Worker Adjustment And Retraining Notification Act (WARN)

Definition of "Worker adjustment and retraining notification act (WARN)"

Federal law, effective February 4, 1989, that requires company notification of employees prior to laying them off or closing a plant or an office. Workers covered under WARN are to include office workers, field representatives, agents, managers, and any other employees of insurance companies. To be affected by WARN, the company must employ at least 100 full-time employees. Part-time employees are not included in the 100 full-time employees count unless the total hours worked per week by all employees is at least 4000 hours. WARN requires the company to notify its employees of impending layoffs when one or more of the following circumstances occur: At least 500 employees are terminated or laid off during a 30-day period; At least 50 employees are terminated or laid off, comprising at least 33% of the total employment force, during a 30-day period; A plant or an office is closed, whether on a temporary or permanent basis.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Funds paid by an insurance company associated with the normal costs of doing business other than the costs of claims payments. ...

Act that makes the liability cost for cleanup joint and several. Even if a party is only partially responsible for losses inflicted, that party may be liable for the payment of the total ...

Management philosophy developed by W. Edwards Deming, the thesis of which is the continuous improvement in quality through research in customer satisfaction and the empowerment of ...

Authority of states to tax the insurance companies they regulate. States levy income taxes, real and personal property taxes, and special levies, the most important of which is a premium ...

Crime against the state for which an officer of the state can bring legal action. Society is harmed by an individual breaking the laws of the state. Usually there is no statue of ...

Insurance for which premiums are charged according to the size of the face amount of the policy, so that the greater the face amount, the lower the cost per $1000 unit of insurance. ...

Securities that derive their value from other financial instruments that are used by the insurance company to hedge its bets on which direction the market is moving. For example, cattle ...

Same as term Occurrence Basis: coverage, in liability insurance, for harm suffered by others because of events occurring while a policy is in force, regardless of when a claim is actually ...

transfer of money from or an employer-sponsored pension or other qualified plan into an INDIVIDUAL RETIREMENT ACCOUNT (IRA) with out paying tax on the distribution. transfer of money from ...

Popular Insurance Questions