We have an employer with a new Profit Sharing 401k plan who recently closed out their DB plan. $25,000 in surplus DB assets have been transferred to a holding account in the PS 401k plan to be used towards the PS Employer Match. Does this $25,000 have to remain in a Money Market, or can it be invested in various securities - subject to the market's ups and downs.
Blinky the 3-eyed Fish
Nov 7 2002, 02:40 PM
There are no special restrictions in how the assets are invested.
Kirk Maldonado
Nov 7 2002, 03:58 PM
Why would you presume that it would have to remain in a money market fund? Is there some contractual language to that effect?