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Unemployment Compensation Amendment of 1992 |
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Unemployment Compensation Amendment of 1992 Legislation in the United States that requires employers terminating an employee to allow the employee to take all employer-sponsored retirement savings and place them in the qualified retirement plan of the employee's choice. This allows the employee to keep the money he/she has saved and invested while at the company. The employee may also receive the savings directly, but the employer must then pay a 20% penalty tax on of the savings. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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