Employee Benefits Alert: Has your company's layoff caused a partial termination of your retirement plan?

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Maybe you have been forced to lay off employees because of a price collapse in your industry or to brace for economic challenges ahead. Maybe you have been forced to cease operations at one of your business locations. Or maybe you are currently in the process of reducing your workforce.

During these challenging economic times, it is important to keep in mind that if you terminate a significant percentage of your employees, you may unknowingly cause a “partial termination” of your retirement plan.

Please see full alert for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© McAfee & Taft | Attorney Advertising

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