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211. Who is the Plan Sponsor?

     Created On: 09/27/2018 in Retirement Plan Administration Frequently Asked Questions (FAQ) Account Maintenance FAQ
     The term Plan Sponsor refers to the Employer who established and maintains the Plan. The entity is defined in the Plan Document. The Plan Sponsor has several major responsibilities: To act in the interest of the participants and beneficiaries To ...

212. Who and What is a Fiduciary?

     Created On: 09/27/2018 in Retirement Plan Administration Frequently Asked Questions (FAQ) Account Maintenance FAQ
     A fiduciary is any person who uses their own discretion when administering and managing the plan or controlling the plan’s assets. Fiduciary status is based on functions performed, not just a person’s title. They ordinarily include the trustee(s), i...

213. Who is the Third Party Administrator (TPA)?

     Created On: 09/27/2018 in Retirement Plan Administration Frequently Asked Questions (FAQ) Account Maintenance FAQ
     Sentinel Benefits & Financial Group is the third party administrator and recordkeeper, a non-fiduciary, helping you fulfill your administrative and compliance responsibilities in connection to the retirement plan. This includes assistance with compl...

214. What is a Fidelity Bond?

     Created On: 09/27/2018 in Retirement Plan Administration Frequently Asked Questions (FAQ) Account Maintenance FAQ
     ERISA requires that every fiduciary of an employee benefit plan and every person who handles plan funds be bonded. These bonds cover the plan from loss of assets due to fraud or dishonesty. The ERISA bond is required to protect the participants and ...

215. What are 3(16) Plan Administration Services?

     Created On: 09/27/2018 in Retirement Plan Administration Frequently Asked Questions (FAQ) Account Maintenance FAQ
     Every tax-qualified retirement plan must have a person that serves as the “Plan Administrator” as defined in ERISA Section 3(16). The Plan Administrator is a statutory plan fiduciary and is ultimately responsible for all aspects of running the ERISA...

216. Online Enrollment Instructions

     Created On: 09/25/2018 in Reimbursement Accounts Document Library
     Instructions for enrolling online through the Sentinel Group website. Only to be used during annual open enrollment by employers utilizing the Sentinel website for online enrollment. Sentinel Online Enrollment Instructions ...

217. FSA Eligible Expense Lists

     Created On: 09/25/2018 in Reimbursement Accounts Document Library
     List of eligible items for Medical and Dependent Care FSA.

218. Participant Guides

     Created On: 09/25/2018 in Reimbursement Accounts Document Library
     Participant guides for employees enrolled in FSA, HSA and Commuter benefits. FSA Participant Guide HSA Participant Guide Commuter Account Participant Guide ...

219. Employee Brochures (Reimbursement Accounts)

     Created On: 09/25/2018 in Reimbursement Accounts Document Library
     Employee brochures providing overview of flexible spending accounts. Generally distributed to new hires and during open enrollment. Healthcare FSA Dependent Care FSA Limited Purpose FSA Health Savings Account (HSA) Commuter Accounts ...

220. Online Account Access Instructions (Reimbursement Accounts)

     Created On: 09/25/2018 in Reimbursement Accounts Document Library
     Employee instructions for accessing the Consumer Portal for FSA, HSA, HRA and Commuter Accounts. Sentinel Account Access for Reimbursement Accounts ...

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