Board Resolutions: Qualified Retirement Plan Merger Approval
(Defined Contribution Plan) (Seller)

Summary

These board resolutions templates may be used to merge the assets of a seller's single-employer defined contribution plan into a buyer's plan following a corporate transaction. These resolutions are from the seller's perspective. This template contains drafting notes and alternate clauses. For a template to use to merge the assets of a seller's defined contribution plan into the buyer's plan from the buyer's perspective, see Board Resolutions: Qualified Retirement Plan Merger Approval (Defined Contribution Plan) (Buyer). For a template to use to terminate plan trust and recordkeeping agreements of the seller's plan following such a merger, see Board Resolutions: Qualified Retirement Plan Trust and Recordkeeping Agreement Termination. For more information on qualified retirement plan issues in corporate transactions, see Treatment of Retirement Plans in Corporate Transactions and Retirement Plan Treatment in Corporate Transactions Checklist. For a full listing of key content covering the treatment of employee benefits and executive compensation in the context of a corporate transaction, like a merger or acquisition, see Corporate Transactions EBEC Resource Kit.