Are You Adopting a Section 125 Plan?
Do you take your role as a plan sponsor serious enough?
Of Course you do………. your at taxfreepremiums.com
If you are a corporation you are required to adopt a board resolution and have on file when sponsoring a Section 125 Plan. This is included in the document package for clients of taxfreepremiums in a signature ready format.
The point is its important to take the role and plan compliance serious. Your not required to have a public hearing but you are required to have a written plan document, to adopt a board resolution from the company, distribute an Summary Plan Description (SPD) to employees, and either enroll each employee or auto-enroll with ability to opt-out of the plan if an employee desires to pay taxes on their premiums.