A trust carrying out a multiple employer welfare arrangement must be established and maintained by an association or group of employers meeting the following requirements:
(1) The association or group must be composed of five or more employers that are in the same trade or industry, including employers in closely related businesses that provide support, services or supplies primarily to that trade or industry.
(2) The association or group must be engaged in substantive activity for its members other than sponsorship of an employee welfare benefit plan.
(3) At the time of application for a certificate of multiple employer welfare arrangement, the association or group must have applications for participation in the multiple employer welfare arrangement from five or more employers and show that it will provide similar benefits for 200 or more participating employees.
(4) The association or group must have been in existence as an association or group described in subsection (1) of this section for a period of not less than two years prior to the date of application for the certificate of multiple employer welfare arrangement.
(5) The association or group must establish and maintain an employee welfare benefit plan through the multiple employer welfare arrangement, and the plan must be controlled and sponsored directly by participating employers.
(6) The association or group must show that the annual gross contributions of the employee welfare benefit plan will be not less than $50,000 for a plan that provides only vision benefits, $175,000 for a plan that provides only dental benefits, and $450,000 for any other plan. [1993 c.615 §5]
Note: See note under 750.301.Section: Previous 750.250 750.260 750.270 750.300 750.301 750.303 750.305 750.307 750.309 750.310 750.311 750.313 750.315 750.317 750.318 Next
Last modified: August 7, 2008