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Author: mcmgui Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: closed 401K plan Date: 5/16/2002 4:25 PM
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The company I work for was recently sold and the 401K plan was “frozen” except that we can move money within the allowed funds. We are told that the original owner of the company must get a determination letter from the IRS that the Plan is in order. Is this the usual procedure when a company is sold and a plan is closed out? The funds are frozen for 9 to 12 months!
Mcmcgui
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