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PODCAST: Williams Mullen's Benefits Companion - COVID-19 Edition - Employee Benefits Considerations When Conducting Furloughs and Layoffs
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DE Talk: QuaranDEAM Edition, Episode 1: Preparing for a Reduction in Force
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Workers' Compensation Academy: Pennsylvania COVID-19 Update: Layoff or Furlough from Light Duty as a Result of COVID-19
Coronavirus Employment Law Update for Contractors (DMV)
Coronavirus Employment Law Update for Contractors (New Jersey)
COVID-19 Survival: The $2 Trillion CARES Act and Your Business
Coronavirus Q&A: But wait, there’s more!
Coronavirus Employment Law Update for Contractors (Pennsylvania)
As talk of an economic slowdown persists, so have the number of layoff an- nouncements hitting the news. While the last quarter of 2022 saw the technology and financial sectors lay off thousands of workers, in 2023, this...more
When markets are unpredictable, employers may be required to make business decisions that can have unanticipated effects on their retirement and health and welfare benefit plans. Employers should keep the following...more
No one denies that employers confronted a plethora of challenges in 2020, and many had to make difficult decisions to reduce their workforces due to the pandemic. Such reductions in force can implicate a number of business...more
In our April 2020 post, we detailed how employee layoffs can cause a qualified retirement plan to undergo a “partial termination,” resulting in required 100% vesting of the affected employees’ benefits. As 2020 drew to a...more
With COVID and massive layoffs, we certainly have a partial termination problem to consider. If an employer has a turnover rate of 20% or more, that counts as a partial termination, and employers have to fully vest employees...more
Many employers have had to terminate or furlough employees in 2020 due to COVID-19. Under IRS rules, a partial termination of a retirement or 401(k) plan may occur when there is a significant reduction (generally more than...more
In our May 2020 client alert, we addressed the possibility that COVID-19 layoffs could inadvertently cause a partial termination of a company’s qualified retirement plan. Recently issued IRS guidance provides that if...more
COVID-19 has forced many employers to reduce their workforce through furloughs or layoffs. These reductions may cause employers to experience a partial plan termination of their qualified retirement plans, which requires 100%...more
Carlton Fields tax attorney Lowell Walters discusses three timely employee benefits issues: using employee benefits to reduce expenses; helping retirement plan participants in an inconsistent investment market; and, the...more
As many employers are on the way to normalizing their business practices and re-engaging their employees, they should not overlook the many potential pitfalls in the administration of their retirement, health and welfare...more
On the latest episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses the differences between furloughs and layoffs and how each can impact employee benefits, such as 401(k) plans and group health plans....more
COVID-19 continues to throw us curveballs. While some states that were continuing on their path to recovery are having to backtrack, others have managed to temporarily halt the progression of COVID-19 and are proceeding as...more
During the Coronavirus, it’s been fun working from home, but many are returning to the trenches. One of the issues we need to take a look at is employee benefits. In this episode, McGlinchey Labor & Employment team members...more
After the CARES Act was enacted, plan administrators had questions regarding how to determine if a participant is eligible to receive a Coronavirus distribution, Coronavirus loan, or delay of loan payments because a...more
The COVID-19 pandemic has employers strategizing on how to retain valuable employees while addressing declines in demand for the company’s products or services. Some employers have placed employees on unpaid leave status...more
Increasing numbers of employers are being forced to shutter places of business and lay off workers as the coronavirus pandemic continues. When laid off workers are participants in their employer’s qualified retirement plan,...more
Employers are trying to be as generous as possible during the interruption to normal operations caused by COVID-19, including by keeping benefits in place even when salaries are out of the question. Every penny and decision...more
As the COVID-19 pandemic continues to unfold, many employers are faced with questions about the impact of economic changes and workforce reductions on their compensation and benefits arrangements. This alert is intended to...more
As the effects of the coronavirus (COVID-19) pandemic hit the United States, downsizings and shutdowns are spreading indiscriminately throughout the economy. ...more
As COVID-19 expands across the nation, so too is the number of laws aimed at addressing the pandemic, some with particular respect to employee benefits. As a result, employers are taking stock of their situation and examining...more
Coronavirus (COVID-19) raises serious concerns for employers of all shapes and sizes, across all industries and in every business sector. As the impact of COVID-19 continues to grow, many employers are faced with new...more
In light of the current COVID-19 health care crisis, employers are considering numerous options in the face of closed businesses and reduced income. These considerations include reducing employee work hours, furloughing...more
This past period of time has brought much uncertainty to the world as well as to employers with retirement plans that have been impacted by COVID-19. This advisory provides insights and guidance to consider for...more
Across the United States, employers are carefully considering how the COVID-19 pandemic is affecting their business. As we await further guidance and pronouncements from federal, state, and local officials, some employers are...more
On the Hill yesterday, Fed Chair Yellen acknowledged that the recent election would likely mean changes for the economy, but she said it was “too soon” to predict the nature of that economic impact at this time (though that...more