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SECTION 125 & SECTION 132 PLANS:  

CAFETERIA, FLEXIBLE BENEFIT, HEALTH REIMBURSEMENT ACCOUNT, PREMIUM CONVERSION PLANS, QUALIFIED TRANSPORTATION

Section 
125/132 Plans:

• Have you noticed the rapidly increasing trend in the cost of providing employee benefits?

• Do you have concerns about adding additional administrative costs and tasks to provide your employees with benefits?

• Are you interested in developing an employee benefits plan that will allow you to attract and maintain employees of the highest quality?

Cafeteria/Flex Benefit Analysis (PDF) - Actual demonstration of the effect one paycheck as well as long term projections.

Employee Interest 
Survey (PDF) - Determine how many employees may benefit from the plan prior to offering the plan.

Well, if these or any other questions regarding employee benefits have crossed your mind lately, we have the solution for you. Through our ERISA Flex division, we can handle all of your needs while at the same time saving you money with employee benefit plans ranging from Premium Conversion Plans to Flexible Spending Accounts to Cafeteria Plans.  These plans offer some relief for the rising costs medical services, dependent care and transportation costs.

WHAT IS A 
FLEX PLAN ?

SUMMARY OF 
ERISA FLEX SERVICES

LINKS

Below is an example of how a Premium Conversion Plan, one of the simplest plans offered, can save you substantially. With 30 employees redirecting the portion ($2,000) of their medical insurance premiums from a after-tax to a pre-tax expense, the amount of payroll taxes you save would be:

Total amount redirected:  $ 60,000  (30 employees at $2000 each)

Savings on Payroll Tax:  $ 4,590  (FICA - 7.65% )

Total estimated savings: $ 6,390

* You will not have to pay FICA or FUTA taxes on the gross amount of salary redirection made by your employees. The redirected amounts remain in your bank account until an expense reimbursement is made to an employee. Thus, the earned interest on amounts become assets of the employer.

If an employer who utilizes Premium Conversion Plan can save almost $6,400 annually in taxes, imagine the savings that Flexible Benefit Plan would generate. If this looks as good to you as it does to over 100 of our flexible benefits plan clientele, take a look on the back at how the ERISA DIFFERENCE can benefit you:

• GUARANTEED administrative service of the highest quality attainable. As a current client you already know and trust ERISA and the quality of our work;

• GUARANTEED NO price increases for a minimum of three (3) years;

• GUARANTEED FREE annual employee education meetings;

• Several pricing options for the different levels of service offered;

• Customized plans designed to be effective, efficient, and economical;

• Comprehensive monthly reports for employers and participants detailing amounts claimed and the balance available to each participant;

• Versatility and multiple levels of service - checks can be printed and sent to the employer for signature and distribution or they can be mailed directly to the participants' homes.  Employers can further minimize their cost by electing to prepare reimbursement checks in-house;

• Completion of all compliance requirements, including testing and all IRS filings

Transferring employee benefits from an after-tax expense to a pre-tax expense is simply a "WIN / WIN" situation for both the employer and the employee involved in the plan.  Please contact us for further information.

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