In a stock sale Merger - I have a few questions about the mapping process for seller assets
1. if you map like-to-like - are the affirmative investment elections and the corresponding documentation from the seller plan still acceptable if the buyer plan is DOL audited post merger- does the buyer need new affirmative election forms when the plans are merged?
2. if the seller plan was 404© compliant (assuming buyer plan is also) are the assets still protected under 404c? what if you don't have affirmative election documentation from seller plan? - essentially- if you don't have the documentation- can you lose the protection for the assets that came over?
Always advocate for QDIA mapping- because of the protection and it creates affirmative elections for anyone that opts out - but some push for like-like to minimize participant disruption.
Thanks for any help. Happy Thanksgiving