Employee Benefits and Executive Compensation

Author: David J. Reilly; Samuel Estreicher
Publisher: Kluwer Law International
ISBN: 9789041132666
Published In: May 2010
Format: Hardback , 760 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Most employers know that rewarding their best workers is good business. However, the “return” on such investment is difficult to measure, and wise employers think long and hard about two of their largest expense items – employee benefits and executive compensation. Today in the United States, under the glare of issues raised by the current financial crisis, company-sponsored benefits programs have become mere shadows of what they once were, and executive compensation has come under intense scrutiny to the point where the Treasury Department monitors it at companies receiving federal assistance. In recognition of the growing importance of employee benefits and executive compensation issues, the Center for Labor and Employment Law at New York University School of Law dedicated New York University’s 59th Annual Conference on Labor to an in-depth examination of these topics. This volume of the proceedings of the 2006 conference contains papers presented at that meeting, all here updated to reflect recent developments. It also includes contributions from other practitioners and academics with extensive knowledge and experience in this specialized field of labor and employment law. Among the topics presented and discussed are the following:

• the structure and adequacy of the U.S. system of providing for retirement income;

• alternative models of providing retirement benefits, including a government-provided livable pension;

• accounting standards as a “silent regulator” of defined benefit pension plans ;

• impact and implications of the Pension Protection Act of 2006 (PPA);

• benefits issues for foreign workers in the United States, both documented and undocumented;

• issues for companies that adopt stock acquisition programs as an employee compensation vehicle;

• recent healthcare reform proposals at the state level as pilot projects for a national system;

• the ERISA preemption scheme and denial of coverage under an ERISA-governed health care plan; and

• attorney conflict of interest situations under ERISA.

As always, this annual conference captures valuable insights and syntheses of central labor and employment law issues in the United States and will be of great value to practitioners and academics in the field.

Part I Pension Benefits in the New Century

Chapter 1 The Shift from Defined Benefit Plans to Defined Contribution Plans Samuel Estreicher & Laurence Gold

Chapter 2 Is It Time to Admit the Failure of an Employer-Based Pension System? Susan J. Stabile

Chapter 3 How FASB Hijacked U.S. Pension Policy Joel A. Willcher

Chapter 4 Much Ado about the Meaning of "Benefit Accrual": The Issue of Age Discrimination in Hybrid Cash Balance Plan Qualification Is Dying but Not Yet Dead Barry Kozak and Joshua Waldbeser

Chapter 5 The Defined Contribution Paradigm: Why It Happened and Why Social Security Accounts Didn’t (at Least Not Yet) Edward A. Zelinsky

Chapter 6 The Perfect Storm of Retirement Insecurity: Fixing the Three-Legged Stool of Social Security, Pensions, and Personal Savings Stephen F. Befort

Part II Benefits and Compensation Issues for Multinational Employees

Chapter 7"The Longest Journey, with a First Step": Bringing Coherence to Sovereignty and Jurisdictional Issues in Global Employee Benefits Law Paul M. Secunda

Chapter 8 Global Stock Option Plans: Registration, Disclosure, and Tax Issues Susan P. Serota

Part III Managing Health Care Costs at the Bargaining Table and Beyond

Chapter 9 Recent Agreements between Business and Unions Renews Interest in VEBAs but the Benefit Is Limited Michael Peterson

Chapter 10 Retiree Medical Litigation’s Dirty Little Secret: "Location, Location, Location!" James Baker, Andy Kramer, Evan Miller and Steve Sacher

Chapter 11 The Past, Present, and Future of Health Care Reform: Can It Happen? David Pratt

Chapter 12 Federalism, Federal Regulation, or Free Market? An Examination of Mandated Health Benefit Reform Amy B. Monahan

Part IV ERISA Preemption Issues

Chapter 13Employer Mandates and ERISA Preemption: A Critique of Golden Gate Restaurant Association v. San Francisco Edward A. Zelinsky

Chapter 14 Threading the Eye of the ERISA Needle: ERISA Preemption and Alternative Legal Schemes to Fill the Regulatory Vacuum Bernard D. Reams, Jr. and Michael P. Forrest

Part V Section 409A Regulations and Executive Contracts

Chapter 15 Has Congress Stopped Executives from Raiding the Bank? A Critical Analysis of I.R.C. §409A Michael J. Hussey

Part VI Impact of New Pension Legislation

Chapter 16 The Pension Protection Act of 2006: An Overview of Sweeping Changes in the Law Governing Retirement Plans Craig C. Martin and Joshua Rafsky

Part VII Issues in Welfare Plan Administration

Chapter 17 Inherent Attorney Conflicts of Interest under ERISA: Using the Model Rules of Professional Conduct to Discourage Joint Representation of Dual Role Fiduciaries Paul M. Secunda

Chapter 18 What Process Is Due in the Adjudication of ERISA Claims Mark D. DeBofsky

Dwight D. Opperman Professor of Law

Director, Center for Labor and Employment Law

Co-Director, Dwight D. Opperman Institute of Judicial Administration