Lucky32 Posted December 10, 2021 Posted December 10, 2021 This may be basic but I just wanted to make sure no employees get inadvertently excluded. Company A is 100% owned by John; Company B is 100% owned by Fred; John and Fred each have 50% ownership in Company C. All three companies refer business to each other and work together in providing services to common clients. If Company A wants to sponsor a qualified plan, all three companies would be members of an ASG and would have to all be covered by Company A's plan - is that correct?
CuseFan Posted December 13, 2021 Posted December 13, 2021 Unless it's a management group relationship, you need some ownership overlap for an ASG, so you most likely do not have an ASG. Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
Lucky32 Posted December 13, 2021 Author Posted December 13, 2021 So then only Companies A and C would be members of an ASG, as none of the companies provide management services.
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