A phased retirement program can help employers address workforce issues and help employees make a smooth transition, and it should include education and advice.
A nonprofit was allowed to file for bankruptcy and exit the Kentucky Retirement System, but a federal court has ruled it still owed contributions while bankruptcy proceedings were ongoing.
The ERISA Advisory Council is asking the DOL to issue guidance on plan sponsor use of these programs which reunite people with unclaimed property as often as 72% of the time.
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