A qualified plan that benefits employees of more than one employer , providing those employees are not included in a unit of employees covered by one or more collective bargaining agreements.
- The minimum participant standards is applied as if all employees of each of the employers were employed by a single employer.
- The minimum vesting standards and the benefit accrual requirements is applied as if all such employers constituted a single employer, except that the application of any rules with respect to breaks in service shall be made under regulations prescribed by the Secretary.
- The minimum funding standard provided by the minimum funding standards is determined as if all participants in the plan were employed by a single employer
IRC § 1060, 29 CFR 2530.210
Additional Helpful Information
- Not be confused with a multiemployer plan