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Plan Documents: ERISA, Section 125, SPDs, and Wraps, Oh My! - Webinar

  • ID: 4383203
  • Webinar
  • 90 Minutes
  • Online Compliance Panel
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Objectives of the Presentation:
  • What plan documents are required by ERISA?
  • How are these documents different than the documents I receive from my provider?
  • What are the requirements for these documents?
  • What is the difference between the ERISA documents and the Section 125 Plan?
  • Does ERISA apply to the Section 125 Plan?
  • What are the risks or penalties for noncompliance?
Why Should you Attend?

Compliance with plan documents is one of the top errors that both the Department of Labor and the Internal Revenue Service audit. Failure to amend plans timely, failure to properly distribute notices, and failure to follow the plan documents are all top compliance failures. Additionally, the rules are often not as well understood with health plans as they may be with retirement plans. This webinar will break down the plan document rules, so that plan sponsors, and those working with plan sponsors, will be able to work proactively and mitigate risk and compliance issues with respect to health plans.

Areas Covered:
  • Who is responsible for adopting, drafting, or amending these documents?
  • What are the distribution requirements for these documents?
  • What if I make a mistake in these documents? Is there a process for correction?
  • Do any of these documents affect filing requirements? Such as Form 5500s?
  • Are there any additional documents that I should be aware of?
  • What are the best practices that I should know?
Topic Background

Under the Employee Retirement Income Security Act of 1974 (ERISA), group health plans must be in writing. However, the plan may be composed of several documents - such as an insurance company's contract, a certificate of coverage, or a summary of benefits. However, these are not your legal ERISA plan documents. If you do not have an ERISA plan document and summary plan description, often called your wrap documents, your plan is out of compliance. Further, to have your employees' health plan premiums be deducted on a pre-tax basis, you must have a Section 125 plan (or a cafeteria plan) in place. This plan is separate from your ERISA plan documents.
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  • Thomas Nollner Thomas Nollner ,
    Banking AML/CFT Consultant ,
    Office of Technical Assistance, U.S. Treasury


    Tom Nollner has over 35 years of experience in the banking regulatory field. His experience includes 30 years as a National Bank Examiner for the Office of the Comptroller of the Currency, United States Treasury and 5 years as an international banking consultant. He has a proven track record in assisting financial institutions regarding capital adequacy, asset quality, management issues, earnings concerns, and liquidity. In addition, Tom is a consumer specialist focusing on developing and instituting risk management processes, and in implementing anti-money laundering related programs and policies.

    Tom has developed and presented numerous training programs focusing on banking issues, to regulatory authorities, government bodies, and the staff of financial institutions in countries in North America, Asia, the Middle East, the Caribbean, and South America. In addition, he has developed banking policies and examination procedures for regulatory authorities, and assisted Financial Intelligence Units and Central Banks with improving existing banking laws and regulations.

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  • Human Resource Managers, Executives
  • CFOs
  • In-House Counsel
  • Employee Benefits Advisors
  • Health Plan Advisors / Brokers
  • CPAs
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