I n the world of corporate mergers and acquisitions, attention is lavished on financial statements, contracts, intellectual property, real estate, and executive compensation. Armies of lawyers and accountants pore over every line item and clause, preparing due diligence binders thick enough to double as doorstops. But all too often, the company’s 401(k) plan— the retirement vehicle that impacts every rank-and-file employee—gets left behind in the fog of deal fever. It’s treated like an afterthought. A box to check, if that. Until the IRS or the Department of Labor (DOL) comes knocking, that is. I’ve been through this process more times than I care to count. I’ve worked with companies who thought they were buying growth and synergy but got a retirement plan compliance disaster as a side dish.
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