Get to Know ABC
Administering employee benefits can be complex and time-consuming. Wish there were an easier way? Associated Benefits Corporation (ABC) provides administrative and consulting services for employee benefit plans to the cooperative system. We began administering employee benefit plans for the cooperative system in 1953. Today, we’re an independent provider of employee benefit plans to the cooperative system.
ABC is governed by the cooperatives we serve.
Our ten-member board of directors represents the local cooperatives and regional organizations we serve. We are also governed by the laws and regulations of the Internal Revenue Service (IRS), the Department of Labor and the Pension Benefit Guarantee Corporation, as they cover the field of employee benefits.
ABC administers employee benefits at reasonable costs.
As a not-for-profit organization, ABC collects only enough administrative fees from the cooperatives we serve to cover the cost of plan administration. Thanks to this, along with economies of scale, our fees have remained at levels well below those of local, regional and national administrative firms.
ABC can help minimize your fiduciary responsibilities.
When ABC administers a plan, we are named in the plan document as the administrator. Wells Fargo is named as the trustee.
“Delivering quality employee benefit programs and services, at the most reasonable cost possible, to cooperatives.”
ABC supports the following coop organizations:
Agribusiness Association of Iowa
Iowa Institute for Cooperatives
Kansas Cooperative Council
Kansas Farmers Service Association
Minnesota Grain and Feed Association
Nebraska Coop Council
South Dakota Association of Cooperatives