Guest Solbesado Posted October 7, 2011 Posted October 7, 2011 We have a client who purchased a company earlier in 2011. The company they purchased maintains a non-safe harbor plan. They want to merge plans. We advised them to hold off on merging until 12/31/11 so that the Safe Harbor Status of the receiving plan isn't jeopardized in any way. The employees of the purchased company began participating in the Safe Harbor plan in June so nothing is actually going on in the other plan currently just waiting to be merged. Today the broker contacted us & told us the advisors for the purchased plan do not believe they can accomodate the transfer until April 2012.... How should we proceed? Can we do the merger resolution for 12/31/11 make sure the investment company for the purchased plan changes the name to the receiving plan and let the assets remain their until April??- I just want to make sure we are not jeopardizing the Safe Harbor status of the receiving plan in anyway but I'm thinking we would be okay doing that since everyone is already participating in the receiving plan & will get the 2012 Safe Harbor notice by 12/1. Thoughts? Any knowledge or experience shared is greatly appreciated. Thank you,
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