The Department of Labor is conducting more compliance audits, and the fines for noncompliance can be steep. Are you prepared with all of the required documents and paperwork on hand?
A good benefits broker will teach you about the compliance requirements for your employee benefits plans, so you're ready for an audit. A wrap document includes most of the required forms, and you should have the rest easily accessible, with proof that you sent them to your employees and/or eligible participants.
Note: Actual policies must be consulted for specific terms and conditions.