* The plan administrator has provided summary plan descriptions
to participants that accurately describe eligible compensation, contribution limits, service crediting rules, investment election procedures, the investment funds available under the plan, and hardship withdrawal and loan rules.
Review a client's Summary Plan Description
to determine what options exist.
Summary Summary of any Plan administrator of Material material modification Modification to the plan and any change in information required to be in summary plan description
. Summary Summary of annual Plan administrator Annual report Form 5500.
All employees with health insurance receive a summary plan description
(SPD), which outlines benefit coverage and limitations.
"But often not only plan participants but plan sponsors may read only the summary plan description
," says Framson.
* deficient summary plan description
for pension plan;
Review all pertinent plan documents, such as the summary plan description
. Moreover, before deciding to participate in a nonqualified plan, assess the future financial health of your employer.
This Sample Certificate/ Summary Plan Description
replaces any previous descriptions you may have of the DUES-TAB Term Life and Accidental Death and Dismemberment Insurance.
The sole misstep in carrying out the revised benefit policy is a failure to amend the plan document (or the summary plan description
) to conform with the company's intended and actual operation of its plan.
Plan administrators would also be required to give participants of group health plans a copy of the most recent summary plan description
with comparative data.
* Labor: interim final rule governing content of group health plan summary description, furnish summaries of material reduction in covered services or benefits, and the disclosure summary plan description
and other information through electronic media; and
If the arrangement is written into the summary plan description
(SPD), however, the missed true-up would need to be funded.