Anne Greene wrote an article about three types of benefit plan documents that are often pushed to the back of the file box without review and sometimes altogether forgotten. Although changes to medical benefit elections and 401(k) contribution issues often dominate discussions with employee benefits counsel, ensuring compliance for benefits plans has its foundation in careful review of written plan documents, descriptions, programs, and policies. Benefits programs are governed by rules and regulations set forth in the Internal Revenue Code (the Code) and the Employee Retirement Income Security Act (ERISA), which control administration of programs but also contain requirements for the written plan materials. Ensuring that your company’s documents are up to date will save headaches, time, and money for both the company and employees.
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