Erisa

The plan describes the program benefits and how the plan works. The plan must answer specific questions such as the plan name, the plan's IRS-assigned number, the employer's name and address, and a statement of health and accountability rights.

The summary plan description is an important document that tells participants what the plan provides and how it operates. It provides information on when an employee can begin to participate in the plan and how to file a claim for benefits.

ERISA requires plans to provide participants with plan information including important information about plan features and funding; sets minimum standards for participation, vesting, benefit accrual and funding; provides fiduciary responsibilities for those who manage and control plan assets; requires plans to

The Summary Plan Description (SPD) is one of the important 401(k) plan documents that provides plan participants (and their beneficiaries) with the most important details of their benefit plan, like eligibility requirements or participation dates, benefit calculations, plan management instructions, and general member

A Summary Plan Description (SPD) is a document that employers must give free to employees who participate in Employee Retirement Income Security Act-covered retirement plans or health benefit plans.

The Employee Retirement Income Security Act (ERISA) requires plan administrators to give to participants and beneficiaries a Summary Plan Description (SPD) describing their rights, benefits, and responsibilities under the plan in understandable language. The SPD includes such information as: Name and type of plan.

Summary Plan Description (SPD) A reporting requirement of the Employee Security Act (ERISA) that obligates employers to describe the plan's funding, eligibility requirements, risks, and so forth within 90 days after an employee has entered the plan.