Business

Oct 17 2017

ERISA SPD Wrap Plan Document Requirements #erisa, #plan, #plans, #document, #documents, #compliance, #summary #plan #description, #spd, #spds, #5500, #form #5500, #health, #welfare, #benefit, #benefits

# FAQs – ERISA Summary Plan Description (SPD) Document Requirements The Summary Plan Description, or SPD, is the main vehicle for communicating plan rights and obligations to participants and beneficiaries. As the name suggests, it is a summary of the material provisions of the plan document, and it should be understandable to the average participant of the employer. However, in the context of health welfare benefit plans, it is not uncommon for the SPD to be a combination of a complete description of the plan’s terms and conditions, such as a Certificate of Coverage, and the required ERISA disclosure language, …

Sep 30 2017

Welfare financial definition of welfare #define #welfare

welfare Welfare A generic term for many government assistance programs. In general, it refers to programs in which the government pays money to indigent and unemployed persons. However, it may include non-cash payments such as food stamps. It may or may not include a requirement that able-bodied persons on welfare attempt to find work. Welfare is very controversial. Proponents argue that it helps the persons least able to help themselves, while critics contend it encourages people not to work. See also: TANF, Dole. welfare that aspect of management concerned with the wellbeing, both physical and emotional, of employees. It is …