Large Bank Merger.... Take the $ and run?

[K-t-F]

I dont have too many specifics but was asked this question.... in general...

If one company is merged/purchased with/by another company and the plans are merged... I was told no but, do the participants of the plan being merged into the purchasing company plan have the option to take a distribution instead of just rolling their balance into the new plan?

I ask because a question came up that maybe the investment choices in the new plan are not desired by the participants of the plan being merged.

Thanks

[JanetM]

If the plans are being merged the participants don't have distribution options. Their account will transfer to new plan and stay there until there is a distributable event.

[K-t-F]

that's what I was told... Thanks