ERISA Benefit Plan Wraps, SPDs and New ACA Mandates
Structuring and Amending Compliant Plan Wraps, SPDs and Notices
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will provide counsel with a review of ERISA requirements for written plan documents and summary plan descriptions (SPDs). The panel will explain how plan sponsors and their counsel can create wrap plan and SPD documents as an effective and cost-efficient means of ensuring compliance. The panel will also address the newest revisions to the summary of benefits and coverage (SBC) mandated by the ACA for group health plans.
- Wrap plans and SPDs
Determining if a plan triggers ERISA disclosures to participants
- Employee welfare benefit plans under ERISA
- DOL safe harbor
- Written plan documents
- SPDs for plan participants
- Penalties for noncompliance
The wrap approach
- Cost efficiencies
- What to include in wrap documents
- DOL model statement of rights
- References to other documents
- Ensuring consistency of plan documents
Revisions to summary of benefits and coverage (SBC) for 2014
- Minimum essential coverage
- Minimum value standard
- Annual limits on essential health benefits
The panel will review these and other key questions:
- What types of employee welfare benefit plans are subject to ERISA reporting and disclosure requirements and what are the penalties for failing to comply?
- What information beyond what is included in insurance policies and other contract documents is included in plan wrap documents and SPDs to ensure ERISA compliance?
- What language and provisions must be disclosed to plan participants to ensure an accurate summary of a plan that will meet SPD requirements?
- Why should plan sponsors be mindful of the Supreme Court's Amara ruling when it comes to ensuring consistency among plan documents?
- What are the key distinctions between SPDs and SBCs?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Wang Kobayashi Austin
Ms. Kobayashi has experience in a broad range of benefits and compensation matters, including qualified retirement... | Read More
Ms. Kobayashi has experience in a broad range of benefits and compensation matters, including qualified retirement plans, executive compensation, and welfare benefit plans. She has extensive experience with welfare benefit plans, including cafeteria plans, wrap plan documents and severance plans, and regularly advises on compliance with ERISA.Close
Stephen F. Herbes
Assistant General Counsel
1199SEIU National Benefit & Pension Funds
Prior to his current position, Mr. Herbes practiced law at several large international firms where he counseled... | Read More
Prior to his current position, Mr. Herbes practiced law at several large international firms where he counseled multi-national corporations on ERISA compliance and other employee benefits issues. He is an adjunct professor at Rutgers Law School and Fairleigh Dickinson University, where he teaches courses in ERISA and employee benefits. He is a licensed CPA and a Certified Employee Benefits Specialist.Close