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Can Higher Than Normal Turnover Affect my 401(k) Plan? | Part 3 of 3: The Results

DWC 02/19/19
QOTW - 2.19.2019 - Can Higher Than Normal Turnover Affect My 401k Plan - 2 of 3 - Plan Compliance
Facts In last week’s QOTW, you provided some tools we could use to identify which participants were affected by our decision to close one of our locations, and to calculate our actual turnover rate for purposes of  determining whether a partial plan termination has occurred. We’ve performed the review, and our minimum turnover rate will exceed ...
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Can Higher Than Normal Turnover Affect my 401(k) Plan? | Part 2 of 3: Doing the Math

DWC 02/12/19
QOTW - 2.12.2019 - Can Higher Than Normal Turnover Affect My 401k Plan - 2 of 3 - Plan Compliance
Facts Last week, we asked whether the turnover we are expecting as a result of closing a facility would have any impact on our 401(k) plan, and you mentioned a partial plan termination.  We have some follow-up questions.  As a quick recap, we are in the process of closing one of our manufacturing facilities.  Some of those working at that location ...
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Can Higher Than Normal Turnover Affect my 401(k) Plan? | Part 1 of 3: Overview

DWC 02/5/19
QOTW - 2.5.2019 - Can Higher Than Normal Turnover Affect My 401k Plan - 1 of 3 - Plan Compliance
Facts Our company designs and manufactures boats.  Due to some advancements in technology, we will be closing one of our older facilities.  While we offered those workers the option to relocate to one of our other facilities, many have elected not to do so and will be terminating employment.  That group comprises roughly 20% of our total workforce.
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The views expressed in this blog are those of the authors and do not necessarily represent the views of any other person or organization. All content is provided for informational purposes only and is not intended to be tax or legal advice.

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