10 Things Every Broker Should Know About Benefits Documentation

Protect your clients from the compliance gaps hiding in their benefits documentation.

Most employers believe their benefits documentation is complete, but most are wrong. Penalties for missing or incomplete plan documents run up to $110 per day for failing to provide documents on participant request, and up to $195 per day when a client can’t produce records during a Department of Labor (DOL) audit. This guide covers what every EB broker needs to know to identify the gaps before they become a problem.

Read the guide to discover:

• Why carrier booklets alone don’t satisfy ERISA’s written plan requirements, and what a wrap document actually covers
• What happens to pre-tax benefit elections when a Section 125 plan document isn’t adopted before the plan year starts
• What a DOL auditor asks for first, and how clients without documents face penalties of up to $195 per day

CTA: Download 10 Things Every Broker Should Know About Benefits Documentation and get ahead of your clients’ compliance gaps before the DOL asks.