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Plan Adminsitration
Home > US Pension Plan > Plan Adminsitration

  Employee benefit plans

For multinational corporations, employee benefit plans are becoming an essential element of an employee package and are designed to meet the individual requirements of each organization and align the interests of the employee with those of the company. These can be designed in a variety of ways, delivering bonuses or other forms of compensation and often involving an employee trust.

As multinationals seek to establish global plans with a variety of currencies, taxes and jurisdictions, administration can seem an insurmountable challenge. As an third party administrator, we can help you meet that challenge.

  flexi Account

A Flexi Account (Section 125) Administration Plan is an employer-sponsored benefit program that enables employees to choose the benefits they want and to pay for those benefits with pre-tax dollars.

Flexi Account (Section 125) Administration Plan are also known as Cafeteria Plans, 125 Plans, FSA Plans and Flexi Plans.

The most common reason given by employers for offering a cafeteria plan is to lesser the burden of escalating health care plan costs and provide a day care benefit to their employees.

Under Section 125 of the IRS code, an employee is allowed to pay for his/her group health premiums, other qualified insurance premiums, un-reimbursed medical costs (prescriptions and co-pays), child and dependent care costs and more...all with tax-free dollars through a cafeteria plan.

  Non Qualified Deffered
The Non-qualified Deferred Compensation Plans are increasingly popular and are usually offered to a select group of management or highly compensated employees or top executives. These plan allows a reward to high-level employees with a replacement income at retirement that is based on their overall compensation package. Non-qualified plan contributions are not tax deductible, are not subject to most ERISA requirements, and there are no limitations on the amount of plan contributions or benefits.

  Life Insurance

Life Insurance Underwriting is a process starting just after the application and medical exam results are submitted to the insurance company, depending on the information on the application and the results of the medical examination, the insurance company may require additional health background or financial information. These underwriting process can take from thirty to ninety days or longer, depending on complexity.

Keeping in mind, we helps you in reducing the time to issue a new policy, reducing the cost to issue a new policy and to improve customer service with the clients, brokers, and agents provides you services to the full management of the entire underwriting process :

  Cobra Administration
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) provides health coverage to organizations employing 20 or people.It offers continuation of group health benefits (Medical, Dental, Vision and Medical Reimbursement Account) to employees (and covered dependents) upon experiencing a "qualifying event."

COBRA administration is time consuming and complex. Faliure to adhere to government guidelines can have serious consequences for employers.

As a third party administrator, we help you in record keeping and reporting of all routine activities and tracking the plan progress.

 Human Resource
General life cycle of an employee includes lots of administrative tasks. viz : initial job posting, job application, new hire paperwork, payroll and tax filings, garnishments, annual benefit elections, and government reporting etc. These tasks, if not properly structured, worked and supported with technology and skilled professionals, it can generate legal compliance issues and adversely affect the morale and confidence of your employees.