Compliance Resources Services
We all want to feel safe. Employee Benefits Compliance is a significant concern for many Employers. There is pressure to have employee benefit plans fully compliant with all employee benefits laws, such as ERISA, COBRA, HIPAA, etc. Not being in compliance means an Employer could face fines, penalties, loss of tax favorable status, or even criminal charges. The Employee Benefits Security Administration (EBSA), a division of the Department of Labor (DOL), has been conducting extensive ERISA audits on pension and welfare benefit plans, and shows no signs of letting up. All plan administrators and individuals managing benefits must follow judiciary requirements, looking out for the best interests of participants while managing plans to comply with all regulatory guidelines. Careful attention should be given to ensure participants receive promised benefits. Compliant plans establish and maintain procedures in a financially fair and sound manner to avoid discrimination issues. They are also managed for the exclusive benefit of participants and beneficiaries, are prudent in executing duties and refrain from conflicts of interest.
To keep the Benefits you have with us in Compliance, NBI takes the following steps:
- Maintain CRM system digital Client Files housing all contract/data enrollment forms audit ready
- Compile and provide Required Benefit Summary of Plan Descriptions (SPD’s)
- Generate, host and communicate a comprehensive Benefits Notice--containing all required by law benefit related employee notices
- Monitor Employer COBRA Administration & State Continuation
- Create/Manufacture Required Employer Pre-Tax 125 POP Plan Document (updated annually)
- Create/Manufacture Required Employer ERISA WRAP Document (updated annually)
- Bernieportal creates 1094C / 1095C ACA Large Employer IRS Reporting with Printable Documents for mailing & filing
To learn about all Employer-related HR compliance concerns, even those not related to benefits, click here.
Our HRIS platform guides and supports Employers through the maze of HR Compliance.
For compliance resources, call our team at (817) 339-8977.