What’s New with Wrangle’s Wrap Plan Document and SPD

With the announcement of Wrangle moving to the ERISA Plan Documents from our parent company, Ascensus, the question on everyone’s mind is, “What does the new Plan Document offer?” There are two areas that we will highlight in this blog: the Plan Document layout of the material and the updates in the content.

Plan Document Layout

The document set is now organized into three documents instead of two. There is the main Wrap Plan Document and SPD, and in addition, there is now an Adoption Agreement. This is attached at the end of the Wrap Plan Document and has a signature line for the Plan Administrator. It takes the content of the Plan Document and converts it into an easy-to-read outlined format.

As for the Summary Plan Description (SPD), the new version has its details set up in a question-and-answer format in several categories. There is no longer a summary page at the beginning highlighting the main identifiers of the Plan. Instead, many of the identifiers are listed on page six with the Plan Year noted in the Definitions section on page eight.

Content

The new Wrap Plan Document has the following eight additional data points to convey:

1. Plan Source of Contributions (employee (EE), employer (ER), or both)
2. Employee Contributions (taken as pre-tax, post-tax, or both)
3. Claims Responsibility (ER, TPA, or both)
4. Participating Affiliated Organizations (full company details needed and relationship questions)
5. Agent for legal process (ER or other. If other, complete additional company/contact info)
6. Employee Eligibility Requirements: termination date of eligibility
7. Optional: Plan Trustee (if any)
8. Full ACA Measurement Provisions: Additional questions about rules

Helpful Tidbits

As you complete a project in the Platform, the following materials might be helpful to have on hand in case you need them for reference:

1. Prior Wrap Plan Document and SPD
2. Details on Benefit Funding [fully-insured, self-insured, or using plan assets (benefits under a trust)]
3. List of all Current Benefits
4. Carrier Billing Statements
5. ACA Measurement Provisions from payroll (if applicable)
6. Collective bargaining agreements (for plans with a Union)
7. Trust Agreement (if applicable)
8. Current Form Health and Welfare 5500
9. Past Annual Notices
10. FSA and/or Self-insured Plan Documents
11. List of Affiliated Employers with the legal company names, EINs, address, phone, etc.

To enter the new Platform and start the Wrap Plan Document and SPD project, click the “Plan Document Platform” button found on the upper righthand side of the Wrangle homepage.

Contact the ERISA Desk Team at ERISADeskInfo@ascensus.com If you have questions about the platform. For additional questions or information, please contact Ann McAdam, Project Manager, at amcadam@wrangle5500.com.