Andre3000

Companies B and C are subs of mothership A. The mothership has told Company B that one of its subs (call it D) has been transferred to Company C. Effective 1/1/15 D is no longer contributing to plan B and deferrals are going to plan C. The natives in sub D want their assets in the plan with Company C and out of the plan with Company B. Is C required to take all assets or just actives of those in D? Can ppts in D elect to keep their money in B if they so choose (I'm told B has a brokerage window and C does not)? It seems on paper that this should be pretty straightforward but C's RK is talking blackout on both sides. B's RK doesn't know this is happening yet either.

An addendum... the plan terminated on wednesday. payroll paid on friday and was processed on tuesday prior. we didn't know when the deal was going to close, so we had to keep everything in the system.

We're terminating our plan due to M&A. We stopped taking money 2 days before the last payroll, so contributions were withheld from paychecks and will need to be refunded during the next payroll runs. I'm not concerned about the weekly people, but for our semi-monthly and monthly payroll people, is there anything I should be concerned about as far as holding on to the contributions and accruing interest for half a month or a month? EE's will squawk, but I just want to confirm.