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.
What is a Pop Document?
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).
What is a Wrap Document?
The purpose of a Wrap Document 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.
