Cash balance plans are like traditional defined-benefit pension plans with a 401(k) or profit sharing component.
A group of controlled corporations, or trades, or businesses under common control. The control is based on the percentage of ownership of a corporation or trade or business. There are intricacies involved in determining whether your company is part of a controlled group. Please consult your legal consultant regarding your firm’s status, since this could have an impact on the qualified status of the retirement plan(s) that you sponsor.
Questions to consider: