• Login
    View Item 
    •   Home
    • Yale Law School Faculty Scholarship
    • Faculty Scholarship Series
    • View Item
    •   Home
    • Yale Law School Faculty Scholarship
    • Faculty Scholarship Series
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Browse

    All of openYLSCommunitiesPublication DateAuthorsTitlesSubjectsThis CollectionPublication DateAuthorsTitlesSubjects

    My Account

    LoginRegister

    Statistics

    Display statistics

    ERISA’s Fundamental Contradiction: The Exclusive Benefit Rule

    • CSV
    • RefMan
    • EndNote
    • BibTex
    • RefWorks
    Thumbnail
    Name:
    ERISA_s_Fundamental_Contradict ...
    Size:
    1.025Mb
    Format:
    PDF
    Download
    Author
    Fischel, Daniel
    Langbein, John
    
    Metadata
    Show full item record
    URI
    http://hdl.handle.net/20.500.13051/4409
    Abstract
    The comprehensive federal scheme for regulating pension and other employee benefit plans, ERISA, is approaching its fifteenth anniversary. ERISA has attracted a large administrative gloss and a burgeoning case law. Experience has begun to show the effects of the statute. Parts of ERISA appear to have worked smoothly. The reporting and disclosure provisions that were a central goal of the legislation have been implemented without much ruckus. Another major goal of the statute, the vesting scheme that restricts the forfeiture of pension benefits, has also proved easy to institute. The disclosure and vesting rules have produced scant litigation. Other parts of ERISA have become much more problematic. The overbroad preemption provision has wreaked aimless interference upon state regulation of areas such as health insurance that are quite peripheral to pension policy. Neither a substantial string of Supreme Court cases nor occasional Congressional repair has been able to cure the mess. Another well known instance of statutory shortsightedness is ERISA's effort to regulate the financial affairs of multiemployer plans. The 1974 legislation insisted on covering these plans without working out the principles, which Congress had to supply by amendment in 1980. The 1980 amendment imposed unexpected and dismaying retroactive liabilities on employers. Although the Supreme Court has mostly sustained the constitutionality of the scheme, employer resistance to participation in multiemployer plans has increased, and there is reason to think that the legislation may ultimately be seen to have doomed the multiemployer system. Yet another instance of serious disorder in ERISA is the insurance system that protects workers' pension benefits in the event that a plan defaults. Because the program rewards moral hazard, the Pension Benefit Guaranty Corporation (the federal insurer whose duty is to suffer the consequences) has amassed a deficit that is growing by billions and that makes the program inherently unstable.
    Collections
    Faculty Scholarship Series

    entitlement

     
    DSpace software (copyright © 2002 - 2023)  DuraSpace
    Quick Guide | Contact Us
    Open Repository is a service operated by 
    Atmire NV
     

    Export search results

    The export option will allow you to export the current search results of the entered query to a file. Different formats are available for download. To export the items, click on the button corresponding with the preferred download format.

    By default, clicking on the export buttons will result in a download of the allowed maximum amount of items.

    To select a subset of the search results, click "Selective Export" button and make a selection of the items you want to export. The amount of items that can be exported at once is similarly restricted as the full export.

    After making a selection, click one of the export format buttons. The amount of items that will be exported is indicated in the bubble next to export format.