ERISA Compliance: Wrap Plans and 5500 Filings
BPC will help your business stay compliant with government rules and regulations. One intent of the Employee Retirement Income Security Act (ERISA) is to ensure that employee health and welfare plans document the parameters and eligibility requirements for participation in the plan. A Wrap Plan is a single welfare benefit plan that can bundle some or all of your various health and welfare benefit plans into a single plan. It can benefit employers who need a Document and Summary Plan Description (SPD) to serve as an umbrella covering filing in vital ERISA components to any exiting plans or policies. This can also help employers who want to save time and money by considering annual Form 5500 filing requirements.
BPC Can Help
• We will help determine whether your plans are subject to ERISA
• We will evaluate existing plan documents for compliance with current ERISA standards
• We will prepare a Wrap Plan (if required)
• We will file Form 5500 for you each year, including the Summary Annual Report (SAR)