; or (bb) has wages or self-employment income from such trade or business that at least equals the working owner's cost of coverage for participation by the working owner and any covered beneficiaries in any group health plan sponsored by the group or association in which the individual is participating or is eligible to participate. (iii) The determination of whether an individual qualifies as a working owner shall be made when the individual first becomes eligible for participation in the defined contribution multiple employer pension plan and continued eligibility pursuant to this subparagraph shall be periodically confirmed pursuant to reasonable monitoring procedures. . (c) Bona fide professional employer organization Section 3 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002 ), as amended by subsection (b), is further amended by adding at the end the following: (44) (A) The term bona fide professional employer organization means a human resource company that contractually assumes certain employer responsibilities of employers who are clients of the organization (referred to in this paragraph as client employers ) and that meets all of the following requirements: (i) The organization performs substantial employment functions, as described in subparagraph (B), on behalf of client employers, and maintains adequate records relating to such functions. (ii) The organization has substantial control over the functions and activities of the multiple employer plan, as the plan sponsor (within the meaning of section 3(16)(B)), the plan administrator (within the meaning of section 3(16)(A)), and a named fiduciary (within the meaning of section 402). (iii) The organization ensures that each client employer that adopts the multiple employer pension plan acts directly as an employer of at least one employee who is a participant covered under the defined contribution multiple employer plan. (iv) The organization ensures that participation in the multiple employer pension plan is available only to