Compensation Solutions will provide your company with a Fortune 500 or "Big Company" style integrated personnel management program.
Your employees will have access to the same human resources and benefits programs as the nation's largest companies (Employee Benefits, Direct Deposit, Workers Compensation, Staffing, etc.), while still maintaining your small to mid-sized company culture.
Overview of ASO Features
|Classic ASO||Classic ASO Detail||Considerations for your company|
|Employer of Record Responsibilities||Employer and employee taxes reported and deposited under the Client’s FEIN.||In an ASO arrangement, the ASO does not formally take on the employer of record responsibilities. Although they provide all of the same governmental reporting tasks, it is done under the Federal Employer Identification Number (FEIN) of the client company, much like a payroll service might do. The client company remains legally responsible for all tax remittances and payroll law compliance. The ASO will require you to sign a Client Service Agreement (CSA) when becoming a client. This is an important document which defines each party's responsibilities in the ASO relationship.|
|Workers’ Compensation Insurance||Coverage provided by client's policy. ASO named as broker of record.||If your company currently has an attractive Workers' Compensation insurance policy in place, an ASO arrangement can help you administer your own policy. An ASO can also assist you with obtaining a new workers' compensation policy with the ASO being named as broker of record (BOR).|
|Safety and Risk Management||Claims management provided by ASO. Safety guidance provided by ASO.||If the ASO is assisting you with obtaining your own workers' compensation policy, then as BOR the ASO will take on an advisory role... any adverse claims experience will affect your experience rating. Depending upon the level of service you have contracted for, an ASO can provide a cost effective solution in creating and managing safety committees, safety training, and a safety awards program.|
|Health, Dental & Vision Plans||Coverage provided by client's policy. ASO named as broker of record.||If your company currently has an attractive Health Plan in place, the ASO as BOR can assist you with the administration of your plan. Your ASO may also assist you with obtaining quotes for alternate health plans. By designating the ASO as your BOR, you will allow your ASO access to billing, enrollments, claims assistance, disputes and other plan administrative tasks.|
|Supplemental Benefits & Retirement Plans||Supplemental benefits offered by client's policy in client's name. 401(k) sponsored by client may choose Stand Alone or MEP. ASO named as broker of record.||Supplemental Benefits cover a large area of services including: Life Insurance, Short Term Disability, Long Term Disability, 401(k), Flexible Spending Account (FSA), etc. ASOs often have master multiple employer policies in place that may be made available on a voluntary basis to your employees. For 401(k) plans, the rules for ASOs have changed recently. ASOs may assist your company in setting up a 401(k) plan that meets your needs and satisfies governmental regulations. Types of plans available may include: Traditional 401(k), Simple 401(k), Safe Harbor 401(k) or Profit Sharing.|
|Human Resources||Multitude of HR services available are offered in either “a la carte” or bundled pricing.||ASOs vary widely in their offerings and pricing for HR services. Some services, like preparation of employee handbooks, are included while others, such as drug testing, may be provided for an additional fee. Once you are engaged with an ASO you will be assigned a dedicated HR professional to assist with your HR needs. If you currently have an HR staff member, the ASO can act as an invaluable advisor to him/her. The HR services you expect need to be clearly listed in the CSA.|
|Regulatory Compliance||Client’s responsibility with assistance provided by ASO's best practices.||ASOs work to ensure compliance with a multitude of governmental regulatory agencies. Employer rules regarding policies, procedures, employee handbooks and other regulatory issues vary from state to state. Clarifying and distributing formal policies and procedure can reduce your company's liabilities in the event of a sexual harassment, discrimination suit, workers compensation or unemployment claim.|