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Cafeteria Plan Administration

Adoption Resolution

CIS will provide the appropriate Adoption Resolution necessary to put the Cafeteria Plan document into effect. If an Adoption Resolution has been previously prepared and accepted, CIS will review the Resolution to verify it meets with the current needs of the Company.

Plan Documents

A Cafeteria Plan Document for Premium Only Plans (POP) and Flex-Spending Accounts will be prepared by CIS in conjunction with Mayer Hoffman McCann, L.C. If a Cafeteria Plan document already exists, CIS will review it to ensure it is up-to-date and accurate.

Employee Enrollment

Employee Enrollment is the most important part of the Cafeteria Plan cycle. Experienced insurance professionals will perform the employee enrollment. All employees are interviewed to determine their individual needs.

Summary Plan Descriptions are distributed to all employees. This document outlines how the Cafeteria Plan works, the products which are available, and the most frequently asked questions.

Flex Spending Accounts allow each employee to save additional pre-tax money for certain medical and childcare expenses. An outline of the eligible medical expenses for the Unreimbursed Medical Accounts will be distributed. CIS will also conduct a Child Care Credit Calculation to show each employee the greater benefit of the Cafeteria Plan versus claiming the expense on the normal tax return.

A Tax Savings Worksheet will be completed to show each employee their individual savings based on their elections.

Both electronic and paper Benefit Election Forms are used to enroll the individual employees. Each employee will receive a copy of his or her Benefit Election Form to keep for his or her own record.

Discrimination Tests

The Mayer Hoffman McCann software CIS utilizes performs all necessary discrimination testing. These tests are run to keep your Cafeteria Plan within the current IRS regulations.

IRS Reporting

CIS will complete all IRS Form 5500 reports, including the appropriate attachments and schedules.

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