In the wake of the COVID-19 pandemic and the resulting economic uncertainty, many small employers are faced with decisions that could have significant impacts on their employer-sponsored retirement plans. While some have had to resort to outright layoffs, many employers are turning to unpaid leaves of absences and furloughs as a way to scale back on costs temporarily while maintaining a connection to employees they will rely on once they are able to restart normal business operations.
Layoffs, indefinite unpaid leaves of absence and furloughs can present complex administrative issues for many common employee-sponsored retirement plans. Download the document to learn about the two ways furloughs and layoffs could impact 401(k) plans.
This material is provided for informational and educational purposes only. You should not assume any discussion or information contained in this newsletter serves as the receipt of, or a substitute for, personalized investment advice. Due to various factors, including changing market conditions and/or applicable laws, the content of this newsletter may no longer be reflective of current opinions or positions. Please remember that past performance may not be indicative of future results. There can be no assurance that any specific investment, investment strategy, or product will be profitable, equal past performance, or be suitable for you. Contact Everhart Advisors in writing if there are any changes in your personal or financial situation or investment objectives that would be material to our evaluating our previous recommendations, or if you want to add or modify any reasonable restrictions on your account.
This material was created to provide accurate and reliable information on the subjects covered but should not be regarded as a complete analysis of these subjects. It is not intended to provide specific legal, tax, or other professional advice. The services of an appropriate professional should be sought regarding your individual situation.
Client Login
