ERISA COMPLIANCE
At PartnerComm, we focus on giving you an award-winning benefits communication experience. That means getting all the pieces in place and telling your benefits story in fresh, effective ways that resonate with your employees. But telling the story is only half the job. Making sure the story is right is also a big part of what we do. That’s why every deliverable we create at PartnerComm goes through our Employee Retirement Income Security Act (ERISA) compliance review. Let’s do a quick breakdown of all things ERISA.
Importance of Being Compliant
The U.S. Department of Labor’s EBSA estimates that three out of every four benefit plans are out of compliance, and with oversight of approximately 694,000 retirement plans and 2.2 million health plans, that’s a lot of moving parts to keep track of. Thankfully, PartnerComm is here to help you convey your benefit options to employees in new and exciting ways, while being technically accurate and legally compliant.
For us, ERISA compliance starts with knowledgeable writing. Our writers have years of experience using all forms of media to educate employees about their benefit offerings. Many of our writers are CEBS-certified, meaning they are thoroughly trained in how employee benefit plans are designed, funded and administered. Having that extensive background helps them understand not only the mechanics and rules of benefit plans, but also how the benefit offerings can be most effectively communicated to employees.
Building on that foundation, we turn to our ERISA compliance attorneys. With backgrounds in benefit plan communication, administration, compliance and investigation, our attorneys look at what we produce from a technical standpoint, making sure all the i’s are dotted and t’s are crossed. We also keep our eyes out for any potential ERISA compliance issues that may come up on our clients’ behalf — especially in technical documents such as summary plan descriptions (SPDs), where such issues can be easily overlooked.
If you need help communicating to your employees while being sure you are staying compliant, contact us!