ERISA Wrap Documents

All health and welfare benefit plans subject to the Employee Retirement Income Security Act (ERISA) must be established and maintained under a written plan document. The plan document must also outline how the plan will operate.

ERISA also requires that certain information about the plan be provided to the participants of the plan. This required information includes:

  • Plan eligibility and benefits

  • Contributions

  • Funding information

  • Plan administration

  • And is usually provided annually through a Summary Plan Description (SPD)

American Fidelity Administrative Services (AFAS) can assist with the wrap plan document, and a separate SPD to provide to the plan participants. Using this service helps reduce the administrative burden of maintaining multiple plan documents and providing separate SPDs for each of the plans to the plan participants. A Form 5500 will not have to be filed for each plan.

  • Help mitigate compliance risk

  • Improve employee communication

  • Conserve valuable financial and human resources.