Financial Consulting.  Let Us Do the Math.

 

Alvin G. Sullivan & Associates is an independent insurance broker and financial planning agency.

 

Mr. Sullivan and his staff are able to provide personal service in all aspects of both group

and individual insurance.

As an independent broker, representing 26 different  insurance companies, this enables my

associates and me to get the most value for your investment dollar.

 

 In the area of financial planning, we handle all portions of the transaction and deal with the outside 

persons involved,  including CPA’s, attorneys, and/or financial advisers.

 

Give us a call and let us show you how we can help!

A sense of control over financial matters increased peace of mind and more free time are typical byproducts of the 

financial planning process, enabling you to remain productively focused on personal, family and career ambitions.

 

Clients of Al Sullivan & Associates realize these benefits through a variety of personalized services.

See for yourself how we can help!

 
OUR SERVICES
OUR TEAM

Our team of dedicated professionals is committed to helping you make informed financial decisions.

 

We strive to be a trusted source of financial products and services for all our clients.

 

With our knowledge, experience, and commitment, we can help you create a comprehensive financial strategy for the future.

 
 
Need more details? Contact us

We are here to assist. Contact us by phone, email or via our social media channels.

 

Are you a business owner?

One of the biggest things Mr.Sullivan and his team can help your business with is avoiding (DOL) issues!

Mr. Sullivan and his team will help protect your business from the unknown!

As your agent, my team and I will help keep you abreast of all the latest government ERISA requirements. Let me regress a little of November 21, 2000, the Department of Labor (DOL) published regulations on the information that must be included in Summary Plan Descriptions (SPD) for both pension and welfare benefit plans. Over the next couple of years, the regulations were finalized. With the introduction of the Affordable Care Act! "Erisa" (SPD) requirements are receiving new attention. 

 

Employers are required to provide a V/rap SPD to all eligible employees and maintain a Wrap Plan Document or incur a penalty. This requirement applies to all employers/organizations, no matter what size, except government agencies and churches. The government is reviewing this requirement more carefully and increasingly performing audits to ensure employer compliance. 

 

What is an (SPD)? Employers who offer benefits (referred to as "health and welfare" benefits: medical, dental, vision, life, DI, wellness and employee assistance plans) subject to ERISA are required to distribute a 'summary plan description' (SPD) to participants, which describes (in a readable, summary form) the key terms of the plan (such as benefits offered, eligibility requirements, and costs) and includes other mandated information (such as plan sponsor information). In other words - an overview of the benefits being offered with carrier information. 

 

What are the penalties? Employers/plan administrators may be liable for serious penalties if they don't provide an (SPD) or have a current plan document: Failure to provide an (SPD) or plan document within 30 days of receiving a request from a plan participant or beneficiary can result in a penalty of up to $110/day per participant or beneficiary for each violation. Lack of an (SPD) could trigger a plan audit by the U.S. Department of Labor (DOL). Failure to furnish to the (DOL) any requested information relating to the employee benefit plan can result in a penalty of up to $149 per day (not to exceed $1,496 per request)

Please book your call back so we can help protect your business!

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