Wrap Document & POP Plan, Made Easy
Make sure your business stays ERISA compliant with up to date Wrap documents and a POP plan. With AllMyHR Solutions, fill in the questions step by step and your business documents are created effortlessly.
Premium Only Plan Documents (POP) can usually be created in less than 30 minutes. Wrap Documents can usually be completed in less than an hour.
Getting Started
Our HR Document Builder guides you through your Wrap doc creation so you can have yours done within an hour. We offer these individually priced or are available as one of many features included in our AllMyHR™ Solutions.
What Is A Wrap Document?
The purpose of a Wrap is to provide a breakdown of benefits offered to employees, including disclosures and information. It is a requirement of ERISA due to insurance policy issued SPD (Summary Plan Documents) rarely meeting the ERISA Plan Document requirements.
Wrap Document Benefits
A benefit of this requirement, saving time and money. An employer with a Wrap in place will save hours and money at tax time. By allowing employers to file a single Form 5500 instead of a Form 5500 for each health and welfare benefit offered, filing business taxes becomes simplified.
What Is A Pop Plan?
A POP Plan is also known as a Section 125 (or Cafeteria 125 plan). It allows employees to pay their premiums for their health insurance tax free. This saves employees on Federal, State and Social Security taxes while lowering employers taxes towards Social Security match. In order to allow your employees to pretax certain benefits on their paychecks, you need to have a compliant section 125 premium only plan document (POP).
Section 125 Benefits
Protect your employees and your company with In-depth, interactive courses on: On the job safety, OSHA, Personal Protective Equipment, Personal Safety and Transportation.
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