What HR Needs to Know About Cafeteria Plan Compliance

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Even though Section 125 cafeteria plans are common, ERISA compliance can be an oversight for many employers. Here’s what you need to know.

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▬ Episode Resources & Links ▬▬▬▬▬▬▬▬▬▬

US Code 125 - Cafeteria plans | Internal Revenue Code
https://www.law.cornell.edu/uscode/text/26/125

Understanding Section 125 Cafeteria Plans| SHRM
https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/understanding-section-125-cafeteria-plans.aspx

Meeting Your Fiduciary Responsibilities | US Department of Labor
https://www.dol.gov/sites/dolgov/files/EBSA/about-ebsa/our-activities/resource-center/publications/meeting-your-fiduciary-responsibilities.pdf

Understanding Your Fiduciary Responsibilities Under a Group Health Plan | US Department of Labor
https://www.dol.gov/sites/dolgov/files/EBSA/about-ebsa/our-activities/resource-center/publications/understanding-your-fiduciary-responsibilities-under-a-group-health-plan.pdf

Reporting and Disclosure Guide for Employee Benefit Plans | US Department of Labor
https://www.dol.gov/sites/dolgov/files/EBSA/about-ebsa/our-activities/resource-center/publications/reporting-and-disclosure-guide-for-employee-benefit-plans.pdf

What is the difference between a plan document and a summary plan description? | SHRM

Form 5500 Series | US Department of Labor
https://www.shrm.org/resourcesandtools/tools-and-samples/hr-qa/pages/whatsthediffbetweenplandocsandasummaryplandescription.aspx

Publication 15-B (2022), Employer's Tax Guide to Fringe Benefits | Internal Revenue Service https://www.irs.gov/publications/p15b#en_US_2022_publink1000193632

Alpine TPA
https://www.alpinetpa.com/


▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬

00:00 Cafeteria plans: You’ve likely heard of them
00:33 What is a Cafeteria Plan?
01:57 What Employers Need to Know about Cafeteria Plan Compliance
03:06 How Employers Can Keep Their Cafeteria Plan Compliant
03:37 What is a Master Plan Document?
04:19 What is a Summary Plan Description?
05:37 What is an ERISA Wrap Document?
06:35 Compliance: Section 125 Plans
07:21 Using a TPA (Third Party Administrator)


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