Following the passage of ERISA, many plan sponsors recognized that their insurance policies and other plan documentation were not sufficient to satisfy all ERISA guidelines. "Wrap Plan Documents" were adopted by many employers for the following purposes:

• To satisfy the plan document requirements of ERISA by supplying information that is often missing from insurance policies.
• To simplify plan reporting requirements under ERISA's reporting and disclosure rules.

The Wrap Plan Document simply incorporates, or "wraps around," by reference, the booklets or contracts provided by insurance carriers for the benefits they provide, and contains language which either overwrites non-compliant provisions or inserts ERISA-compliant provisions that were not described in them beforehand. By "wrapping-around" existing policies, Wrap Documents effectively create a single employee welfare benefit plan. Regardless of the number of insurance policies or other written agreements currently in force,the Wrap Plan Document is an effective method for managing ERISA Plans. Whether they are insured, self-insured, funded through a trust, or paid from the general assets of the employer is of little consequence. Our team of Regulatory Compliance specialists works closely with employers to develop the Wrap Document that best meets their needs.