How often and to whom do Summary Plan Descriptions (SPDs) need to be furnished?
Answer • Newly covered participants must be furnished with an SPD within 90 days after he/she first becomes covered under the plan. • New plans must furnish an SPD to covered participants within 120 days after the plan first becomes subject to ERISA. Summary of Material Modifications (SMMs) are required anytime there is a “material modification” in the terms of the plan or any change in the information required to be in the SPD. SMMs are treated as part of the SPD, therefore, must be distributed as part of the SPD. • SMMs must be furnished within 210 days after the end of the plan year in which a modification or change is adopted. However, some ERISA plans include reasonable notice provisions that may require notice of a plan amendment earlier than the statutory deadline. Under DOL (Department of Labor) regulations, the plan administrator of a welfare benefit plan is required to furnish SPDs (and SMMs) only to participants covered under the plan and not to beneficiaries. There are diff
