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Does anyone have a checklist or list of the documents, policies and/or procedures that a Benefit Office (Plan Administrator) should have in its possession? If you were organizing a benefit office, what documents should the Plan Administrator make sure they have in the office?

Thanks

Benjamin Smith

Senior Manager - Indirect Tax

Ernst & Young

317.681.7495

Benjamin.Smith@ey.com

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Guest mcapuano
Does anyone have a checklist or list of the documents, policies and/or procedures that a Benefit Office (Plan Administrator) should have in its possession? If you were organizing a benefit office, what documents should the Plan Administrator make sure they have in the office?

Thanks

If you are administering an employee welfare benefit plan, or plans, there are two primary functions to concern yourself with (1) New employees eligible to participate in the Plan and (2) Plan Participants and beneficiaries coming off of the Plan. The most imporant document at your disposal from which you will administer your duties as Plan Administrator is the Summary Plan Description (SPD). If your welfare benefit plan is self-insured, your third party administrator (TPA) will furnish the SPD and most often it's a consolidated document (booklet) that also serves as the employee's Certificate of Coverage (COC). If your plan is fully-insured, your insurance carrier will publish and provide the COC, but you must provide the SPD which in the case of a fully-insured plan is referred to as a SPD Wrap Plan Document. Most, if not all, employers, brokers and consultants are completely unaware of this requirement under ERISA 102 and CFR 29 2520.102-3. In addition, there are more than 15 ERISA required basic disclosure notifications that a Plan Administrator must either be aware of and/or provide. I have several documents that exceed the max upload capacity of BenefitsLink. If you would like to learn more about our services in this area, please call me at 330-430-1302 or write mark.capuano@huntington.com Regards, Mark Capuano

DOL_Benefits_Audit_Serivice_Pack_SPD_Plan_Wrap_Document.pdf

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Just off the top of my head.

What about:

Plan Documents for the various benefits.

Insurance policy and other provider contracts.

Provider information

Employee enrollment and change forms

COBRA notices and forms.

FMLA etc notices and forms.

George D. Burns

Cost Reduction Strategies

Burns and Associates, Inc

www.costreductionstrategies.com(under construction)

www.employeebenefitsstrategies.com(under construction)

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