The IQ Business Group, Inc. Releases New Employee Benefits Management Service That Helps Plan Sponsors Cut Costs, Improve Accuracy

Responding to needs expressed by Benefit Plan Sponsors and the IRS, The IQ Business Group’s Employee Benefits Practice last week launched Benefit IQTM,
a new service aimed at helping Plan Sponsors improve their plan administration.

The Benefit IQTM process:
• Improves accuracy by eliminating redundancies and human data entry errors
• Detects possible Plan rule and compliance violations
• Improves practice transparency, bridging communication between the plan sponsor, administrator and participant
• Increases confidence in the Plan

Administrator and system results through long-term cost savings, demonstrated fiscal responsibility and a deep understanding of the record-keeper or plan administrator’s internal business processes and goals.

Leveraging the appropriate services from Benefit IQ’s nine-point process offers benefits management personnel the ability to track performance and respond to market and regulatory changes quickly, while keeping costs low.
The IQ Business Group, a global operations management consulting firm specializing in project management, process improvement and applied technology, created Benefit IQTM in response to insights gathered in a series of Employee Benefits roundtables held across the U.S. earlier this year. The IQ Business Group gathered information from participating plan sponsors on issues ranging from employee non-discrimination laws to questions about IRS coding procedures. The resulting data formed the basis for the new Benefit IQTM service, available now from The IQ Business Group’s Employee Benefits Practice at www.iqgroup.com/client/eb_overview.html