Benefits Plan Documents
Too many employers offer employee benefits, but do not have the required plan documents. Without them, pre-tax deductions taken on behalf of the employees may not be legal! The plan description (formatted as required by the ACA) is not an acceptable substitute. Watch this elevator video blog for more information.
Please - do not disregard the risks of making pre-tax deductions without plan doc's! Also, be prepared to update your plan documents when you change your benefits plan or as regulations change. Think of it as a benefits handbook.
Check out our partner for benefits plan documents. They can even help with the ERISA plan document (ERISA Wrap)! Click here for help!