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The 4 basic elements of an employee welfare benefit plan are: - ANS 1. there must be a plan, fund or program 2. the plan, fund or program is established or maintained by an ER 3. the plan, fund or program is for the purpose of providing specifically listed benefits, through the purchase of insurance or otherwise 4. benefits are provided to participants and beneficiaries The courts have held that a plan, fund or program under ERISA is established if - ANS from the surrounding circumstances...

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The 4 basic elements of an employee welfare benefit plan are: - Answer- 1. there must be a plan, fund or program 2. the plan, fund or program is established or maintained by an ER 3. the plan, fund or program is for the purpose of providing specifically listed benefits, through the purchase of insurance or otherwise 4. benefits are provided to participants and beneficiaries The courts have held that a plan, fund or program under ERISA is established if - Answer- from the surrounding ...

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29 páginas

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Four basic elements of an employee welfare plan: - ANS Plan must exist Must be established by an employer Plan is for specific benefits Benefits are provided to participants and beneficiaries Definition of plan, fund or program: - ANS Technically not defined by ERISA Courts define as a reasonable person can ascertain the intended benefits, class of beneficiaries, source of financing, and procedure to receive benefits. Procedure required to establish ERISA plan - ANS Technically no formal ...

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Plan management responsibilities listed in an audit engagement letter: - CORRECT ANSWER-- understanding the objective of the audit - the plan's financial statements and the selection and application of the accounting policies - establishing and maintaining effective internal control over financial reporting - designing and implementing programs and controls to prevent and detect fraud - identifying and ensuring that the plan complies with the laws and regulations applicable to its acti...

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The 4 basic elements of an employee welfare benefit plan are: 1. there must be a plan, fund or program 2. the plan, fund or program is established or maintained by an ER 3. the plan, fund or program is for the purpose of providing specifically listed benefits, through the purchase of insurance or otherwise 4. benefits are provided to participants and beneficiaries The courts have held that a plan, fund or program under ERISA is established if from the surrounding circumstances,...

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