Multiemployer 401(k) Plan

[Guest SPollock]

I have been asked by a local Chamber to research the possibility of developing a multiemployer plan for their small business members. My understanding is that multiemployer plans are mainly for unions and trade organizations. Could a local Chamber establish a multiemployer plan for their members? Could a local Dental Society establish a multiemployer plan for their members?

If the answer is YES, are there any limitation? Thanks for the assistance!

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[Guest bswift]

you might be thinking of a "multiple employer" 401(k) plan, which you certainly could do. A multiemployer plan probably won't work in your situation. A multiple employer plan is simply a plan that is sponsored by 2 or more unrelated employers. each has to file separate Form 5500s and pass the tests on an employer-by-employer basis. See Code Section 413©. hope that helps.