tax memo.
Earlier this year, The Happy Mart, Inc. moved its corporate headquarters from Davenport, Iowa to Jonesboro, GA (a suburb of Atlanta). At the end of 2018, the company had 400 employees in its Davenport headquarters, all of whom were participants in its pension plan. As a result of the move, 101 jobs were eliminated. 28 employees were offered jobs in Georgia, but choose not to take them. 25 of these employees were not vested in their retirement benefits, 3 of them were. These jobs will be replaced in Jonesboro by the end of the year. 29 employees were eligible for normal retirement, and chose to retire rather than move. The remaining 44 jobs were eliminated as part of efficiency measures associated with the move. Of the 44 employees whose jobs were eliminated, 35 of them were not vested in their retirement benefits. Dorothy Anderson, The Happy Mart’s CFO, wants to know it the company had a partial termination of its retirement plan?
Requirements:
1- Memo format as the sample attached
2- You must use Westlaw
3- you should understand that your discussion should cover some of the consequences of the rule of law. You must use Westlaw on this one.
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FACTS
The Happy Mart, Inc. moved its corporate headquarters from Davenport, Lowa to Jonesboro, GA (a suburb of Atlanta). As at December, 2018, the Company had 400 employees located in their headquarters in Davenport and who were all participants in the pension plan. The move resulted to elimination of around 101 jobs.
(551 words)