compliance.made.simple
We make ERISA compliance simple and affordable.
Wrap Plan
Wrap-Tight is our premier online service, consolidating all your ERISA benefits into a single, comprehensive Wrap Plan document, including an aligned Summary Plan Description (SPD). Access digital copies, benefit from our guidance on QMCSO administrative procedures, and follow our DOL Safe Harbor distribution instructions seamlessly.
Wrap Plan Consultative Services
Our Comprehensive Insurance Documentation & Compliance Service is an all-encompassing solution tailored to address the multifaceted needs of the insurance landscape. At its core, the service revolves around meticulous scrutiny and management of insurance-related documents such as Master Service Agreements, insurance contracts, and certificates and comes with a 12-month support.
SMM
The Summary of Material Modifications (SMM) informs participants about significant changes to their employee benefits plan and is mandated by ERISA to ensure transparency. Typically provided within specific timeframes after plan changes, the SMM keeps participants updated without redistributing the entire SPD, detailing the nature and impact of modifications.
Premium-Only-Plans (POP)
A Premium-Only Plan (POP) permits employees to use pre-tax dollars for insurance premiums, leading to reduced taxable income and increased take-home pay. This Section 125 plan not only benefits employees but also decreases an employer’s FICA and FUTA tax obligations. It offers a tax-saving opportunity for both employees and employers.
DFVCP
The Delinquent Filer Voluntary Compliance Program (DFVCP) initiative by the U.S. Department of Labor allows plan administrators to rectify late or missed Form 5500 annual reporting submissions at reduced penalties. By participating in the DFVCP, administrators can avoid potentially higher fines and secure compliance for their benefit plans.
Form 5500 and Extensions
Form 5500 is an annual report mandated by the U.S. Department of Labor and the Internal Revenue Service to provide information about a benefit plan’s financial conditions, investments, and operations. Required by ERISA, this form helps ensure transparency and compliance for employee benefit plans.
We have used ERISA Pros for many years to prepare our Cafeteria Plan documents. They are very thorough and detailed. They provide great customer service and education through every step of the process.
From our first contact with the ERISAPros team, we were impressed with their professionalism and knowledge, and the solutions they offered to produce a Wrap Plan document for our welfare benefit plans.
To be honest, your product is more thorough than I could have ever hoped…For the complexity and volume of work that this project entailed, this is impressive.
We are very pleased with the decision we made to retain the Platinum – Wrap-Tight tm services of ERISAPros…The discovery process that you and your team performed on the front end to learn the details of our plans was crucial to the success of the project.