AimPoint Pension
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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Re-employing Company Retirees? Avoid Problems with Your Retirement Plan
Warner Norcross & Judd LLP June 11, 2015 "As the workforce ages and retires, employers often seek to fill in gaps by hiring their own retirees as independent contractors or temporary or part-time employees.... [B]efore hiring a retiree: [1] Check your plan document.... [2] Prohibit any understandings with retirees before retirement that they will be re-hired in any capacity. [3] Require a minimum period of time before a retiree can be re-hired.... [4] If you re-hire the retiree as an independent contractor, make the position sufficiently different to support independent contractor status.... [5] If the retiree is safely re-hired, review the future effect of re-employment under the retirement plans." |
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