Benefit Trust Services


Polycomp provides trade and business associations with outstanding benefits administration so their members can focus on running their businesses; not dealing with the complexities of benefits administration and compliance. Each client is provided with a trained and responsive team of Benefit Trust Administrators.

We administer benefits such as Health & Welfare, Retirement Plans (prevailing wage 401(k)), and Craft Trade Training to participating employees by establishing Trust Funds. We offer an Hour Banking solution as well that enables many prevailing wage employers to offer hourly employees benefit continuation during periods of fluctuating work.

Invoicing and Administration

  • Determine and monitor eligibility
  • Enrollment and process changes
  • Provide premium billing and collection
  • Verification of employer contributions
  • Manage carrier and vendor relationships

Accounting

  • Establish and maintain a system of accounting
  • Process trust expense payments
  • Provide financial statements required for all parties, auditors, DOL and IRS
  • Maintain collection procedures for employers with delinquencies

Reporting

  • Generate benefit reports for participating employers
  • Maintain records as required by the Trust
  • Prepare government reporting and provide audit assistance
  • Track hour/dollar banking

Employee Support

  • Communicate directly with membership
  • Provide full COBRA administrative services
  • Answer inquiries from participating employers and employees

Connect with Polycomp today

Get your questions answered and explore options for your Benefit Trust. We can review your current plan and offer our opinion at no cost to you.