Spinoff from MEP

[30Rock]

A participating employer in a multiple employer plan withdraws from participation and starts a "new" plan as a single employer. If assets from the MEP are transferred to the new plan, do you have to protect benefits? IF it is part of a sale/acquisition such that there is a distributable event - ie termination of employment and then hired by new entity and rollovers go into new plan, I assume the answer would be different?