ERISA safeguards plan participants and their beneficiaries while compelling plan administrators to furnish them with essential plan details. Additionally, it establishes regulations to ensure the protection of plan funds and guarantee the disbursement of benefits to participants, even in the event of a company's bankruptcy.
If you possess benefits through Niural, here's how we support your compliance:
- We ensure compliance for employee and employer contributions by automating essential payroll deductions and retaining records.
- We distribute necessary ERISA notifications and disclosures, such as the Summary Plan Description (SPD), and keep records of when each employee received them.
- Employers can access the SPD via the Health & Welfare Doc in Company Documents, while employees can find it in the Documents section of their Niural accounts.