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ERISA Compliance

ERISA (Employee Retirement Income Security Act) is a federal law that regulates group sponsored benefits (also called welfare benefit plans). Besides requiring the provision of specific Plan features and funding information, the law mandates that employers submit detailed reports to the government.
Employers face strict deadlines for disclosing Plan information to all eligible employees. And all Plan Sponsors and Plan Administrators with ERISA plans must follow a strict fiduciary code of conduct.
You may be at risk and not even know it! Failure to comply with ERISA requirements can be extremely costly. Consequences for non-compliance may include government penalties, even employee lawsuits.

The SHN Difference:
SHN takes care of all the necessary communications, forms, and record keeping so employers don’t have to! We will put our years of experience to work to help employers remain fully compliant with ERISA regulations, and we will provide the defense employers need in the event of an audit by the Department of Labor.
 
Since 1989 SHN has administered various employee benefits accounts through its expanding family of original products. As a SAS 70 Type II Certified and SSAE 16 Certified TPA, our experience and expertise allow us to provide a comprehensive menu of recordkeeping and administration services necessary for a successful employee benefits program.

SHN delivers compliance and peace of mind:

  • Maintains all required records for the mandated amount of time.
  • Provides instruction regarding required on-site record keeping.
  • Completes all required forms accurately and promptly.
  • Offers the flexibility to maintain separate ERISA Plans or bundle different benefits into a single Plan.
  • Prepares and designs the required Plan Document and the Summary Plan Description.
  • Provides guidelines for disclosure of required information to employees.
  • Prepares all applicable forms and schedules.
  • Assists in obtaining necessary information from insurance carriers to prepare required forms and filings.
  • Prepares the Summary of Materials Modification (SMM) and Summary Annual Report (SAR) if required.
  • Assists with resolution in the event that any employee benefits plans are reviewed by the Department of Labor.
  • Provides access to experienced employee benefits professionals.
  • Provides an Audit Guarantee, toll-free Customer Service, and 35+ years of experience in employee benefits administration.
  • Provides Healthcare Reform Notices required under PPACA and PHSA mandates.
  • Summary Plan Descriptions
  • Provide updated/amended SPD as required to all participants
  • Summary Material Modifications
  • Certificates of Coverage
  • Certificates of Creditable Coverage for CMS
  • Disclosure of Creditable Coverage
  • SAR Report
  • Reporting for 5500 Form