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November 21st, 2023
Information & Insights for the 403(b) Community
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Ask the Experts
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Can a Terminated Employee Roll Over Assets To a Sister Company's Plan?
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Q: We sponsor a 401(k) plan. We have an employee who terminated and was subsequently hired by a sister company (we are both subsidiaries of the same parent, but we have separate 401(k) plans.) The employee has requested a rollover from our plan now that she has been hired by our sister company. Since the employee has terminated with our company, are we allowed to let her roll over her money?
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Don't miss your chance to participate in PLANSPONSOR's DC Survey!
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PLANSPONSOR’s annual DC Survey is closing soon. Be a part of the most widely used benchmarking data for the defined contribution retirement plan marketplace. Eligible plan sponsors that participate in the survey will get a free copy of an industry report that can be useful for plan benchmarking.
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Help Your Plan Adviser Get Recognized
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Do you work with a great plan adviser! Nominate your plan adviser today for the 2024 Retirement Plan Adviser of the Year awards. Nominations for the Plan Sponsor Service, Plan Participant Service and 403(b) Plan Service categories can only come from plan sponsor clients, so we need your help in identifying the best in the business.
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