Democratizing Pension Funds

Download or read book Democratizing Pension Funds written by Ronald B. Davis and published by UBC Press. This book was released on 2009-01-01 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book will spark a debate concerning the need for democracy and accountability in the governance of trillions of dollars of plan members' pension plan assets and the legitimacy of the present, mostly unaccountable, corporate governance decisions made by these plans. The author analyzes the reasons for this passivity, pointing to conflicts of interest with respect to corporate governance activity in pension plans and also to limitations in corporate, securities, and pension law. He argues that plan members should be given a voice in pension plan governance and the plans made accountable, and he outlines the legal reforms necessary.