Guest rim Posted October 14, 1999 Posted October 14, 1999 If a profit sharing plan is taken over in a transaction and the new company does not plan to make contributions but has tactical reasons to keep the plan going for some period of time (ie, 3 years) and then the new company plans to terminate the plan- can the company wait until after the 3 years have past to vest the participants, or is immediate vesting required?
Ervin Barham Posted October 15, 1999 Posted October 15, 1999 Full vesting is generally required upon a discontinuance of contributions. Code Sec. 411(d)(3)(B).
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