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Retirement Security Law Commons

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538 full-text articles. Page 3 of 11.

Illinois Secure Choice Savings Program Act (Passed Jan. 4, 2015), Emily G. Brown JD, Ellen Bruce JD 2015 University of Massachusetts Boston

Illinois Secure Choice Savings Program Act (Passed Jan. 4, 2015), Emily G. Brown Jd, Ellen Bruce Jd

Ellen Bruce

The Illinois Secure Choice Savings Program Act, passed on January 4, 2015, creates an automatic enrollment payroll deduction IRA. The purpose of the program is to promote increased retirement savings participation for employees in the private sector. This fact sheet answers some basic questions about how this new program will affect workers and their employers in Illinois.


Hardship Withdrawals And Loans: Some Words Of Caution, Emily G. Brown JD, Jeanne Medeiros JD, Ellen Bruce JD 2015 University of Massachusetts Boston

Hardship Withdrawals And Loans: Some Words Of Caution, Emily G. Brown Jd, Jeanne Medeiros Jd, Ellen Bruce Jd

Ellen Bruce

As defined benefit pension plans become more and more rare, the responsibility of saving for retirement falls increasingly on individuals. Many studies have been published about the average or median balances in retirement savings accounts and virtually all of them have reached the same conclusion - most Americans aren’t saving enough money to last them through their retirement years. In this fact sheet we will take a look at one of the factors that contributes to this problem, that is, the availability of loans and hardship withdrawals from 401(k) retirement accounts, which can lead to lower account balances overall ...


Illusory Rights Under The Arbitrary And Capricious Standard: Adding Remedial Safeguards To The Judicial Standard Of Review Beyond Erisa Denial Of Benefits Claims, Javier J. Diaz 2015 Seton Hall University

Illusory Rights Under The Arbitrary And Capricious Standard: Adding Remedial Safeguards To The Judicial Standard Of Review Beyond Erisa Denial Of Benefits Claims, Javier J. Diaz

Seton Hall Circuit Review

No abstract provided.


We Wouldn’T Be Here If It Weren’T For Them: Encouraging Family Caregiving Of Indigent Parents Through Filial Responsibility Laws, Katie Sisaket 2015 Hamline University School of Law

We Wouldn’T Be Here If It Weren’T For Them: Encouraging Family Caregiving Of Indigent Parents Through Filial Responsibility Laws, Katie Sisaket

Journal of Public Law and Policy

No abstract provided.


Social Security Reform: Risks, Returns, And Race, Dorothy A. Brown, Karen C. Burke, Grayson M.P. McCouch 2015 University of Florida Levin College of Law

Social Security Reform: Risks, Returns, And Race, Dorothy A. Brown, Karen C. Burke, Grayson M.P. Mccouch

Grayson McCouch

The debate over social security reform has far-reaching implications for the economic well-being of blacks and other minority groups. In this article, we examine how blacks have fared under the existing system, and then consider the likely consequences of moving toward a privatized system. Specifically, we consider the claim, recently advanced by some privatizers, that blacks receive an especially "bad deal" under the existing system and would be better off under a privatized system. We find that, for blacks as a group, this claim tends to overstate both the shortcomings of the existing system and the advantages of privatization. Furthermore ...


Privitizing Social Security: Administration And Implementation, Karen C. Burke, Grayson M.P. McCouch 2015 University of Florida Levin College of Law

Privitizing Social Security: Administration And Implementation, Karen C. Burke, Grayson M.P. Mccouch

Grayson McCouch

This article considers administrative issues that bear on the structure and implementation of any universal, mandatory system of personal accounts within the Social Security system. The central issues involve tradeoffs between relatively standardized, low-cost options with constrained individual choice and limited risk, on the one hand, and more flexible, higher-cost options with enhanced opportunities for individual control and greater risk, on the other hand. A centralized system modeled on the Thrift Savings Plan for federal employees could balance these goals by offering participants a relatively narrow range of investment and withdrawal options, with correspondingly low administrative costs and limited risks ...


Hidden In Plain View: The Pension Shield Against Creditors, Patricia E. Dilley 2015 University of Florida Levin College of Law

Hidden In Plain View: The Pension Shield Against Creditors, Patricia E. Dilley

Patricia E Dilley

This Article examines the virtually unquestioned protection of retirement assets from creditors, in both state and federal law, with a view to determining whether tax qualification or even retirement itself is a sufficient rationale for preserving debtor assets in the face of creditors' claims, and if so, what the limits of such protection should be. The problems of current law stem in large part from the use of tax qualified status as a convenient shortcut for determining the appropriate bankruptcy treatment of retirement accounts. The result is a wide disparity in the treatment of debtors epitomized by the cases of ...


