Examples of Employee Plans in a sentence
As soon as practicable after the Closing Date, Seller shall deliver to Buyer all material records and documentation relating to the Assumed Employee Plans and shall cooperate with Buyer, Buyer’s agents, and the fiduciaries of the Assumed Employee Plans to the extent reasonably necessary for Buyer, Xxxxx’s agents and the fiduciaries of the Assumed Employee Plans to carry out their duties with respect to the Assumed Employee Plans.
If the Service and the Plan Sponsor cannot reach agreement with respect to the submission, all aspects of the plan may be examined, and the Service may refer the submissionthe matter will be closed, the compliance fee will not be returned, and the case may be referred to Employee Plans Examinations.
If the Plan Sponsor does not send the Service the signed compliance statement (with the compliance fee) within 30 calendar days, the plan may be referred to Employee Plans Examinations for examination consideration.
This system, the Employee Plans Compliance Resolution System ("EPCRS"), permits plan sponsors to correct these failures and thereby continue to provide their employees with retirement benefits on a tax-favored basis.
At the election of Buyer, Seller shall, or shall cause its applicable Affiliate to, assign to Buyer all rights with respect to the Assumed Employee Plans and all rights with respect to the agreements relating to the Assumed Employee Plans set forth on Schedule 6.10(c).