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Important Information

The Administration Section of this website is designed for the exclusive use of participating Banks in the Wisconsin Bankers Association Insurance Trust ("Trust"). All information contained in this section is proprietary to the Trust. No other use of this information is permitted by anyone.

The Administration Section is intended to be a practical and useful tool to assist Banks in administering those employee benefits which they have funded through the Trust. It is a set of instructions, specimen forms and general guidelines to assist the Bank as Plan Administrator. The materials in this section are not governing documents for these benefits. If there are any discrepancies between this information and the Trust Documents or the Contracts issued by the Insurance companies to the Trust, the Trust Documents and the Contracts will control. Also, remember that the Trust Documents and the Contracts can be changed at any time; therefore each Bank needs to carefully review all materials sent to it regarding this program.

Nothing in the Administration Section constitutes legal, accounting or other professional advice or services. The information contained in this section is current as of the date shown. The Federal and Wisconsin laws and regulation that apply to this program are complex and constantly changing. If legal advice or other expert assistance is needed, consult with a competent professional.

Under the terms of the Trust, each Bank/Plan Sponsor establishes its own Welfare Benefit Plan, selecting its desired benefit coverage, which is then funded through the Trust. Each Bank/Plan Sponsor is a fiduciary and Plan Administrator with respect to its own Plan; therefore, it has certain responsibilities under the Employee Retirement Income Security Act of 1974 ("ERISA"), including the following:

Each Bank/Plan Sponsor must adopt and execute a Plan Document for the Plan funded through the Trust.

Each Bank/Plan Sponsor must distribute a Summary Plan Description and appropriate benefit booklets. It must also distribute the Annual Reports to its Plan Participants.

Each Bank/Plan Sponsor is responsible for completing documentation to participate in a specific benefit coverage and for ensuring proper enrollment of its Plan participants. For example, it must determine eligibility and report enrollments, status changes and terminations.

Each Bank/Plan Sponsor is responsible for compliance with the federal and state continuation mandates and must properly handle those terminated individuals eligible for continuation/conversion coverage.

Additionally, each Bank must administer its Plan and benefits in a uniform and non-discriminatory manner and in accordance with the Trust, Contract and Plan provisions.

Many thanks to the members of the WBA Benefits and Insurance Committee, Inc., for their invaluable dedication to the successful operation of these programs, and to the participating Banks for their continued involvement in these programs.