ABP provides compliance and administrative support to employers who sponsor tax-qualified retirement plans, health & welfare plans, and Section 125 plans to enable them to maintain their plans in compliance with ERISA and the Internal revenue Code. A brief description of the specific support services for each type of plan is presented below.
It is easy for an employer to be overwhelmed by the administrative burdens and potential fiduciary liabilities associated with maintaining a tax-qualified retirement or savings plan.
ABP's highly experienced staff delivers comprehensive services for all major types of plans to create efficient, compliant and successful plans for our clients.
Health & Welfare plans are coming under increased scrutiny for compliance failures by governmental agencies. This can result in staggering penalties to plan sponsors.
ABP can provide guidance to correct deficiencies in current plan operations in the most cost-effective way possible while helping to assure that clients' health & welfare plans remain in compliance in the future.
Section 125 Plans
Section 125 of the Internal Revenue Code enables employers to offer a number of valuable benefits to employees: the ability to pay for medical premiums, fund health reimbursements accounts and dependent care reimbursement accounts, all on a pre-tax basis.
ABP provides the administrative support and consulting to make sure these valuable benefits remain compliant with rules and regulations.