Can you give me an example of how Hour Banks work?
With a 130 Hour Bank, an employee is required to work 130 hours per month in order to fully fund [...]
How do Hour Banks work?
Simply defined, an Hour Bank is an over-charge of monthly benefits premiums. By creating a surplus reserve of premium payments, [...]
What is an Hour Bank?
Hour banks are a means of converting an employer's fixed monthly costs for fringe benefits into an hourly cost.
What is HIPAA and will the ERISA Trust insure compliance?
The Health Insurance Portability and Accountability Act (HIPAA) provides rights and protections for participants and beneficiaries participating in group health [...]
What are my COBRA responsibilities if I’m managing my own benefits?
It all depends. If you are an over-20 company, then Federal rules currently govern your obligations. However, if you are [...]
Can the ERISA Trust manage COBRA compliance?
For companies participating in an ERISA Trust, the Trust Administrators maintain compliance by insuring that employee health benefits continue under [...]
How is COBRA related to ERISA
The Consolidated Omnibus Budget Reconciliation Act (COBRA) is, in fact, an amendment to ERISA. COBRA gives workers and their families [...]
What if I manage my own employee benefits, are there Government resources to help me maintain compliance?
If you choose to provide your own benefits to employees, the Employee Benefits Security Administration (EBSA) provides many forms of [...]
Will I have to create the Summary Annual Report?
The plan administrator is required by the Employee Retirement Income Security Act (ERISA) to provide participants with a copy of [...]
Will the ERISA Trust provide employees with the Summary of Plan document?
The Employee Retirement Income Security Act (ERISA) requires employers to give plan participants (employees) a summary of their plan, called [...]