Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Bates & Company, Inc.
|
Loan & Distribution Specialist AimPoint Pension
|
AimPoint Pension
|
Compass
|
Regional Vice President of Sales The Retirement Plan Company
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Coverage Testing When Spouses Each Own a Business
Retirement Management Services July 18, 2014 "Suppose a husband and wife each own separate, unrelated businesses. If [certain exceptions] are met, each individual will be considered to have sole ownership over their respective companies, without any attribution of ownership to the spouse.... However, when the spouses in question have a child under age 21, the exceptions ... won't matter because a controlled group will be deemed to exist due to the fact that the minor child is attributed stock in each company ... If both companies are considered part of a controlled group because of the child's ownership, it may be difficult to demonstrate compliance with the 70% coverage testing if only one company is providing retirement benefits to its employees." |
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |