What are the payment frequency options and what do they mean?
Interim Monthly: The interim monthly payment frequency allows Plan Sponsors to make a maximum of 12 interim payment requests for a plan year. Although 12 interim payment requests are allowed, a Plan Sponsor may choose to submit fewer than 12. The first payment request can be submitted 30 days after the plan year start date. Subsequent payment requests can be made if either 15 days have passed since the last payment approval (if the payment amount was greater than zero) or 30 days have passed since the last payment request; whichever is later. Interim Quarterly: The interim quarterly payment frequency allows Plan Sponsors to make a maximum of four interim payment requests for a plan year. Although four interim payment requests are allowed, a Plan Sponsor may choose to submit fewer than four. The first payment request can be submitted 30 days after the plan year start date. Subsequent payment requests can be made if either 15 days have passed since the last payment approval (if the payme
