ERISA is a concept that is intimidating to many, but it really should not be. ERISA has been around since 1976 as the primary federal law governing group-sponsored employee benefit plans. ERISA provisions not only protect employee participants, but they also protect employer plan sponsors. As ERISA experts, our goal is to provide simple and effective solutions for employers.
Since a basic requirement for employer sponsored health and welfare plans is that each benefit needs a current and compliant Summary Plan Description (“SPD”)…we may as well make it easy.
Wrap SPDs serve two basic purposes:
- Supplement the annual carrier/TPA booklet for participants so that ERISA’s SPD content requirements are met.
- Where applicable for large employers, consolidate multiple group benefits into a single ERISA plan (plan name, plan number, specific benefits) to allow the employer to file a single Form 5500 rather than separate filings for individual benefits.
Simple Wrap SPD is quick, affordable, and effective.
Single Document
We utilize a single document to represent two ERISA requirements-the Plan Document and Summary Plan Description (“SPD”)-for ease of use and maintenance by employers. This is not a template service; our ERISA analysis includes a review of all current health and welfare benefits plus any past or present Form 5500 filings.
Our document is drafted by experienced benefits attorneys, and the Wrap is customized for your organization and reviewed by a compliance specialist prior to sending it to you.
Low Flat Fee
A flat fee of $350 applies as a one-time document charge for a single, consolidated ERISA Wrap SPD that includes two or more group benefits subject
to ERISA. The fee includes assistance with instructions for execution and distribution to plan participants.
Additional related services available upon request.
Addition
al related services are available upon
request.