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What Do You Do with the SIMPLE IRA Sponsored by the Company You Just Acquired?

DWC 11/5/19
Facts My company recently acquired another firm. As we work to combine all of our operations, we’ve discovered a few differences in our employee benefits, specifically our retirement plans. While we’ve sponsored a 401(k) plan for several years, the company we bought has a SIMPLE IRA. I’ve done a little research and found that when a company offers ...
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Can Employees from a Former Subsidiary Take a Distribution from our 401k Plan?

DWC 03/12/19
Facts Our company has several wholly-owned subsidiaries, and each of them has signed onto our 401(k) plan as participating employers. We sold 100% of the stock of one of those subsidiaries – Glen’s Fiddich, LLC – to an unrelated company. As a result of the sale, Glen’s Fiddich is no longer related to us and has discontinued participation in our ...
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Here's What Happens to Your 401(k) After a Company Merger or Acquisition

DWC 07/12/18
Corporate mergers and acquisitions can be stressful. When employees hear that their company is part of such a deal, they instinctively worry about their jobs. Even with reassurances that there's no need to worry about layoffs any time soon, employees should expect changes in their benefit plans, particularly their 401(k)s or other retirement ...
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Can I Keep My Retirement Plan After I Sell My Business?

DWC 12/12/17
Facts I recently sold my business, and all of my employees went to work for the buyer. My goal is to continue working for a period of time, but I do not expect to hire any more employees.
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How Do We Report a Plan Merger on Form 5500?

DWC 11/7/17
Facts Our company sponsors two separate 401(k) plans, each of which covers a different group of our employees. Due to some internal changes, we now want to merge those plans so that we only have a single plan, covering all of our employees.
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The views expressed in this blog are those of the authors and do not necessarily represent the views of any other person or organization. All content is provided for informational purposes only and is not intended to be tax or legal advice.