WARNING: A storm is on the horizon
Employee Benefits compliance, with its labyrinth of rules and regulations, can be daunting. Even with the best of intentions, business owners and Human Resource executives can be overwhelmed trying to follow every detail and nuance of these complex laws on their own.
With a major crackdown under way, we recommend that organizations, regardless of size or current level of compliance, engage the services of a firm that specializes in legal compliance. Only with the assistance of professionals dedicated to sifting and sorting through the tangle of regulatory red-tape can your business find the shelter that will protect it from this storm.
Let the experts at American Benefit Partners, Inc. show you the way to peace of mind.
State laws, ERISA, DOL, ACA, COBRA, Section 125
Some of the many items that auditors will be looking for, regardless of your size, are Wrap Plan Documents, Summaries of Benefits & Coverage, documents identifying Plan assets, liabilities, revenues and expenses, Summary of Material Modifications, Summary Annual Report, and Initial COBRA Notices. Simply failing to meet one disclosure notice can result in a fine of $110 per day, per person or more.