Supreme Court’S Decision In Fifth Third Bancorp V. Dudenhoeffer Introduces New Standards For Erisa Fiduciaries, Barry R. Temkin, Kate E. DiGeronimo 2015 Mound Cotton Wollan & Greengrass

Supreme Court’S Decision In Fifth Third Bancorp V. Dudenhoeffer Introduces New Standards For Erisa Fiduciaries, Barry R. Temkin, Kate E. Digeronimo

Barry R. Temkin

In its 2014 decision in Fifth Third Bancorp v. Dudenhoeffer et al., the U.S. Supreme Court held that fiduciaries of plans that hold publicly traded company stock are subject to the same duty of prudence that applies to fiduciaries in general under the Employee Retirement Income Security Act of 1974 (“ERISA”). In doing so, the Supreme Court effectively rejected decades of law applied by nearly all the Courts of Appeals affording fiduciaries of company stock plans a special “presumption of prudence” not available to the fiduciaries of other varieties of ERISA plans. In place of the presumption of prudence ...


After Tackett: Incomplete Contracts For Post-Employment Healthcare, Maria Hylton 2015 Boston University School of Law

After Tackett: Incomplete Contracts For Post-Employment Healthcare, Maria Hylton

Faculty Scholarship

This paper examines the recent U.S. Supreme Court retiree health care decision in Tackett v. M & G Polymers and focuses, in particular, on the ostensibly odd silence with respect to a critical contract term — whether the parties in fact agreed that these benefits were vested. Although the union in Tackett insisted these welfare benefits were clearly intended to vest and the employer now asserts they can be modified at any time, the collective bargaining agreement and supporting documents are ambiguous on this question. This paper examines how and why this “silence” persisted for so many decades and concludes that ...


Anti-Fraud Provisions Of The Securities Act; Erisa; Pension Plans; Section 17(A) Private Right Of Action; Daniel V. International Brotherhood Of Teamsters, Marlene P. Emery, Barbara M. Heinzerling 2015 The University of Akron

Anti-Fraud Provisions Of The Securities Act; Erisa; Pension Plans; Section 17(A) Private Right Of Action; Daniel V. International Brotherhood Of Teamsters, Marlene P. Emery, Barbara M. Heinzerling

Akron Law Review

In Daniel v. International Brotherhood of Teamsters the Seventh Circuit Court of Appeals held that the federal securities laws apply to disclosure of information regarding employee pension and profit sharing plans. In an era when disclosure of information has become mandatory and commonplace, it is not surprising that relevant information on pension plans should be disclosed to employees. The important aspect of this case is that disclosure was required under the anti-fraud provisions of the federal securities laws, rather than under the provisions of the Employee Retirement Income Security Act (ERISA). Questions concerning the Securities and Exchange Commission's jurisdiction ...


Securities Laws Implications For Savings Associations Acting As Trustees For Ira's And Keoghs, 2015 The University of Akron

Securities Laws Implications For Savings Associations Acting As Trustees For Ira's And Keoghs

Akron Law Review

This article will focus on the major problem area which has resulted from the above legislation. That problem is whether or not a savings association must register with the Securities and Exchange Commission (SEC) pursuant to the Securities Act of 1931 or the Investment Company Act of 1940, as a consequence of acting as trustee for an IRA or Keogh plan.


Disqualitifcation Of Employee Retirement Plans: The Wrong Remedy, William J. Rands 2015 The University of Akron

Disqualitifcation Of Employee Retirement Plans: The Wrong Remedy, William J. Rands

Akron Law Review

Yet Congress failed to extirpate from the tax laws the sanction of disqualifying an employee retirement plan. Not only has disqualification been described as being "draconian" and "harsh," but it has also been noted that it results in "tragedy," "penalizes the covered employees who have no part in the wrongdoing,"6 and frustrates the legislative purpose of encouraging the establishment and maintenance of employee retirement plans. The imposition of this sanction is nonsensical: the tax consequences devastate the financial security of employees whose future depends on the retirement income they will receive from their employers' plans. This article will discuss ...


