Section 125 Plans
Although Section 125 plans are generally not subject to ERISA, they must comply with Section 125 of the Internal Revenue Code. Code Section 125 imposes numerous administrative and compliance requirements that are very similar to those that apply to qualified retirement plans. ABP's experience with qualified plans allows us to offer the following services to plan sponsors to help them satisfy these requirements:
ABP employs a fee for service model. We use a standard fee schedule and engage all clients with an administrative services agreement that typically identifies a flat dollar fee for each defined provision and elected service. Time and charges billing applies only to unusual situations where it is not possible to precisely identify the scope of work.