A variety of federal laws govern health and welfare plans, and employers are often required to file forms and distribute information to employees to comply.
As part of The Wladis Companies, Inc. commitment to being your advocate, your dedicated service team will help you keep track of major filing dates and other deadlines.
Managing legal requirements can be overwhelming and labor intensive. And with the new federal health care law taking effect, it is more complex than ever. But when you are a client of The Wladis Companies, Inc., you’ll have support for these critical tasks.
For additional information about employer compliance requirements, please visit our Helpful Resources page or contact our office.
Summary Plan Description (SPD) Preparation Services
The Employee Retirement Income Security Act (ERISA) requires all employers who sponsor a health and welfare plan to provide participants with a Summary Plan Description (SPD) describing their rights, benefits and responsibilities under the plan in understandable language.
The SPD is an important document because it tells participants what the plan provides and how it operates. It also provides information on when an employee can begin to participate in the plan, how service and benefits are calculated, when and in what form benefits are paid and how to file a claim for benefits.
It is now more important than ever for employers to have their written plan documentation in place. Not having the required ERISA documents can leave a plan sponsor vulnerable to possible penalties and fines, Department of Labor (DOL) audits and participant lawsuits. To protect our clients, The Wladis Companies, Inc. uses Plan Doc Builder software to create easy-to-read, ERISA compliant plan documents and SPDs.
Contact our office to learn more about our SPD preparation services.