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Hi. We are adopting a wrap plan, but I am a bit unsure of the logistics. Here is my thinking on how to handle this: 1. Adopt a resolution for the new wrap plan. In that resolution, I was thinking of including a discussion of how the existing welfare benefits are being incorporated into the wrap. I don't want to adopt a separate termination resolution for those benefits as I worry about confusion in using the term "termination." 2. Select a three digit plan number for the new wrap. Is there some application to obtain this number? Or is it merely selecting a number available that starts with a "5" when looking at the employer's other welfare plans? 3. File final 5500s for the existing welfare benefits. Then going forward, the wrap will file a 5500. Does this all sound reasonable? Am I forgetting anything? Thanks.
