1. What should I / we do when employees complain about our Plan, or do not appreciate it?
    The first step is to determine whether their issue is bonafide.  If it is, you should contact your plan administrator at FELDMAN BENEFIT SERVICES, INC. or Elise Feldman to assist you in developing ways to better promote the program to the employees and / or ways to enhance the plan.  An employee meeting (“pep-rally”) is a useful tool, as it will highlight the perks of the plan.
  2. When would a Section 125 or HSA Plan be good for us?
    When employees are paying a portion of their health insurance premiums for the employer sponsored health plan from payroll, or if they have out-of-pocket medical and/or care expenses, these plans are valuable accommodations.

    If employees took the time to write down all that they pay for deductibles, co-pays, & out-of-pocket, medical expenses for them and their family, they would be surprised at how much they have spent.

    Now, take 30% off that total.   That would go back into your employees’ pockets!  With the rising costs of health care, this is a win-win situation.

  3. Can I use a 132(f) Plan?
    Do your employees take mass transit when they travel to and from work each day?  Do they drive to work and pay for parking costs?  If you said, yes to either of these questions, then this plan may help your Company.

    This plan enables employees with out-of-pocket expenses for parking and/or for traveling to and from work to receive tax savings on what they spend for transportation costs.   Employees redirect a portion of their salary to pay for transit passes, or commuter highway and qualified parking expenses.

    Monies set aside which are not used get returned to the employees with tax adjustments.
  4. How can I / we get an independent review of our Plan?
    FELDMAN BENEFIT SERVICES, INC. would interview you as to your goals and expectations; review the employee demographics and corporate structure.  We review your current plan and make recommendations for improvement.  We coordinate opportunities to maximum benefits for key employees.  Please call to speak to one of our sales consultants about your plan.

  5. What is a Funding Policy Statement, and is it important?
    Every retirement plan is required to establish and implement a funding policy that is consistent with the objectives of the plan.  A Funding Policy Statement outlines the principles and objectives that are intended to ensure that plan investments have the proper diversification, are set to fund the plan appropriately and address emerging liabilities.  Funding Policy Statements also ensure that the Employer contributions meet the objectives of financial stability and minimization of cost shifting.


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