The 401(k) Problems With Former Employees

Ary Rosenbaum
Contact

I always say that the real reason I never hired employees for my law firm is that I was once an employee too. That means that no matter what my employer could do, there would probably be something I still would complain about. One of the lurking dangers in your 401(k) plan is former employees who still have account balances in your plan and my suggestion to you that as a 401(k) plan sponsor, you should minimize your liability exposure by trying to get these former participants to roll out their account balance and cash them out if they are under the cash-out provision.

LOADING PDF: If there are any problems, click here to download the file.

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.

© Ary Rosenbaum, The Rosenbaum Law Firm P.C. | Attorney Advertising

Written by:

Ary Rosenbaum
Contact
more
less

The Rosenbaum Law Firm P.C. on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.