MEWA - common control

[Guest Wineman]

ERISA section 3(40)(B)(iii) explains how to determine whehter two or more trades or businesses are treated as employed by a single employer for purposes of a MEWA. The very last section of the parargraph indicates that "except that, for purposes of this paragraph, common control shall not be based on an interest of less than 25 percent." Can anyone explain what the "less than 25 percent" is referring too?

------------------