While the topic may seem a bit of a snooze, ignoring plan document and SPD requirements in alphabet soup programs could be a wake up call in the form of potential penalties.
It may be called a Premium Only Plan, but there are still options when it comes to employee elections.
A POP is still a Cafeteria Plan, that means there are still rules and requirements to be followed.
Life, Health, the Pursuit of Happiness…and Pre-Tax Deductions.
Rules are rules. If you’re going to make pre-tax payroll deductions, you’re going to need a POP. Here are the rules you need to follow.