The world of employee benefits is highly regulated and without competent compliance support, it’s easy for an employer or consultant to feel overwhelmed and out of control. Other third party administrators claim to be compliance experts, but are their responses accurate and timely? Do you have to submit your question via email and wait 2 days for a response?

The Group Dynamic Difference:

Group Dynamic’s Compliance Services include the following options:

ERISA Wrap Documents

The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that regulates certain employee benefit plans. Employers are at risk for significant penalties for failing to comply with the law’s various components. Group Dynamic’s ERISA Wrap Document & SPD service will ensure that your welfare benefit plan documentation meets ERISA’s extensive requirements.

ERISA Wrap Documents FAQ

Comprehensive Non-Discrimination Testing

All of Group Dynamic’s IRS Code Section 125 plans include basic non-discrimination testing. We added the comprehensive testing service for clients with more complex plan designs, as well as in preparation for the implementation of the requirement for fully-insured group health plans to comply with the nondiscrimination rules found in IRS Code Section 105(h).

Comprehensive Non-Discrimination Testing FAQ

Premium Only Plan (POP)

Do you offer your employees a choice between higher wages and health insurance coverage? Are you currently deducting health insurance premiums from employees’ pay before taxes? If you answered “yes” to either question, you are obligated to comply with IRS Code Section 125 regulations. Don’t worry – Group Dynamic’s POP service includes everything you need to be compliant. Our plan document and Summary Plan Description kit is updated as regulations change or when you make changes to your plan (at no additional cost). Our service also includes the Key Employee 25% Concentration non-discrimination test.

Premium Only Plan POP FAQ