Post-Norris Ambiguities: Unanswered Questions For Women And The Pension Industry, T. Timothy Ryan Jr., Paula A. Rock 2015 The University of Akron

Post-Norris Ambiguities: Unanswered Questions For Women And The Pension Industry, T. Timothy Ryan Jr., Paula A. Rock

Akron Law Review

On April 25, 1978, the United States Supreme Court decided Los Angeles Department of Water and Power v. Manhart in a way that was bound to have a profound effect on the pension industry. The division of opinion in the Manhart Court was indicative of the difficulty of the question presented. In Part I, this article examines the Court's findings in Manhart, as well as its conclusions in a more recent case, Arizona Governing Committee v. Norris, in which the Supreme Court extended its Manhart holding in a way bound to have an equally significant impact on pension programs ...


Retiree Welfare Benefits: Erisa, Lmra And The Federal Common Law, Frances Figetakis 2015 The University of Akron

Retiree Welfare Benefits: Erisa, Lmra And The Federal Common Law, Frances Figetakis

Akron Law Review

Part I of this comment will examine the applicable statutory law in this area. Part II will examine the developing body of federal case law. Part III will address the underlying policy concerns in conjunction with already established precedent to provide insight into what the law in this area should be.


A Tax Lawyer's Observations On Scary Numbers, Politics, And Irresponsibility: A Commentary On Shaviro's Reckless Disregard, Lawrence Lokken 2015 Selected Works

A Tax Lawyer's Observations On Scary Numbers, Politics, And Irresponsibility: A Commentary On Shaviro's Reckless Disregard, Lawrence Lokken

Lawrence Lokken

The fiscal gap is filled by the issuance of government debt, au increasing portion of which is held by foreigners. Although foreigners still seem willing to absorb large amounts of U.S. debt, international organizations express concern over U.S. budgetary deficits. A significant source of the fiscal gap is the Social Security system. Two changes that might resolve Social Security funding issues include raising the minimum age to receive full retirement benefits to seventy years old and raising the taxable wage base. Politically, however, adopting either of these changes soon seems impossible. In addition, current Medicare costs will exceed ...


Finding A Financial Planner, Emily G. Brown JD 2015 University of Massachusetts Boston

Finding A Financial Planner, Emily G. Brown Jd

Pension Action Center Publications

This fact sheet provides information on how to find the right financial planner to help you meet your retirement planning goals. This fact sheet suggests things to consider prior to picking a financial planner and answers questions like:

  • What do financial planners do?
  • How do you know if you need a financial planner?
  • How do you find the right financial planner?
  • What type of professional title does a financial planner have?


The 11th Annual Employee Benefits Symposium: America's Retirement Crisis: What Can Be Done, 46 J. Marshall L. Rev. Xxiii (2013), Kathryn J. Kennedy 2015 John Marshall Law School

The 11th Annual Employee Benefits Symposium: America's Retirement Crisis: What Can Be Done, 46 J. Marshall L. Rev. Xxiii (2013), Kathryn J. Kennedy

Kathryn J. Kennedy

No abstract provided.


401(K) Plan Expenses, Anne Becker, Jeffrey Arnold 2015 McDermott, Will & Emery

401(K) Plan Expenses, Anne Becker, Jeffrey Arnold

Pension Action Center Publications

Under a 401(k) plan, your benefit is your vested account balance. This account balance reflects the contributions you make to the plan, the contributions your employer makes to the plan on your behalf (if any), and investment gains and losses.

Many 401(k) plan participants are responsible for choosing how to invest their account balances. If you direct the investment of your 401(k) plan account balance, it is important to understand that fees and expenses may substantially reduce the growth of your 401(k) plan account balance over the course of your working life. The Department of Labor ...


The Ephemeral Promise Of Annuitization For A Secure Retirement, 2015 Selected Works

The Ephemeral Promise Of Annuitization For A Secure Retirement

Patricia A. McCoy

No abstract provided.


Your Former Employer’S 401(K) Plan, Jeanne Medeiros JD 2015 University of Massachusetts Boston

Your Former Employer’S 401(K) Plan, Jeanne Medeiros Jd

Pension Action Center Publications

When you leave a job where you have participated in a 401(k) plan, you may have a number of different options about what to do with the money in that account. This fact sheet explains those options and offers guidance about the pros and cons of each option.

Here are some frequently asked questions answered in this face sheet:

Q. Can I leave my money in my former employer’s plan?

Q. What are my other options?

Q. If I decide to withdraw the account balance from my former employer’s plan, how do I do that, and how ...


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