PensionNewbee
Apr 7 2003, 12:11 PM
how is a multiple employer plan audited for ERISA purposes? Is it audited by participating employer over 100 or is it audite based on the total number of participants regardless of employer?
Archimage
Apr 7 2003, 01:48 PM
If memory serves me correctly, you would base the audit requirement on total number of participants regardless of employer. You will have one 5500 with X number of Sch. T's. The 5500 participant count will include all participants that are benefitted by the plan.
PensionNewbee
Apr 7 2003, 02:02 PM
RATS. Even if the companies are not related at all, but for the fact that they participate in a master trust?
Kala
Apr 7 2003, 02:23 PM
I agree. You are counting PLAN participants, not employees. Does the 80-120 rule help you at all, or did they require a plan audit last year as well?
PensionNewbee
Apr 7 2003, 03:41 PM
it's a PEO trying to decide whether to become a multiple employer plan. It required an audit last year. Rats.
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