For long-term management and convenience, we offer archive storage of all your plan documents. Clients also receive a comprehensive Federal Model Notice package, ensuring compliance for the Plan Year. Our commitment to keeping you informed is reflected in our annual legislative and compliance updates. Our pricing model emphasizes transparency and affordability with a flat-fee pricing structure instead of unpredictable hourly rates. Plus, when it’s time to renew, we offer our loyal clients a renewal subscription at a generously reduced investment.
5. Businesses Seeking to Attract and Retain Talent: Offering a comprehensive benefits package is a key tactic for attracting and retaining employees. A wrap plan helps to consolidate and manage these offerings more effectively.
6. Organizations Looking to Minimize Risk: Failure to comply with ERISA can result in fines and lawsuits. By consolidating benefit plans into a wrap plan, businesses can more easily ensure they meet ERISA documentation and disclosure requirements, thereby minimizing the risk of non-compliance.
7. Benefits Consultants and Brokers: These professionals often advise businesses on benefit offerings and compliance. They might recommend a wrap plan solution to their clients as a best practice for managing multiple benefit offerings and ensuring compliance.
In essence, a wrap plan solution is for any employer, regardless of size, that offers multiple employee benefit plans and seeks a more streamlined approach to managing, administering, and ensuring compliance for those plans.