Foster Swift's Amanda Dernovshek (along with Julie Hamlet and Mindi Johnson) put an article together a few weeks ago on the Benefits of Adopting Pre-Approved Plans for employers seeking either individually designed or pre-approved plans. She also put out an article on Common Compliance Errors for Cafeteria Plans that list legal requirements for Cafeteria Plans to receive IRC tax advantages. Amanda joins Jeffrey Mosher on a pair of interviews concerning these topics.
Hear Amanda and Jeffrey discuss legal requirements for employer benefit plans in these podcasts.
In the pair of discussions, Amanda covers:
· What is a pre-approved plan?
· What are the benefits of using a pre-approved plan?
· Are there any drawbacks to using a pre-approved plan?
· What is required to adopt a pre-approved plan?
· Does Foster Swift offer a pre-approved plan and if so, how can a company or individual learn more about this?
Compliance for Cafeteria Plans
· What is a cafeteria plan?
· What are some of the legal requirements of a cafeteria plan?
· What types of benefits can be offered under a cafeteria plan?
· What employees are eligible for a cafeteria plan?
· How can a company get a cafeteria plan document and ensure they are in compliance?