This section is meaningful to “one-participant plans” that participate in the ABA Retirement Funds Program (the Program). Your plan can be considered a “one-participant plan” if, on the first day of your plan year, either:
- The sole owner of your firm is the only employee eligible to participate in the plan, or the owner and his/her spouse are the only eligible employees; or
- Your firm has multiple owners and those owners (or owners and their spouses) are the only employees eligible to participate in your plan.
Read on for important dates, regulatory developments, and ways the Program helps you out.
IMPORTANT NOTE: If you have employees other than your spouse or the spouse(s) of your co-owners who are eligible to participate in your plan, you must let us know. This will change your status. Call the Plan Administrator Line at (800) 752-6313. It is also important to notify us, at the number provided, if your firm is no longer in business.