Fringe Benefit Group
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Greenline Wealth Management
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Regional Sales Director (West) July Business Services
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TPA Retirement Plan Consultant EPIC RPS (TPA/DPS)
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Defined Contribution Account Manager Nova 401(k) Associates
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Defined Contributions Compliance Consultant Loren D. Stark Company (LDSCO)
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Great Lakes Pension Associates, Inc.
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Pollard & Associates
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Senior Specialist 401k Recordkeeping T Bank N.A.
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Retirement Solutions Specialists
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July Business Services
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July Business Services
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New York City District Council of Carpenters Benefit Funds
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Retirement Planners and Administrators (RPA)
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One Company in a Controlled Group Can Be Forced Out of a Single Plan?
BenefitsLink Message Boards Apr. 9, 2019
I have a group of three companies all previously owned by the same family (three brothers, owning all three companies jointly), which have operated a single 401(k) plan as a controlled group. They've sold 49% of one of these companies to an unrelated individual. They want to know whether they have the option of kicking the 51%-owned company out of the plan. I believe they can, but also think the successor plan rule would apply because they maintained the 401(k) after the acquisition. Does anyone have any thoughts?
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