The COVID-19 pandemic has led to “shelter-at-home” proclamations from state and local governments, causing many nonessential businesses to shut down temporarily. Employers have handled the crisis in varying ways, some by temporarily paying employees to stay home, others by laying off or furloughing workers. In such instances, employers need to be aware of the qualified retirement plan partial termination rules, which require immediate 100% vesting of accounts if a partial plan termination is deemed to have occurred.
