distribution of assets after termination

[Scuba 401]

i remember hearing once a plan had to be paid out a certain amount of time after termination. does anyone know that time or the place where this was stated?

[Guest Sieve]

If a plan's assets aren't zeroed out within 1 yr of plan termination, then the plan must continue to meet language requirements and be amended as necessary. But, I have no idea where the IRS official word can be located.

Assets in a DB plan must be distributed within 180 days after the end of the PBGC's 60-day review period, or, if later, 120 days after receipt of a favorable determination letter (if the IRS application was submitted on or before the date of the PBGC application).

[PMC]

Rather than distribute assest to participants upon Plan termination, can the Plan fiduciary decide to transfer the terminated plans' assets to another Plan? Co. A purchased Co.B and Co. B's plan is terminating. Rather than distribute Co. B assets to participants can the fiduciary simply transfer to Co. A plan?

[Bird]

Rather than distribute assest to participants upon Plan termination, can the Plan fiduciary decide to transfer the terminated plans' assets to another Plan? Co. A purchased Co.B and Co. B's plan is terminating. Rather than distribute Co. B assets to participants can the fiduciary simply transfer to Co. A plan?

Not if the plan is terminated. The plan could instead be merged into one of the other plans.