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or federal laver or pending regulations? If the answer is Yes, please <br />describe fully. <br />11. Does delivery of all services comply with all federal and state regulations, <br />including but not limited to the Health Insurance Portability and <br />Accountability Act of 199 ("HIPAA ") and the consolidated Omnibus <br />Budget Reconciliation Act of 1985 ('COBRA") ?. If not, please specify. <br />What action if any would the city need to tale once the plan went into <br />effect in order be compliant? <br />12. Describe hover the vendor(s) learn of changes in the law and current <br />legislation potentially impacting the Plan and services it/they provide? <br />How, and hoer often, does the vendor(s) advise employers of changes? <br />13. Describe your understanding of the tax consequences of your Plan for the <br />employer and for the employees. <br />14. Describe your understanding of the assurances provided under a Section <br />501(c) {9} trust to the employees that the Plan assets are safe? <br />15. Describe your understanding of the risks that the tax treatment of the <br />plan (s) will change? <br />d <br />16. Does your Plan allow deposits of severance pay due to the individual in <br />tax years after employment? If not, can you propose an additional <br />program to handle such severance payments? <br />Customer Service <br />1 . Are customer service representatives who will assist separated employees <br />with questions and inquiries members of your firm? If not, please explain. <br />2. Ho' will customer service representatives be trained on the particulars of <br />the city's post employment health care savings plan? <br />3. Hover are your employees trained in Individual investment counseling? <br />What licenses must these individuals hold? <br />4. Where is your customer service center. Will your record Keeping and <br />administrative services also be processed at this location? if not, where <br />will these services be provided? <br />5. What security procedures do you use at your customer service center to <br />authorize transactions that the participant makes over the phone? } <br />6. On average, hover lore does it tale your company to respond to individuals' <br />requests in writing and over the phone? What management procedures <br />do you havein place to monitor response time and quality of the <br />response? <br />Page 18 <br />