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Merger

When one or more companies merge, it must be determined which of the companies is the acquirer and which are the acquirees. The TyEL insurance policies of the acquirees must be terminated and the employees transferred to the insurance of the acquirer. The acquirer must take out new TyEL insurance if the company previously did not have insurance.

If two or more companies merge to form an entirely new company, the old insurance policies of the acquirees must be terminated and new TyEL insurance must be taken out for the new company.

The pension fund of the acquirees is transferred to the insurance of the acquirer.

The insurance of the companies’ owners might also change as a result of a merger. Read about YEL insurance for the self-employed here.