how about:

select count(trans.cTrans_pk) as iAccounts_Count, ;
	step1.cUsGrLink_pk, ;
	sum(trans.yCurrent_balance_amount) as yBalance ;
	from trans ;
	INNER join ;
	(select TEQ.cTrans_fk, ;
	iif(not isnull(TEQ.cCommission_Owner_UsGrLink_fk), ;
	TEQ.cCommission_Owner_UsGrLink_fk, ;
	TEQ.cUsGrLink_fk) as cUsGrLink_pk from Employee_Queue_Schedules EQS ;
	INNER join Trans_Employees_Queues TEQ ;
	on TEQ.cTrans_Employees_Queues_pk = EQS.cTrans_Employees_Queues_fk ;
	where TEQ.iActive_Flag = 1 ;
	and EQS.iActive_Flag = 1  and ;
      and EQS.tScheduled_time <= m.ltTime 
	iif(not isnull(TEQ.cCommission_Owner_UsGrLink_fk), .t., ;
	(TEQ.iTemporary_Assignment_Flag = 1 and ;
	TEQ.tStart_Date <= m.ltTime and ;
	TEQ.tExpire_Date >= m.tdDate))) step1 ;
	on trans.cTrans_pk = step1.cTrans_fk ;
	where trans.cResolution_Codes_fk is null ;
	group by 2 into cursor (m.tcAlias) readwrite

with making sure that there is an index on step1.cUsGrLink_pk and
on TEQ.cTrans_Employees_Queues_pk and
on EQS.cTrans_Employees_Queues_fk and
on TEQ.iActive_Flag