How Will
Admin America Help Us Set Up a POP Plan?
Everything
you need to install your POP will be provided for you. Your
POP package will include:
A Custom Plan
Document
One requirement of
Section 125 is for the plan to be in writing with all
provisions described in sufficient detail. The Plan Document
which ADMIN AMERICA provides is complete and ready for
signature following review by your legal counsel.
A Custom Summary
Plan Description ("SPD")
The Department of
Labor requires that an SPD be distributed to all participating
employees. The SPD is written in an easy to understand
question and answer format which explains the POP to your
employees. This makes it easier for you and saves you time in
implementing the Plan.
A Master
Election Form
Section 125 requires
employees to make an election to participate in a Flexible
Benefits Plan. ADMIN AMERICA will provide materials for
employees to make their election to participate in the POP or
waive participation accordingly.
Non-Discrimination Testing Assistance
All Flexible
Benefits Plans such as the POP are required to comply with
the non-discrimination requirements of Section 125. ADMIN
AMERICA will conduct non-discrimination testing for your
first Plan Year at no additional charge upon being provided
employee premium information by the employer. ADMIN
AMERICA will notify the Employer when the required
information needs to be provided and will provide the forms
necessary to transmit the information to ADMIN AMERICA.
In addition detailed instructions will be provided as a
guide for completing future non-discrimination tests. |
