USI’s Comprehensive Compliance Review can help your organization avoid thousands of dollars in federal, state, and local fines and/or penalties.
Manage Benefit Plan Requirements

A 350-employee manufacturing company had limited HR resources to devote to its employee benefit plans. As a result, the company had not maintained plan documents and failed to meet some of its notification requirements.

USI conducted a comprehensive compliance review and identified several gaps, including old or non-existing plan documents, lack of appropriate COBRA and FMLA notifications, and delinquent Form 5500 filings. Additionally, USI provided template ERISA and SPD wrap documents and sample notification letters, as well as assistance with delinquent filer forms to mitigate non-compliance penalties.

Potential penalties levied by the DOL and IRS for the absence of plan documents and other gaps that USI uncovered could have exceeded $150,000. By completing the voluntary delinquent filer forms, USI was able to cap the penalties at $4,000 per plan.

  • Provides strategies and procedures to mitigate existing liabilities and eliminate future exposures
  • Sample templates and explanations of safe harbor practices help to improve adherence to requirements
  • Training, timely webinars, and how-to guides assist employers with a variety of reporting requirements

ERISA, ACA, DOL, and state and local regulators may impose a myriad of fines and penalties that could potentially bankrupt an employer.

USI’s Compliance Review can identify any potential exposure to penalties that could cost your business thousands of dollars under various benefit related laws and regulations.

USI’s EB Compliance Team is a locally based, nationally networked group of benefit attorneys and specialists that provide clients with a wide range of compliance services. The team includes one of the largest ERISA practices in the United States.

USI’s Comprehensive Compliance Review is included in our standard service offering at no additional cost to our clients.