Guest A125 Posted October 22, 2010 Share Posted October 22, 2010 Company A purchased Company B via an asset sale in July 2010. Company B employees became employees of Company A on the acquisition date. Company B did not have a retirement plan. Company A has a 401(k) plan with immediate eligiblity and entry date. Agreement is for acquired employees to begin participation under Company A's plan 1/1/2011 with vesting service counted from July 2010. My question is: can we amend the plan now to provide that acquired employees begin participaiton on 1/1/2011 or should it have been done prior to the sale? Is an amendment even necessary if the sale documents provide for participation as of 1/1/2011? (I know an amendment is necessary for vesting service). Thanks for any input! Link to comment Share on other sites More sharing options...
rcline46 Posted October 22, 2010 Share Posted October 22, 2010 Based on what you posted, CO. B's employees became eligible on the day they began working for Co. A. Link to comment Share on other sites More sharing options...
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