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Layoffs › Vesting

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

Goodwin

Ten Action Items for Employers When Planning Layoffs

Goodwin on

​​​​​​​A frequently used step to control costs in times of uncertainty is to reduce personnel. A well-planned restructuring or reduction in force, generally referred to as a “layoff,” can achieve meaningful cost reductions...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

Faegre Drinker Biddle & Reath LLP

COVID-19 Layoffs Could Trigger Partial Plan Terminations

Faegre Drinker Biddle & Reath LLP on

Employers considering layoffs during this period of economic uncertainty should be aware that extensive layoffs could inadvertently cause a partial termination of their company’s qualified retirement plan. Employers should...more

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