justatester Posted May 31, 2024 Posted May 31, 2024 Question: Is the employee's termination date the last of active employment or the first day of non-employment? For example: I worked on 1/31/2023 is that my termination date? or is 2/1/23 termination date?
Paul I Posted May 31, 2024 Posted May 31, 2024 Let's start with generally the employee's termination date is the last day of active employment. Generally, because things like weekends, holidays, vacations, PTO and leaves of absence where employee does not perform any hours of service can complicate matters. Similarly, payroll practices such as salaried, hourly, and per diem among others also can complicate matters. Without going into all of the details for each situation, the employer and the plan need to have a policy on how each of these things will be applied in determining an employee's termination date, and that policy should be applied in a uniform and consistent manner. Luke Bailey 1
david rigby Posted May 31, 2024 Posted May 31, 2024 There have been some prior discussion threads on this topic. I suggest using the Search box (upper right) with the term "last day worked". 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.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now