What happens if my plan is terminated?
If your employer terminates the retirement plan:
- All participants become 100% vested, regardless of the normal vesting schedule.
- You are entitled to the full value of your account.
Employers generally must distribute plan assets within one year of termination.
You will receive communication outlining your options, which typically include:
- Rolling funds to another employer plan
- Rolling funds to an IRA
- Taking a distribution