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Comments On Worker Classification Proposed Rule For Flsa Purposes Rin 1235-Aa43, Samantha J. Prince, Taylor Haberle, Lauren E. Stahl
Comments On Worker Classification Proposed Rule For Flsa Purposes Rin 1235-Aa43, Samantha J. Prince, Taylor Haberle, Lauren E. Stahl
Faculty Scholarly Works
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Employee Turnover & Partial Plan Terminations, Samantha J. Prince
Employee Turnover & Partial Plan Terminations, Samantha J. Prince
Faculty Scholarly Works
Who would have expected that a pandemic would bring Congressional awareness of an oft-overlooked concept called Partial Plan Terminations? Congress codified a temporary (and now expired) partial termination safe harbor for qualified retirement plans in the Consolidated Appropriations Act, 2021. This was necessary because qualified plans can experience a partial termination due to layoffs resulting from an economic downturn. The pandemic created such an upheaval for many businesses that without such relief, an overwhelming number of plans would have partially terminated. However, even with businesses reopening, the economy continues to be in flux, and this can portend more employee turnover. …