Leaderboard

I think the decision rests on materiality - and that is a judgment on the part of management. Does the grievance have "merit?" Is there a likelihood that the union will prevail? What are the costs shold the union prevail? I agree with David Rigby - that erring on the side of caution is appropriate - but that doesn't always mean it needs to be disclosed.

Perhaps the plan should have some "severance from apron strings" language.

I never could absorb this statement...

Oh, if it is a new plan sponsored by a new company, they can probably exclude the employees until they have a year of service with the new company. Don't have to count service with a prior employer. What they CANNOT do is count service with the prior company for the new owner but not for everyone else. So if everyone else has to wait a year to become participants in what is (presumably) intended to be a qualified plan, there is no possibility of the new owner not also having to wait a year. NONE.

Maybe I'm missing something, but since the plan is paying the expenses, shouldn't the fee (or the formula for calculating the fee) have been disclosed ahead of time? Or are we discussing future changes?