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Successor Plan Problem When Starting New Plan Because Revenues Have Picked Up?
BenefitsLink Message BoardsLink to more items from this source
Dec. 10, 2021

"Have a client who had to wind down his business, terminated the firm's PS/401(k) plan (5 people, if that matters) in 2020. Last distribution was made 2/19/2021 and a final form has been filed. This was not related to COVID. Business has started to come around. They would like to adopt a Profit Sharing Plan for 2021. Would this violate the Successor Plan rule?"

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