ERISA - Plan Info FAQs
NFW-3840AO, NFW-3847AO

Plan Information FAQ

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We have a controlled group/multiple employer question. We have three car dealerships all owned differently. Dealer A is owned by father at 49% and (1) child at 26.5% the (2) child at 24.5%. Dealer B is owned by father at 51% (1) child at 24.5% and (2) child at 24.5%. Last dealership is owned 51% by dad and (1) son at 29% and (3) son at 20%. How are we supposed to test 1 controlled group 2 controlled group and they are all under one plan should it be a multiple employer plan?

There are two companies, both under common ownership of one larger holding company (with enough ownership of both smaller companies to constitute a controlled group).
Can one of the smaller companies offer a 401(k) profit sharing plan, but the other not offer a retirement plan? The other smaller company does not want to incur the cost?

What nondiscrimination tests are required for 403(b) plans and how do they differ from the tests required for 401(k) plans?

Who is responsible (plan sponsor, participants, TPA, etc.) for making sure RMDs are distributed by the required deadlines for current/terminated participants with a plan balance?