Director of Pension Administration Primark Benefits
|
Aimpoint Pension
|
CMC Pension Professionals
|
Loren D. Stark Company
|
Jocelyn Pension Consulting
|
401(k) Retirement Plan Administrator Midwest TPA with Remote Workforce
|
Loren D. Stark Company
|
Primark Benefits
|
United Benefit Pensions Inc.
|
Hicks Pension Services
|
Senior Defined Contribution Account Manager Nova 401(k) Associates
|
Retirement, LLC
|
EPIC RPS
|
Retirement Plan Relationship Manager â DB or DC Focus Trinity Pension Consultants
|
MGKS
|
Manager - Defined Contribution Plans M2B Retirement Consulting LLC
|
Site Manager / Senior Administrator Nicholas Pension Consultants
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|
|
Question 149: A husband is the sole proprietor of a medical practice. His wife is the sole proprietor of another medical practice. They share employees and facilities and commingle profits and expenses. They have been operating as an affiliated service group and covering all employees under the husband's profit sharing plan. Husband and wife also own 50% each of a separate farming operation with 2 employees, which is unincorporated. Must they cover the employees of the farming operation under the husband's profit sharing plan? Is a SLOB an alternative? |
Answer: Let's first find out what we have. We know we have two sole proprietorships. The sole proprietors commingle income (I'm not sure what that means, but it sounds fascinating) and share employees, expenses, and facilities. It sounds like they actually have a partnership of which they are each equal partners. If so, then the two proprietorships (if there really are two separate proprietorships) are in an affiliated service group with the partnership. |
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.
Related links: |