Committed to helping clients be ERISA Audit Ready.
Our goal is to help our clients avoid any potential penalties or problems arising from an audit and to help them maintain compliance with the law.
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What is ERISA?
If you received an ERISA Audit today, would you be ready? You will be with ERISA eSolutions.
The Employee Retirement Income Security Act (ERISA) is a federal law that sets minimum standards for most group insurance and retirement plans. The Employee Benefits Security Administration (EBSA) regularly conducts audits of benefit plans to investigate the plans and ensure compliance. Employers must maintain accurate records relating to their employee benefit plans. Under Section 107 of ERISA, all records related to government filings are retained and kept available for examination for a minimum of six years after the filing date.
Compliance with ERISA and related laws is highly complex. To make matters worse, Congress amends ERISA and other benefit-related laws, and the courts issue new decisions interpreting these laws nearly every year. According to the Department of Labor, 65% of EBSA civil investigations result in monetary recovery or other corrective action. ERISA compliance does not have to be confusing. While there are many requirements, ERISA Solutions can harness much of the burden.
ERISA Solutions provides a web-based Summary Plan Description (SPD) Wrap documents service that allows clients and their brokers to easily create, store and update summary plan description documents, as needed. The SPD Wrap creates one document and overall SPD required for all health and welfare benefits such as medical, dental, life, disability, FSA, etc.
Confused by endless governmental updates?
We have the ERISA solution that will keep you updated automatically.
We offer expert solutions with outstanding service! Specializing in SPD Wraps, required Participant Notices, 5500 reporting & ERISA eSolutions.