Installation and Enrollment

BSG works with you to implement and maintain your employee benefit program. Some of the ways we work with you in establishing a plan include:

  • Development of Plan Documentation. We work with you and your attorney in formulating appropriate plan language and documents. We will provide specimen alternative plan provisions to appropriately address the issues faced by your firm. We can provide prototype plan documents or custom drafted documents. However, we do not practice law, and any documents provided should be reviewed by your attorney. We will also review any insurance contracts to be issued under the plan, if the plan is insured and you so desire.
     
  • Recordkeeping System. We help you to establish a plan bookkeeping system, guidelines for administration, and to develop a funding policy and method. We also offer an optional computerized recordkeeping and reporting system. This system is supported by professionals knowledgeable in electronic data processing.
     
  • Disclosure to Employees. We provide you with an announcement to employees describing the plan, and a Summary Plan Description to be reviewed by you and your legal counsel and distributed to employees. BSG provides enrollment and administration forms to be utilized in enrollments, designating beneficiaries and other plan operations. In addition, optional promotional materials are available for distribution to employees. Employers recognize the need to provide employees with information that will not only meet legislated disclosure provisions but will also communicate the operation and value of employee benefit plans in a positive and meaningful way. Positive benefit communication will help employees understand their various plans, the security of the benefits, their employer's concern for their welfare and the value and cost of their benefits.
     
  • Enrollment Services. BSG assists our clients in the development of effective communication programs. The communication tools used in these programs include: benefit booklets; comprehensive statements of employee benefits tailored to the needs of each employer; employee handbooks; notices and audio-visual presentations. We also works with clients to analyze, plan and design a continuing program of benefit communications and provides consultation for clients who wish to prepare their own communications materials. Under plans which give the participants a wide variety of options to choose from, it may be desirable to have a representative of BSG meet with each employee individually and explain the plan benefits and options available. We are available for employee meetings and to assist the employees with completing the enrollment form(s) as you may require.
     
  • Plan Administrator's Responsibilities Manual. Upon your adoption of a plan, BSG provides you with a summary of the various duties and responsibilities imposed on Employers and designated Plan Administrators, including our recommendations with respect to the most favorable methods of complying with those duties and responsibilities. This manual includes administrative forms and checklists and makes many helpful recommendations as to how to avoid problems.
     
  • Plan Qualification Services. Many employee benefit programs contain tax-deferral features. Under these plans it is desirable to request from the Internal Revenue Service a "determination letter" (that the plan meets the requirements of the law and regulations). BSG will prepare actuarial and other related information required to establish the plan's qualification under ERISA so that the employer's contribution to the plan will be a tax-deductible expense to the employer and so that the trust fund will receive the benefit of qualification, and will file with the IRS to obtain a "determination letter."