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The Supreme Court held 3/2/04 that a sole proprietor or sole shareholder of a business may qualify as a “participant” in a pension plan covered by the Employee Retirement Income Security Act of 1974 (“ERISA”). ERISA’s “text contains multiple indications that Congress intended working owners to qualify as plan participants.” Moreover, the Court reasoned, “Congress’ aim is advanced” by this reading: “The working employer’s opportunity personally to participate and gain ERISA coverage serves as an incentive to the creation of plans that will benefit employer and non-owner employees alike.” Accordingly, the Court held that “[i]f the plan covers one or more employees other than the business owner and his or her spouse, the working owner may participate on equal terms with other plan participants.” This case is important to all single-owner businesses that maintain ERISA plans.