Guest bjschiedel Posted July 27, 2004 Posted July 27, 2004 Background: Large plan, acquires new division with it's own plan through an asset purchase. Acquired plan has 6 NHCEs with loans, but will me terminated by way of the merger. Acquiring plan does not permit loans, never has and does not intend to. Questions: Can it accept the rollover of the loans and let the 6 people pay them off within the original loan terms but grant no further loans??? Or, must the loans be paid off or distributed with penalties b/c the acquiring plan does not permit loans???
WDIK Posted July 27, 2004 Posted July 27, 2004 Related discussion for your reference. ...but then again, What Do I Know?
QDROphile Posted July 27, 2004 Posted July 27, 2004 Tell us more about the plan that has the loans. It will "terminated by way of the merger." What is merging? If plan A merges into plan B, loans in plan A are preserved in plan B.
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