Kentucky Trust Company
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Employee Benefits and Executive Compensation Associate Attorney Verrill
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Jr Retirement Plan Administrator/ Administrative Assistant Hochheiser Deutsch & Co, Inc.
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Plumbers Local Union No. 1 Benefit Funds
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Retirement, LLC
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Retirement, LLC
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Trucker Huss, A Professional Corporation
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Retirement Plan Relationship Manager ERISA Services, Inc.
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Carpenter Morse Group
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Administrator/Consultant (DC and DB) TPA Professionals
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Retirement Plan Documents Specialist Loren D. Stark Company
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Farmer & Betts, Inc.
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Retirement Plan Legal Specialist Pentegra
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Retirement Plan Administrator (TPA) Retirement Plan Consultants
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Pentegra
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RTD Financial Advisors
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EPIC: TPA/DPS
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Employee Benefits & Executive Compensation Associate Attorney Polsinelli PC
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Nicholas Pension Consultants
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EPIC Retirement Plan Services
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Bates & Company
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Question 266: I have an sole proprietor who owns 100% to two different companies, set up different tax IDs and operated completely seperate from each other. I am being told that if he offers a 401(k) to company A, he legally has to offer it to company B, and that if he does not want to offer the benefits to company B then each and every employee of company B would have to sign a waiver form. Is that right? |
Answer: No, it is not, but what you describe might be problematic anyway. 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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