Has Your Retirement Plan Experienced a Partial Plan Termination?
By EsqSocial Corporation 03/11/20
The economic uncertainty of the COVID-19 pandemic has forced many employers to furlough or layoff a significant percentage of their workforce. Among the issues an employer should consider in a furlough or layoff context is whether its workforce reductions may have inadvertently caused a “partial termination” of its qualified retirement plan, triggering a requirement that all affected participants become 100% vested and, depending on when the partial termination is identified, require additional...
By: Locke Lord LLP