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Monthly Archives: January 2012

Distributing the SPD for your Section 125 Plan – It’s not just about compliance

It’s no secret that the task of government compliance with programs such as IRS Section 125 Plans has most employers jumping through some hoops.  There Department of Labor lists one of many requirements to distribute certain documents such as a Summary Plan Description referred to as SPD.   But through all of this disclosure and required notifications is a HUGE opportunity to use this communication tool to craft your company culture. [read more...]

January 30th, 2012 • 0 Comments

Prepare for 2012 Changes to Section 125 Premium Only Plans

Payroll companies need to help their clients prepare for some changes to Section 125 Premium Only Plans that will pave the way for the Affordable Care Act (ACA). While it is true that the ACA doesn’t come into full effect for another two years, there are some portions taking effect in 2012 and 2013. It is important for payroll companies to stay abreast of these changes so that they can help their clients maintain Section 125 compliance. [read more...]

January 26th, 2012 • 0 Comments

What is a Section 125 Plan?

A Section 125 Plan is an employer-provided benefit where the employee can choose from a range of different benefits and pay for them with pre-tax dollars.  Section 125 refers to the Internal Revenue Code section that governs the administration of these plans.  They are also called “cafeteria” plans because, like a cafeteria, the employee has his choice from a full menu of different options. [read more...]

January 25th, 2012 • 0 Comments