus and sharpen employees’ incentives to pursue gold. If the employees and investors expect the startup to balance the goal of profitability with another goal—the goal of good—the risks are likely to both grow and multiply. They grow to the extent that profits are threatened, and they multiply to the extent that balancing competing goals adds a dimension to the incentive problem. In this Article, we explore contracting ...


My Company Is Freezing The Pension Plan: What Does This Mean?, Pension Action Center, Gerontology Institute, University of Massachusetts Boston 2017 University of Massachusetts Boston

My Company Is Freezing The Pension Plan: What Does This Mean?, Pension Action Center, Gerontology Institute, University Of Massachusetts Boston

Pension Action Center Publications

As employers move away from traditional defined benefit pension plans in favor of defined contribution 401(k) plans, the number of frozen pension plans is rapidly increasing. While most companies would like to rid themselves of their pension plan liabilities, more often than not, employers deem it too costly to terminate their existing plans and pay out all accrued benefits to participants and beneficiaries. As a result, instead of terminating their existing pension plans, many employers are electing to “freeze” their plans. Pension plans may be frozen using a “hard freeze” or a “soft freeze”. While both types of plan ...


Lump Sum Vs Annuity Payments: Which Is Right For Me?, Pension Action Center, Gerontology Institute, University of Massachusetts Boston 2017 University of Massachusetts Boston

Lump Sum Vs Annuity Payments: Which Is Right For Me?, Pension Action Center, Gerontology Institute, University Of Massachusetts Boston

Pension Action Center Publications

As employers are looking to reduce pension plan liabilities, more and more participants are being given the option to receive a one-time lump sum payment from their pension plan in lieu of receiving monthly annuity payments for life. Deciding on which form of pension benefit to take is a very important decision that requires careful consideration. Unfortunately, there is no one-size-fits-all answer. While a lump sum may make sense for one person, it may be a serious mistake for another. And it is a decision that you will have to live with for the rest of your life. Anyone who ...


Survivor Funds, Jonathan Barry Forman, Michael J. Sabin 2017 University of Oklahoma

Survivor Funds, Jonathan Barry Forman, Michael J. Sabin

Pace Law Review

This Article explains how to create “survivor funds”—short-term investment funds that would pay more to those investors who live until the end of the fund’s term than to those who die before then. For example, instead of just investing in a ten-year bond and dividing the proceeds among the investors at the end of the bond term, a survivor fund would invest in that ten-year bond but divide the proceeds only among those who survived the full ten years. These survivor funds would be attractive investments because the survivors would get a greater return on their investments, while ...


2015-2016 Legislative Summary, Assembly Committee on Public Employees, Retirement and Social Security 2017 Golden Gate University School of Law

2015-2016 Legislative Summary, Assembly Committee On Public Employees, Retirement And Social Security

California Agencies

No abstract provided.


Despite Some Gains, Social Security Administration Data Show A Low Level Of Workforce Participation Among Ssi Recipients, Daria Domin, Jaimie Ciulla Timmons, ThinkWork! at the Institute for Community Inclusion at UMass Boston 2017 University of Massachusetts Boston

Despite Some Gains, Social Security Administration Data Show A Low Level Of Workforce Participation Among Ssi Recipients, Daria Domin, Jaimie Ciulla Timmons, Thinkwork! At The Institute For Community Inclusion At Umass Boston

Data Note Series, Institute for Community Inclusion

According to the Social Security Administration (SSA), a total of 4,961,659 blind and disabled recipients1 between the ages of 18 and 64 received Supplemental Security Income (SSI) benefits in 2015. Out of the almost 5 million individuals receiving SSI benefits, only 6.3% worked (n=311,922).

Adults with disabilities between the ages of 40 and 64 were a significant demographic of people who receive SSI, constituting almost two thirds of recipients in 2015 (64%; n=3,167,307). However, only 3.5% (n=111,762) of SSI recipients with disabilities in this age group worked.

In ...


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