Page 41 - Walden Security
P. 41
Core Services
How we manage it
Every call. Every email. Every day.
Client - SAMPLE Implementation Overview
SAMPLE SERVICE CALENDAR REGULARLY SCHEDULED
Employee Benefits Strategy Timeline
Project Owner Target Date Completion Task Status (WEEKLY/BI-WEEKLY) STATUS CALLS
Date
Lockton/Client Kickoff Process
Data sent to prepare broker of record letters Client 7/1/2020
Broker of record letter prepared for signature Lockton 7/2/2020
Broker of record letters signed and returned Client 7/7/2020
Implementation Overview Lockton/Client 7/7/2020
Broker of record letter and data request to carriers Lockton 7/7/2020
Meeting 1 (meet respective teams & discuss open items,
high level benefit observations, begin strategic discussion Lockton/Client 7/9/2020
for 2021)
Current census sent Client 7/13/2020
2020 Compensation Disclosure Lockton 7/23/2020
InfoLock Set Up Request Lockton/Client 7/15/2020
IBNR/Reserve Analysis Lockton/Client Quarterly (one certified)
Compliance Calendar Lockton 7/15/2020
Compliance Review - ERISA Documents Lockton/Client 8/20/2020
2020 Policy/Contract Review Lockton TBD
Monthly Financial Reporting Lockton 30th of each month
Annual 5500 Filing Lockton Due 7/31/21
Strategic Direction
Financial Projection and Modeling Lockton 8/18/2020
Detailed strategic discussion surrounding identified topics Lockton/Client 7/24/20 and 7/31/20
from Meeting 1
Present multi-year strategy Lockton 8/18/2020
Network and Discount Analysis Lockton 8/7/2020
Benchmarking Lockton 8/7/2020
Wellness (Health Risk Solutions)
Strategy Discussion Lockton/Client 8/18/2020
Program/Vendor Discussions Lockton/Client 8/18/2020
InfoLock Presentation Lockton 10/15/2020
Program/Vendor Decisions Client TBD
Implementation Lockton/Client TBD
Renewal and Budgeting
Request Renewals from Carriers Lockton 7/7/2020
Current Carrier Renewals - Received Lockton 8/3/2020
2021 Budget Presentation Lockton 8/18/2020
Welfare plan compliance calendar | 2020
Final Negotiation with Insurance Carriers/Vendors Lockton 9/3/2020 COMPLIANCE CALENDAR
Present final 2021 Scenarios Lockton 9/15/2020
Final 2021 Decisions Client TBD Fixed deadlines
Confirmation sent to Selected Carriers/Vendors
OPEN ITEMS Lockton TBD Fixed deadlines Action Comments
for CY plans
Applies to all employers.
O Onnggooiinngg oobblliiggaattiioonn P Poosstt aa UUSSEERRRRAA nnoottiiccee Model notices are available from the Labor Department ’s EBSA and VETS websites. There
are separate notices for federal agencies and other employers. Notice may be posted
SAMPLE Employee Benefits Action Items Log - Client/Lockton where labor relations notices are posted.
Applies to ERISA and non -ERISA grandfathered plans subject to health reform.
Presumably m ust be given to all plan participants not later than the first day of each plan
year with respect to which the plan maintains grandfathered status and should be
D Diissttrriibbuuttee nnoottiiccee ooff included in plan materials supplied to participants. Most sponsors will simply include this
J Jaann.. 11 g grraannddffaatthheerreedd ssttaattuuss in open enrollment materials.
Action Item Carrier / Vendor / Etc. Intake Date Resolved Comments/Action Solution / Resolved Your Lockton account service team has model notice language. Electronic notice should Welfare Plan
be acceptable, subject to compliance with comprehensive federal regulations for the
Date
provision of electronic notices.
M Maakkee SSaann FFrraanncciissccoo For employers subject to the San Francisco Healthcare Security Ordinance. Compliance
J Jaann.. 3300 H HCCSSOO ccoonnttrriibbuuttiioonnss ffoorr Quarterly contributions, if any, are due 30 days after the close of each calendar quarter.
p prriioorr ccaalleennddaarr qquuaarrtteerr But see the end of February entry below for self -funded employers utilizing the annual Calendar
true-up method.
Imputed income might be an issue where health coverage is provided to non-dependent Calendar - y ear p lans with p lan y ears
domestic partners and/or their children, or to an employee’s non-dependent adult,
biological, step, adopted or foster child beyond the year the child attains age 26, or to beginning Jan. 1
other individuals (e.g., grandchildren) who are not the employee’s dependents for federal
R Reeppoorrtt iimmppuutteedd ttaaxxaabbllee tax purposes. 2020
J Jaann.. 3311
i innccoommee oonn FFoorrmmss WW--22 Health coverage supplied to a same -sex spouse is nontaxable (for federal tax purpos es)
to the employee. Compliance Services Division, Lockton Benefit s
© © 2020 Lockton Companies
Imputed income may also arise under group -term life insurance, and some LTD
programs. Revised January 2020
State income taxation may vary from federal taxation, depending on the circumstance.
Walden Security — Lockton Employee Beneits Practice Overview 41 Lockton Companies
N Noottee:: Generally, when a filing deadline or notice obligation falls on a Saturday, Sunday or federal holiday, the filing or notice may be filed or
distributed on the next day that is not a Saturday, Sunday or federal holiday.
