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The Difference between Schedule A and Schedule C

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This time of year, employers who have calendar year Form 5500 obligations, begin gathering information for their filing that may include Schedule As and/or Schedule Cs. Employers who sponsor ERISA plans that had 100 or more employees on the first day of the plan year are required to file a Form 5500 by the last day of the seventh month following the end of the plan year.
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Categories: Benefits in General, Compliance | Tags: Form 5500 , Schedule A , Schedule C , Wrap Plan
When it comes to ERISA compliance, employers and brokers frequently ask us: who is responsible for creating documents and SPDs, how is a wrap plan used to satisfy ERISA compliance, and what information must be provided to employees and when. To help navigate some of the more common myths and misconceptions surrounding when employers must have plan documents and SPDs for benefits they sponsor we have provided the following responses to some of the more frequently asked questions.
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Categories: Benefits in General, Compliance | Tags: ERISA , DOL , Wrap Plans , SPD , Summary Plan Description , Plan documents , 5500 , Compliance Services
When it come to ERISA compliance, many employers have misconceptions surrounding when they must have plan documents and SPDs for benefits they sponsor, who is responsible for creating documents and SPDs and what information must be provided to employees and when.
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Categories: Benefits in General, Compliance | Tags: ERISA , Wrap Plans , ERISA Compliance , SPD , Plan Document , DOL

Form 5500 Filing Tips-Who, When, What, How

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The Form 5500 is an ERISA requirement for all health and welfare plans. All private sector employers, including corporations, s corporations, LLCs, sole proprietorship, partnerships, and non-profits that sponsor insured self-insured plans subject to ERISA have a filing requirement if they are large plans with 100 or more participants in the plan as of the first date of the plan year.
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Categories: Benefits in General, Compliance | Tags: Form 5500 , IRS , EFAST2 , Wrap Plans , Health Care FSA , HRA , Insured Plans , 5500 Preparation , ERISA

ERISA Compliance: Wrap Plans and SPD Requirements

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ERISA, which is short for the Employee Retirement Income Security Act, is a set of federal laws designed to protect employees of private employers who provide pension, retirement, or profit-sharing plans; and private employers who provide insurance coverage. Wrap plans are a function of complying with ERISA’s plan document and summary plan description (SPD) requirements. Remember: Wrap plans are an easy way to create the companion ERISA language to the insurance certificates so that when dist...
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Categories: Benefits in General, Compliance | Tags: ERISA , DOL , Wrap Plans , SPD , Summary Plan Description , Plan documents , 5500 , Compliance Services
The recent Mull v. Motion Picture Industry Health Plan case (No. 15-56246 (9th Cir. August 1, 2017) illustrates the importance of complying with ERISA’s Plan Document and Summary Plan Description (SPD) requirements.
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Categories: Benefits in General, Compliance | Tags: ERISA , DOL , Wrap , Plan Document , SPD , Summary Plan Description , Mull v. Motion Picture Ind. Health Plan

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