Sr. Retirement Plan Administrator Tycor Benefit Administrators, Inc.
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Hessel & Associates, LLC
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United Benefit Pensions Inc.
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Aimpoint Pension
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Defined Benefit Plan Consultant Sentinel Benefits & Financial Group
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Nicholas Pension Consultants
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Junior Implementation Specialist - 401(k) Administration Ubiquity Retirement + Savings
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Retirement, LLC
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Site Manager / Senior Administrator Nicholas Pension Consultants
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Sentinel Benefits & Financial Group
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Compliance Analyst - 401(k) Administration Ubiquity Retirement + Savings
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Manager - Defined Contribution Plans M2B Retirement Consulting LLC
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Retirement, LLC
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MGKS
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NFL Player Benefit Office
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Question 264: What happens when one member of a controlled group has a profit-sharing plan and the other member has a SIMPLE (either 401k or IRA) plan? I thought an employer cannot sponsor a SIMPLE and a qualifed plan; how would aggregation apply to this controlled group situation? |
Answer: Work? It doesn't. Let me explain. In doing so, I will refer to my book, Who's the Employer?. (Subscribers can click to view online the text of references to sections in the book.) |
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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