Overview
Employee benefits are compiled monthly from the Department of Labor. Employers use a Form 5500 to disclose employee benefit details to the Internal Revenue Service (IRS) to ensure the employer operates in accordance with the law.
Examples of benefit plans are health insurance plans and 401(k) retirement plans.
Plan Details
Each employee benefit plan includes details such as term and number of participants.
The term defines the timeframe between the effective date and expiration. Typically, benefit plans go into effect shortly after a period of active enrollment and do not necessarily follow a calendar year.
The number of plan participants changes throughout the term as employees join and leave the company. Participants are considered "active" if they are currently employed by the company. Total participants may include former employees who are still eligible for benefits.
See also:
benefit_plans.name
benefit_plans.term
benefit_plans.effective_date
benefit_plans.carrier
benefit_plans.contract_number
benefit_plans.short_form
benefit_plans.active_beginning_participants
benefit_plans.active_ending_participants
benefit_plans.total_beginning_participants
benefit_plans.welfare_benefit_types
Broker Information
The broker is the agent to whom commissions and fees are paid.
See also:
benefit_plans.broker_city
benefit_plans.broker_name
benefit_plans.broker_postal_code
benefit_plans.broker_state
benefit_plans.broker_street
Funding and Benefit Arrangements
Arrangements are the methods by which the plan provides funding or benefits to participants, such as insurance plans and trust funds.
See also: