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401k › Layoffs › Retirement Plan

Ice Miller

Uncertainty at the IRS: Why Qualified Pension Plans Should Self-Audit

Ice Miller on

The Internal Revenue Service (IRS) began terminations of employees on February 20, 2025, with initial news reports of layoffs set to 6,000 terminations and a stated intent to downsize its workforce by upwards of 50 percent as...more

Foley & Lardner LLP

Taming the Tariffs: Employee Benefit Issues for Employers During Times of Economic Uncertainty – Group Employee Terminations

Foley & Lardner LLP on

Many companies are scrambling to quickly assess how to reduce the business impact of the upheaval to U.S. manufacturing and trading with the recent onslaught of tariffs threatened or imposed by the United States and the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Partial Termination headache

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

With COVID and massive layoffs, we certainly have a partial termination problem to consider. If an employer has a turnover rate of 20% or more, that counts as a partial termination, and employers have to fully vest employees...more

Woods Rogers

COVID-19 and the CARES Act – Partial Termination Relief for Retirement Plans

Woods Rogers on

Many employers have had to terminate or furlough employees in 2020 due to COVID-19.   Under IRS rules, a partial termination of a retirement or 401(k) plan may occur when there is a significant reduction (generally more than...more

Carlton Fields

Three Timely Benefits Items Everyone Should Know

Carlton Fields on

Carlton Fields tax attorney Lowell Walters discusses three timely employee benefits issues: using employee benefits to reduce expenses; helping retirement plan participants in an inconsistent investment market; and, the...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - COVID-19 Edition - Employee Benefits Considerations When Conducting Furloughs and...

Williams Mullen on

On the latest episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses the differences between furloughs and layoffs and how each can impact employee benefits, such as 401(k) plans and group health plans....more

Jackson Walker

Additional Clarity for Employers and Retirement Plan Administrators on Coronavirus Relief Under the CARES Act

Jackson Walker on

After the CARES Act was enacted, plan administrators had questions regarding how to determine if a participant is eligible to receive a Coronavirus distribution, Coronavirus loan, or delay of loan payments because a...more

Goodwin

Top 10 Compensation and Benefits Issues for Employers in Light of the COVID-19 Pandemic

Goodwin on

As the COVID-19 pandemic continues to unfold, many employers are faced with questions about the impact of economic changes and workforce reductions on their compensation and benefits arrangements. This alert is intended to...more

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