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Topics in Financial Regulation: Consumer and Investor Protection

Part IV. Retirement Savings Under ERISA: TFR Class Ten: March 9, 2015

After a brief followup discussion on the oral argument in King v. Burwell (scheduled for 3/4/15), we will turn out attention to the regulation of retirement savings under ERISA. Here we will begin with a discussion of the Supreme Court's 2014 decision in First Third Bancorp v. Dudenhoeffer, and then take up the recently argued case of Tibble v. Edison International, where our readings will consist of the amicus brief of the Solicitor General and a SCOTUS Blog on the 2/26/15 oral argument.

The final reading for today's class is an academic critique of the use of behavioral economics to inform the structure of DOL regulation of 401(k) plans. See Excerpt on Retirement Savings from Ryan Bubb and RIchard Pildes, How Behavioral Economics Trims its Sails and Why, 127 Harv. L. Rev. 1595 (2014). Note: As background reading only, I have also posted the 1/13/15 White House Memorandum on Draft Conflict of Interest Rule for Retirement Savings. This document relates to the legal standard at issue in the Tibble v. Edison International case.