TPA Critical to 401k plans during Mergers and Acquisitions
Alison Cohen, Esq., a partner and compliance guru at Ferenczy Benefits Law Center, an Atlanta firm focusing on the practical issues affecting retirement plans, discusses how third-party administrators (TPAs) can be critical when organizations acquire or merge with others.
In one case, because the TPA was brought in early, senior executives from the acquired company avoided significant penalties on outstanding loans.
In another case, when the TPA was not included early, extra time and money were spent to clean up a toxic plan that could have been avoided.
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