With the implementation of the Affordable Care Act, there SPF requirements are receiving new attention.
On November 21, 2000, The Department of Labor (DOL) published regulations on the information that must be included in Summary Plan Descriptions (SPD) for both pension and welfare benefit plans.
Employers who offer any type of benefit plan, including life insurance, medical, dental, vision, disability, wellness and employee assistance plans are required to provide and maintain a wrap SPD and distribute it to all eligible employees. This requirement applies to all employers or organizations no matter what size, except for government agencies and churches. There are serious penalties if employers do not comply with this regulation.
We have a solution to help satisfy this requirement for any organization that offers any of these benefits. Please contact me at 614-889-0934 so I can give you more information about how to get this documentation in place.
