Individuals responsible for the administration of a 401(k) retirement plan know that details, such as a participant’s date of hire or the number of hours worked, are important when determining an employee’s plan entry date. A lawsuit recently filed by the Department of Labor is a reminder that plan fiduciaries should also be paying attention …
Why Do I Need a Plan Document for my Welfare Benefit Plan?
An employee comes into your office and requests a copy of the plan document for the medical plan. What document do you give to the employee? One of the basic ERISA rules is that all employee benefit plans must have a written plan document. Under ERISA Section 402, a plan document must include these elements: …
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