What We Do

At The Compliance Plan, we provide comprehensive compliance solutions to ensure your employee benefit plans meet all ACA, DOL, and Medicare regulations. Our expert services simplify the complexities of compliance, saving you time and reducing risk. Whether you're a business managing benefit plans or an insurance agent seeking a trusted compliance partner, we’ve got you covered.

Summary Plan Description (SPD) Development
We craft clear, participant-friendly SPDs that outline your plan’s terms, benefits, eligibility, and ERISA rights, ensuring compliance with DOL requirements.
What We Do: Create and update SPDs tailored to your retirement, health, or welfare plans, delivered within 90 days for new participants and updated

every 5–10 years as required.

Why It Matters: A well-crafted SPD prevents misunderstandings and protects against penalties (up to $110/day for non-compliance).

Summary of Material Modifications (SMM)
We prepare concise SMMs to communicate significant plan changes to participants.
What We Do: Draft SMMs detailing modifications and effective dates, distributed within 210 days of the plan year-end or integrated into updated SPDs.
Why It Matters: Keeps participants informed and ensures compliance with ERISA disclosure rules.

Summary Annual Report (SAR)
We compile SARs to summarize your plan’s financial status based on Form 5500 filings.
What We Do: Deliver SARs annually within 9 months of the plan year-end (or 2 months after Form 5500 deadlines with extensions), tailored for most ERISA plans.
Why It Matters: Provides transparency to participants and avoids DOL penalties.

Annual Funding Notice for Defined Benefit Plans
For defined benefit pension plans, we create Annual Funding Notices to detail funding status and financial health.
What We Do: Prepare notices with funding percentages, assets, liabilities, and ERISA rights, distributed within 120 days of the plan year-end (or by Form 5500 deadlines for small plans).
Why It Matters: Ensures participants understand their plan’s stability and meets DOL mandates.

Participant Fee Disclosure (404(a)(5))
We develop fee disclosures for participant-directed retirement plans like 401(k)s, ensuring transparency in costs.
What We Do: Provide annual disclosures of plan-related fees, investment option fees, performance data, and glossaries, plus quarterly fee statements.
Why It Matters: Empowers participants to make informed decisions and satisfies DOL regulations.

Health Plan Disclosures (ACA & ERISA)
We manage all required health plan disclosures, including Summary of Benefits and Coverage (SBC) and other notices.
What We Do: Create SBCs with coverage details, costs, and medical scenarios, delivered during open enrollment or within 7 days of a request. We also handle notices for wellness programs, HIPAA privacy, COBRA rights, and more.
Why It Matters: Simplifies ACA and ERISA compliance, ensuring participants have clear, comparable plan information.

COBRA Notices
We ensure compliance with COBRA requirements for group health plans with 20+ employees.
What We Do: Prepare General COBRA Notices at plan enrollment and Qualifying Event Notices within 14–44 days of events like job loss or divorce.
Why It Matters: Protects employee rights to continued coverage and avoids costly penalties.

Automatic Enrollment and Blackout Period Notices
For plans with automatic enrollment or blackout periods, we create compliant notices.
What We Do: Draft Automatic Enrollment Notices detailing contribution rates and opt-out rights, and Blackout Period Notices 30–60 days before restricted access periods.
Why It Matters: Keeps participants informed and ensures compliance with ERISA rules.

Individual Benefit Statements
We provide detailed benefit statements for retirement plans, tailored to participant needs.
What We Do: Deliver annual statements for defined contribution plans (e.g., 401(k) balances) and triennial statements for defined benefit plans, including upon request or termination.
Why It Matters: Gives participants clarity on their benefits and meets DOL requirements.

Plan Document and Form 5500 Support
We ensure access to full plan documents and Form 5500 filings, maintaining transparency.
What We Do: Prepare and provide plan documents upon request within 30 days and assist with Form 5500 availability, including public access via DOL’s website.
Why It Matters: Fulfills ERISA’s transparency requirements and avoids compliance issues.

Why Partner with The Compliance Plan?
For Businesses: We take the burden of compliance off your shoulders, ensuring your benefit plans meet all regulatory standards so you can focus on your core operations.
For Insurance Agents: Our services empower smaller firms to offer robust compliance support, competing with larger agencies without building an in-house compliance department.
Expert Guidance: Our team stays current with ACA, DOL, and Medicare regulations, delivering accurate, timely solutions to reduce risk and enhance plan administration.
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