Tribal Member Benefits
FS Advisors Inc. (FSA) has been working with American Indian Tribes for the past 15 years creating and administering tribal member benefit programs as well as implementing investment management strategies to effectively maintain and fund these programs. With the approval of the General Welfare Exclusion Act of 2014, guidelines were established that allow American Indian Tribes to provide even more non-taxable benefits to its members.
FSA has created the Tribal Member Benefits Program© that allows tribes to:
- Maximize non-taxable benefits provided to tribal members.
- Effectively administer a comprehensive benefits program electronically including tribal member benefits and a per capita savings plan.
- Produce detailed annual benefit statements for tribal members and comprehensive program reports for tribal administration.
We provide tribal leaders with a hands-on approach in identifying and developing the benefits specifically that your Tribe needs while ensuring these programs are sustainable for future generations.
FSA specializes in the design, enrollment, communication, administration and compliance of the Tribal Member Benefits Program©.
- Design - FSA assists tribes in assessing their members’ needs for priority and funding requirements and creating the necessary documents desired for implementing and administering the program. Although a plan document is not required, it is suggested that policies and procedures be developed by the tribe. Depending on the program being established and the benefit funding, amendment of a tribe’s Revenue Allocation Plan may be required.
- Enrollment - may occur with the tribe’s benefit department or by an online portal. FSA’s enrollment system allows tribal members to select tribally-sponsored benefits and/or participate in a tribally-sponsored per capita savings plan.
- Communication - Tribal leader and member education is critical for a successful TMBP. FSA provides education and communication that can be delivered by onsite workshops, community meetings, webinars, mail-outs and blogs.
- Administration - FSA’s program administration can provide tribal members with debit card options for payment of benefit services and/or process qualified payments electronically or manually. FSA provides complete program management which includes all aspects of creating and administering a program, including providing comprehensive statements to tribal members and tribal administration.
- Compliance - To ensure the integrity of the tribe’s program, FSA performs compliance testing based on the tribe’s plan guidelines and provides extensive reporting options for a tribe’s internal audit or informational purposes.
