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Posted

I received a phone call from a relatively small plan saying they sold their business and one of the requirements was the 401-k plan needed to be terminated before change of ownership.  What notice and in what time frame must be given to participants?  Is it possible to terminate even a small plan in a relatively quick period of time?  Any help is appreciated and any sample documents would be appreciated as well.

Posted

Most of the folks on this board are TPAs and would be providing the documents and advice requested for their client.  Does the plan have a TPA? 

Yes such a plan can be terminated, but  there are some follow up questions and nitty-gritty stuff that can only be answered by someone familiar with the plan.

Ed Snyder

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