27. Does your company have a compliance officer or other compliance leader?
We have built a set of compliance resources to go above and beyond what our industry generally settles for – they are truly second to none. We do this by combining cutting-edge technology solutions with tried and true in-person solutions. You will find a comprehensive compliance solution on-call from your local team, with the assurance of national resources to address any needs that arise.
An in-house benefits attorney
For local in-person resourcing, Eric Gulko, your lead relationship manager, is an attorney who has been consulting on benefits compliance matters for 25 years. This gives your group direct access to someone who understands 1) your business intimately and 2) how compliance rules impact your particular circumstances.
To bring your group even deeper compliance support, we draw on the NFP Compliance team comprised of several more attorneys, at least one of whom is a former U.S. Department of Labor benefits investigator. We work hand-in-hand with this compliance team on an almost weekly basis, addressing various client issues both locally and across the country. It’s an excellent combination.
Finally, if we need even more support, Innovo has a retainer agreement with Alden Bianchi at Mintz Levin, a national leader in this field. But, frankly, we rarely have to use Mintz given our extensive internal resources.
28. What specific compliance resources will our company have access to?
In addition to in-person resources, we also offer various online compliance support. With Innovo, you will have access to HR360 embedded into our Zywave Client Cloud, which includes many compliance resources, templates and training materials on benefits and HR topics. Compliance updates via this system, gives clients like you helpful state-by-state comparisons. In addition, we offer other tools to allow for organization-specific timely updates on compliance matters and send out podcasts and webinars on various topics throughout the year.
Our compliance reviews follow a rigid process guided by plan-specific checklists. We review each item together, corroborating against our own experiences in corporate HR to identify improvement opportunities. We fully understand the DOL DFVC program and can take other remedial measures as needed.
29. What is your process for helping us ensure we are compliant with all state and federal regulations?
Local, state and federal government are continually introducing new regulations. To help you remain in compliance, we thoroughly review all new guidelines, policies and directives. Our NFP resources also provide great value. For example, with the release of COBRA subsidy rules during COVID, many of our clients attended an NFP webinar within hours of the rules being released. To bring the learning home, we then conducted an additional webinar exclusively for Innovo clients, walking HR leaders through the practical implications and responding to questions. Finally, as COBRA outsourcers, we perform the hands-on tasks of getting lists together, adopting the required notices, and handling the end-to-end administration of this important new subsidy process.
Between these resources and the automated, customized notices through Client Cloud, we provide top-notch compliance support.
31. Do you assist clients in the preparation of their Form 5500s, Wrap Documents, Summary Annual Reports and PCORI fee filing? Is there a cost for these services?
On a continuous, proactive basis, we create all wrap plan documents and SPDs, signature-ready 5500s, and required benefits notices. We consult on all the required filings as well. There is no additional cost for these services.
32. Please detail the Compliance team who will work with us, and services offered. Will we have direct access to a Compliance officer? ERISA attorneys?
Please see previous answer regarding Eric Gulko’s accreditation as your local in-house benefits attorney. He is further supported by the NFP team and, when necessary, Innovo has a retainer agreement with Alden Bianchi at Mintz Levin.