The ERISA Wrap is key to anyone who owns or operates a business. No matter the size of the business, whether one employee or one hundred employees, employers who offer or sponsor health and welfare benefits must provide an ERISA Wrap. The BASE® ERISA Wrap fulfills the ERISA requirement for a SPD and Plan Documents outlined by the DOL and requires little work from the employer. If they fail to provide this, they could be subject to a $100 per-day, per-employee fine.
BASE® offers full compliance assistance and makes it affordable to fill in compliance gaps. Not only does the ERISA Wrap protect employers from the risk of penalties, but BASE® clients benefit from the simple set up and continued customer support. Lisa P., a BASE® ERISA Wrap client, shares her experience. “My experience in setting up a BASE® ERISA Wrap has been incredible. BASE® is courteous and thorough, and their follow up is unlike any other company.”
BASE® believes time is valuable and wants this process to be quick and easy. After talking to a BASE® Sales Representative the following process usually takes place:
Step 1: Employer provides plan information to BASE® for all ERISA employee benefit plans.
Step 2: BASE® produces all required documentation as established by ERISA in the form of a Summary Plan Description and Plan Document.
Step 3: BASE® provides all documentation to employer for distribution to all eligible employees.
Step 4: BASE® continually monitors legislative and regulatory changes to ensure plans remain in compliance and client information is up-to-date.
Simplify ERISA compliance with an easy and affordable solution provided by BASE®. Call 1-888-386-9680 to learn more about the BASE® ERISA Wrap.