Plan Installment and Enrollment

• Development of Plan Documentation. We work with you and your attorney in formulating appropriate plan language and documents. We will provide specimen alternative plan provisions to appropriately address the issues faced by your firm. We can provide prototype plan documents or custom drafted documents. However, we do not practice law, and any documents provided should be reviewed by your attorney. We will also review any insurance contracts to be issued under the plan, if the plan is insured and you so desire
• Recordkeeping System. We help you to establish a plan bookkeeping system, guidelines for administration, and to develop a funding policy and method. We also offer an optional computerized recordkeeping and reporting system. This system is supported by professionals knowledgeable in electronic data processing.
• Disclosure to Employees. We provide you with an announcement to employees describing the plan, and a Summary Plan Description to be reviewed by you and your legal counsel and distributed to employees. BSG Benefits, Inc. provides enrollment and administration forms to be utilized in enrollments, designating beneficiaries and other plan operations. In addition, optional promotional materials are available for distribution to employees. Employers recognize the need to provide employees with information that will not only meet legislated disclosure provisions but will also communicate the operation and value of employee benefit plans in a positive and meaningful way. Positive benefit communication will help employees understand their various plans, the security of the benefits, their employer's concern for their welfare and the value and cost of their benefits.
• Plan Administrator's Responsibilities Manual. Upon your adoption of a plan, BSG Benefits, Inc. provides you with a summary of the various duties and responsibilities imposed on Employers and designated Plan Administrators, including our recommendations with respect to the most favorable methods of complying with those duties and responsibilities. This manual includes administrative forms and checklists and makes many helpful recommendations as to how to avoid problems.
• Plan Qualification Services. Many employee benefit programs contain tax-deferral features. Under these plans it is desirable to request from the Internal Revenue Service a "determination letter" (that the plan meets the requirements of the law and regulations). BSG Benefits, Inc. will prepare actuarial and other related information required to establish the plan's qualification under ERISA so that the employer's contribution to the plan will be a tax-deductible expense to the employer and so that the trust fund will receive the benefit of qualification."