Belgarath Posted October 23, 2015 Posted October 23, 2015 I have so little information at this point that I'm not certain I'm even asking the right question. However, I'll give it a shot. Not our plan, and thankfully won't be. A town sponsors a defined benefit plan. One participant is a union employee, and potentially the town wants to transfer him (and his assets) out of the plan so he can join some sort of state munipical employees plan. He'll still be working for the town, and has not reached Normal or Early retirement age. Assuming the state plan allows such a thing, is he permitted to transfer his accrued benefit lump to the state plan to "buy" service credits, etc.? If the town plan does not provide for such a thing (if it is even permissible in the first place) I assume it could be amended. Seems to me that it might be easier to just amend the town plan to exclude members of whatever union is involved, but I don't know about this whole purchase of service credits and transferring assets. This out of my sphere of knowledge or experience.
Belgarath Posted October 23, 2015 Author Posted October 23, 2015 Ignore this please. Actual question turned out to be something much different!
AndyH Posted October 26, 2015 Posted October 26, 2015 I was actually interested in the answer. I don't know how this typically works either.
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