Bradenton, FL (PRWEB) December 3, 2009
For a limited time Core Documents, the nations leading provider of affordable Section 125 Cafeteria Plan Documents, is offering a 10% discount on Section 125 Premium Only Plan Documents. This package gives employers everything needed to start or update an existing Plan that complies with current IRS and DOL requirements for only $89 plus $15 shipping and handling (instead of $99 + S&H).
Many employers don't allow their employees to take pre-tax deductions for health insurance premiums. This means their employees are paying up to 40% too much for their insurance premiums. Plus, the employer misses out on the reduced FICA tax savings of 7.65%.
For employers that do allow pre-tax deductions it is very imporatnt that their group maintain a current Section 125 Premium Only Plan Document (required by the IRS) and a Summary Plan Description (required by the Department of Labor)? The emphasis on "a current Plan Document" is because on August 6, 2007 the IRS issued REG-142695-05 making sweeping changes to IRS Code Section 125 - Cafeteria Plans. Many, many employers have a Plan Document that is years out-of-compliance.
The new IRS Code cracks down on many practices that will simply disallow a Plan not following current rules. Plus, the Department of Labor requires that all employees receive a current Summary Plan Description at least every five years.
January 1, 2010, is an excellent time to start or update a Section 125 Premium Only Plan. For a limited time the Plan Document package, normally $99 plus S&H, has been discounted to only $89 plus S&H.
What do employers get for $89? Everything an employer needs to establish a Section 125 Premium Only Plan including: a custom Plan Document (required by the IRS); a custom Summary Plan Description (required by the DOL); custom employee election forms; and an administrative guide, all in a customized one inch ring-bound notebook.
So what's next? Once the Plan Document is ordered and delivered, the Plan Document simply needs to be signed by an Officer of the Company and kept for review by HR, employees, or in an audit. The Summary Plan Description, or SPD, explaining the Plan in easy to understand language, is copied and handed out to all eligible employees. Employees simply elect (by signing an election form) to have their insurance premium deducted before taxes are calculated. When setting up the deductions employers make sure the deduction is taken pre-tax instead of post-tax. That's basically it.
Since 1997 Core Documents has been the primary source in the US for affordable IRS and DOL compliant Section 125 plan documents. Call them today at 1-888-755-3373 or see their website at Core Documents, Inc..
Important - To get the $89 discounted price please download the discount order form at Core Documents Discount Order Form. Discount is not available to orders placed online through the website.
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