Guest dhall Posted October 18, 2010 Posted October 18, 2010 I am wondering if the IRS has taken a different stance on partial plan terminations because so many companies are having mass layoffs. It doesn't seem logical that all of these companies would be required to bump everyone up to 100% vesting in these horrible economic times. Or is the answer just, "too bad, so sad, that's the way it is regardless of what kind of economy we're in"?
david rigby Posted October 19, 2010 Posted October 19, 2010 I am wondering if the IRS has taken a different stance on partial plan terminations because so many companies are having mass layoffs. IMHO, not a snowball's chance ..... I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
K2retire Posted October 19, 2010 Posted October 19, 2010 I am wondering if the IRS has taken a different stance on partial plan terminations because so many companies are having mass layoffs. IMHO, not a snowball's chance ..... Agreed. Remember they are far more interested in protecting participants than employers.
Bird Posted October 19, 2010 Posted October 19, 2010 Is it such a hardship for the employer to vest at 100%? I know that forfeitures might reduce contributions, but that's not typically a big number, in my experience. Ed Snyder
movedon Posted October 19, 2010 Posted October 19, 2010 I'd say the economy's rough on the people who got laid off, too.
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