1
Lockton Companies
How we manage it
Every call. Every email. Every day.
Client - SAMPLE Implementation Overview
SAMPLE SERVICE CALENDAR REGULARLY SCHEDULED
Employee Benefits Strategy Timeline
Project Owner Target Date Completion Task Status (WEEKLY/BI-WEEKLY) STATUS CALLS
Date
Lockton/Client Kickoff Process
Data sent to prepare broker of record letters Client 7/1/2020
Broker of record letter prepared for signature Lockton 7/2/2020
Broker of record letters signed and returned Client 7/7/2020
Implementation Overview Lockton/Client 7/7/2020
Broker of record letter and data request to carriers Lockton 7/7/2020
Meeting 1 (meet respective teams & discuss open items,
high level benefit observations, begin strategic discussion Lockton/Client 7/9/2020
for 2021)
Current census sent Client 7/13/2020
2020 Compensation Disclosure Lockton 7/23/2020
InfoLock Set Up Request Lockton/Client 7/15/2020
IBNR/Reserve Analysis Lockton/Client Quarterly (one certified)
Compliance Calendar Lockton 7/15/2020
Compliance Review - ERISA Documents Lockton/Client 8/20/2020
2020 Policy/Contract Review Lockton TBD
Monthly Financial Reporting Lockton 30th of each month
Annual 5500 Filing Lockton Due 7/31/21
Strategic Direction
Financial Projection and Modeling Lockton 8/18/2020
Detailed strategic discussion surrounding identified topics Lockton/Client 7/24/20 and 7/31/20
from Meeting 1
Present multi-year strategy Lockton 8/18/2020
Network and Discount Analysis Lockton 8/7/2020
Benchmarking Lockton 8/7/2020
Wellness (Health Risk Solutions)
Strategy Discussion Lockton/Client 8/18/2020
Program/Vendor Discussions Lockton/Client 8/18/2020
InfoLock Presentation Lockton 10/15/2020
Program/Vendor Decisions Client TBD
Implementation Lockton/Client TBD
Renewal and Budgeting
Request Renewals from Carriers Lockton 7/7/2020
Current Carrier Renewals - Received Lockton 8/3/2020
2021 Budget Presentation Lockton 8/18/2020
Welfare plan compliance calendar | 2020
Final Negotiation with Insurance Carriers/Vendors Lockton 9/3/2020 COMPLIANCE CALENDAR
Present final 2021 Scenarios Lockton 9/15/2020
Final 2021 Decisions Client TBD Fixed deadlines
Confirmation sent to Selected Carriers/Vendors
OPEN ITEMS Lockton TBD Fixed deadlines Action Comments
for CY plans
Applies to all employers.
O Onnggooiinngg oobblliiggaattiioonn P Poosstt aa UUSSEERRRRAA nnoottiiccee Model notices are available from the Labor Department ’s EBSA and VETS websites. There
are separate notices for federal agencies and other employers. Notice may be posted
SAMPLE Employee Benefits Action Items Log - Client/Lockton where labor relations notices are posted.
Applies to ERISA and non -ERISA grandfathered plans subject to health reform.
Presumably m ust be given to all plan participants not later than the first day of each plan
year with respect to which the plan maintains grandfathered status and should be
D Diissttrriibbuuttee nnoottiiccee ooff included in plan materials supplied to participants. Most sponsors will simply include this
J Jaann.. 11 g grraannddffaatthheerreedd ssttaattuuss in open enrollment materials.
Action Item Carrier / Vendor / Etc. Intake Date Resolved Comments/Action Solution / Resolved Your Lockton account service team has model notice language. Electronic notice should Welfare Plan
be acceptable, subject to compliance with comprehensive federal regulations for the
Date
provision of electronic notices.
M Maakkee SSaann FFrraanncciissccoo For employers subject to the San Francisco Healthcare Security Ordinance. Compliance
J Jaann.. 3300 H HCCSSOO ccoonnttrriibbuuttiioonnss ffoorr Quarterly contributions, if any, are due 30 days after the close of each calendar quarter.
p prriioorr ccaalleennddaarr qquuaarrtteerr But see the end of February entry below for self -funded employers utilizing the annual Calendar
true-up method.
Imputed income might be an issue where health coverage is provided to non-dependent Calendar - y ear p lans with p lan y ears
domestic partners and/or their children, or to an employee’s non-dependent adult,
biological, step, adopted or foster child beyond the year the child attains age 26, or to beginning Jan. 1
other individuals (e.g., grandchildren) who are not the employee’s dependents for federal
R Reeppoorrtt iimmppuutteedd ttaaxxaabbllee tax purposes. 2020
J Jaann.. 3311
i innccoommee oonn FFoorrmmss WW--22 Health coverage supplied to a same -sex spouse is nontaxable (for federal tax purpos es)
to the employee. Compliance Services Division, Lockton Benefit s
© © 2020 Lockton Companies
Imputed income may also arise under group -term life insurance, and some LTD
programs. Revised January 2020
State income taxation may vary from federal taxation, depending on the circumstance.
Walden Security — Lockton Employee Beneits Practice Overview 41 Lockton Companies
N Noottee:: Generally, when a filing deadline or notice obligation falls on a Saturday, Sunday or federal holiday, the filing or notice may be filed or
distributed on the next day that is not a Saturday, Sunday or federal holiday.
1
Lockton Companies
