ERISA Wrap Documents - Low Cost and Headache Free Compliance.
Did you know that under ERISA employer-sponsored welfare benefit plans, such as group health plans, must be described in a plan document? In addition, employers must explain plan terms to workers in a summary plan description (SPD). Unfortunately, most insurance carrier certificates or benefit booklets do not satisfy ERISA’s content requirements. Failing to comply can be costly for employers - $110 per day fines, benefit lawsuits, and DOL Audits. But, don't worry, Spectrum can help. Our ERISA Wrap Documents provide employers with a low cost and headache free solution to ERISA Welfare Benefit compliance.