Wrap Documents for Welfare Benefit Plans

Wrap Documents for Welfare Benefit Plans

The Employee Retirement Income Security Act of 1974 (ERISA) now allows employers the use of wrap documents in conjunction with the insurance certificate or benefit booklet to satisfy ERISA’s requirements. This new document, called a “wrap document,” essentially wraps around the insurance certificate or benefit booklet to fill in the missing ERISA-required provisions. When a wrap document is used, the ERISA plan document or SPD is made up of two documents— the insurance certificate or benefit booklet and the wrap document.

For more information on wrap documents and the updated ERISA requirements, please click here.