Retirement Plan Relationship Manager ERISA Services, Inc.
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Compass Retirement Consulting Group, Inc.
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Defined Benefit Calculation Specialist/Actuary The Angell Pension Group, Inc.
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Jr Retirement Plan Administrator/ Administrative Assistant Hochheiser Deutsch & Co, Inc.
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Retirement Plan Legal Specialist Pentegra
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United 401(k) Plans, Inc.
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Retirement, LLC
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Nova 401(k) Associates
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Central Pension Fund of the IUOE
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Carpenter Morse Group
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Central Pension Fund of the IUOE
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Trucker Huss, A Professional Corporation
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Bates & Company
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Prime Pensions, Inc.
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Nicholas Pension Consultants
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Question 120: Companies A, B and C are in an Affiliated Service Group. Company A currently has 100 employees and a 401(k) plan that covers only employees of Company A. Company C has 2 employees and a SIMPLE IRA plan that does not cover the employees of Company A. Is the SIMPLE IRA plan in trouble for not covering the employees of Company A? (Company A does not desire to participate in the SIMPLE Plan.) This ASG has been in existince for about a year. |
Answer: Yes, the SIMPLE is in trouble, or shortly will be. |
Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.
The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.
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