Law & Economics Center

Judicial Symposium on the Economics and Law of Public Pension Reform

Event Date: Sunday, April 27 to Tuesday, April 29, 2014

Location: Francis Marion Hotel, Charleston, South Carolina

Program Description: The Judicial Symposium on the Economics and Law of Public Pension Reform discussed the looming financial and structural crisis facing state pensions systems across the nation.  With several dozen states adopting modest to major reforms, the economic impact on plan beneficiaries will be substantial, and at least twenty-five jurisdictions are facing lawsuits due to the reforms adopted.

This symposium comprehensively outlined the underlying structure of pension systems, addressed the differences between public and private pensions, and detailed the unfunded liabilities and potential bankruptcy issues arising from this crisis.  It also discussed the legal challenges to reform efforts under state constitutions citing both the contacts clause and the takings clause.

The symposium was structured to allow ample time for participant dialogue with speakers and panelists.

 

Agenda

Part 1: The Background of Pensions

The Financial Structure of Pensions

D. Bruce Johnsen, Professor of Law, George Mason University School of Law and Director, Judicial Education Program, Law & Economics Center

 

The Public Pension Crisis

Joshua D. Rauh, Professor of Finance, Stanford Graduate School of Business and Senior Fellow, Hoover Institution, Stanford University

 


 

Part 2: Bankruptcy: The Nuclear Option

Bankruptcy and the Public Pension Crisis

Keynote: David A. Skeel, S. Samuel Arsht Professor of Corporate Law, University of Pennsylvania Law School

 

Viewing of "Bankrupt" and discussion with film's Director

Ben C. Howe, Founder and Creative Director, Mister Smith Media and Contributor, Redstate.com

 


 

Part 3: Pension Reforms

Pension Reform Options

Eileen C. Norcross, Senior Research Fellow, Mercatus Center, George Mason University

 

Legal Questions Raised by Pension Reform

Amy B. Monahan, Julius E. Davis Professor of Law, University of Minnesota School of Law

 

Audience Q & A

All Speakers

Moderator: Todd J. Zywicki, George Mason Foundation Professor of Law, George Mason University School of Law

 


 

Part 4: An Assessment of the Economic and Legal Arguments Regarding Pension Reform

Public Ch​oice

Todd J. Zywicki, George Mason Foundation Professor of Law, George Mason University School of Law

 

Pension Reform in Practice

Karen S.D. Grande, Partner, Edwards Wildman Palmer LLP

The Honorable Glen R. Grell, Pennsylvania House of Representatives

Paul R. Glassman, Shareholder and Chair of the Business Reorganization and Financial Restructuring Group, Stradling,Yocca, Carlson & Rauth, PC

Moderator: Todd J. Zywicki, George Mason Foundation Professor of Law, George Mason University School of Law

 

Economic and Legal Issues

Jack M. Beermann, Harry Elwood Warren Scholar and Professor of Law, Boston University School of Law

Anthony M. Randazzo, Director of Economic Research, Reason Foundation

Richard M. Hynes, Nicholas E. Chimicles Research Professor of Business Law and Regulation and Director, John M. Olin Program in Law and Economics, University of Virginia School of Law

Moderator: Todd J. Zywicki, George Mason Foundation Professor of Law, George Mason University School of Law

 

Roundtable Discussion

All Speakers and Panelists

Moderator: Todd J. Zywicki, George Mason Foundation Professor of Law, George Mason University School of Law

 

For More Information, Contact: Kayla Lahti
Program Assistant, JEP
703.993.8008
MasonJEP@gmu.edu

 

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