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.

单词	unemployment compensation amendment of 1992
释义	Unemployment Compensation Amendment of 1992 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.
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