A practical guide to preemption for self-insured plans

Article Abstract:

Federal law preempts state law regulation of self-insured plans under certain circumstances. The Employee Retirement Income Security Act of 1974 (ERISA) allows preemption under 3 clauses, namely, the preemption clause, the savings clause and the deemer clause. The preemption clause states that ERISA preempts any state laws relating to any employee benefit program. The savings clause excludes state laws that regulate banking, securities or insurance. The deemer clause restricts recharacterization of benefit plans so as to put them back into the exemption of the savings clause.

Insurance Regulation, Laws, regulations and rules, Political aspects, Employee benefits, Insurance law, Self-insurance, Self insurance

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The optimal design of minimum distribution requirements for retirement plans

Article Abstract:

The provisions of the minimum distribution requirements for retirement plans are found to be generally outmoded because of increased life expectancies and employees working past retirement age. Logic and economic theory analysis of the rules suggest that the amendments be removed entirely or revised so that fairness is improved. The current law, as is, would complicate situations of pensioners when they come to draw on their retirement assets.

Management, Interpretation and construction, Labor law, Qualified benefit plans

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