A detailed, but easily understood summary describing a pension plan's provisions that must be provided to participants and beneficiaries.
A description of the entire benefits package available to an employee as required to be given to persons covered by self-funded plans.
A written statement required by ERISA that describes a plan in easy-to-read language. It includes a statement of eligibility, coverage, employee rights and claims appeal procedures. This guide is the summary plan description for your Northrop Grumman Health Plan.
A written statement of a plan of benefits in an easy-to-read format, including a statement of eligibility, coverage, member rights and appeal procedure. The SPD is often synonymous with a Benefit Fund's benefit book.
A document containing specific information, such as covered benefits, about the health plan for self-funded groups. back to the top
The SPD overview of the rules and benefits of a 401(k) plan. The DOL requires the plan administrator provide a copy of the SAR to each employee participating in the plan.
A requirement of ERISA for a written statement of a plan in an easy-to-read form, including a statement of eligibility, coverage, employee rights and appeal procedures.
A booklet summarizing the benefits and options available under the Plan. It provides a Participant with information about the operation of the Plan.
This is a recap or summary of the benefits provided under the plan. It is used most often with employees covered by self-funded plans.
A summary of the benefit plan to be used as a reference tool. Summary plan descriptions are the first place to look for information when you have questions about benefits.
A simplified and condensed summary of the terms of the plan which describes the benefits to which participants may be entitled.
A description of the provisions in an employee benefit plan that is provided to plan participants (regardless of employer size) and the Labor Department.
The legal document given to health plan members of self-funded plans describing the entire benefits package.
A summary of the provisions of a pension plan, as delineated in the Plan Document.
A written description of a benefit plan that defines eligibility, coverage, benefits, employee rights, and appeal procedures.
This document summarizes the major features of an employee-benefit plan, such as what kind it is, how it is funded, who is eligible to participate, what steps must be taken to participate, how benefits will be paid out, and the like. It should be written in ordinary English rather than legalese or ERISA-ese, so a person can understand it without this glossary.
A recap or summary of the benefits provided under a health insurance plan most often used for employees covered by self-funded plans.
a simplified but comprehensive description of the plan provisions and ERISA-related material that must be provided to participants and beneficiaries. The SPD must be revised every five years if there are material modifications—and every 10 years even if no changes were made.
A document describing the features of an employer-sponsored plan. The primary purpose of the SPD is to disclose the features of the plan to current and potential plan participants. ERISA requires that certain information be contained in the SPD, including participant rights under ERISA, claims procedures and funding arrangements.
A summary plan description is a document describing the features of an employer sponsored plan. The Employee Retirement Income Security Act (ERISA) requires that SPDs address several different aspects of the plan, such as participant rights.
a document that ERISA requires be made available to participants and beneficiaries (and the DOL upon request). It must summarize the benefit plan in an easy-to-read format and cover key plan provisions.
A written statement of a group benefit plan in an easy-to-read form.
An overview of the rules and benefits of the retirement plan established by the company. The plan administrator is required by the Department of Labor to provide a copy of the summary plan description to each employee covered under the plan.
An Erisa document that defines details of group insurance coverage, including the type of employee welfare benefit plan, the eligibility requirements and the employer’s claim administration procedure.
Same as Benefit Plan Summary.
The plan’s Summary plan Description summarizes the Qualified Plan Document and is generally does not provide the detail available in the Plan Document. Also referred to as the SPD it is available to all persons eligible to participate in the plan. If you do not have your SPD you may request one form your plan sponsor.
In self-funded plans, a written explanation of the eligibility for and benefits available to employees required by ERISA.
The document required to be filed under the Employee Retirement Income Security Act (ERISA) for certain benefits programs.
For employee benefit plans, a written document that is understandable by the average plan participant and that reasonably informs participants and beneficiaries about their rights and obligations under the plan. In the United States, the Employee Retirement Income Security Act (ERISA) requires employers that sponsor employee benefit plans to provide employees with a summary plan description.
A written statement that contains information regarding participation, coverage and employee rights for any ERISA-covered benefit plan.
(1) In the United States, a document required by ERISA to provide information about a pension plan to plan participants in simple language. The SPD must, among other requirements, identify the plan's administrator and those who are responsible for managing the plan's assets, must explain the plan's eligibility requirements and the circumstances under which a plan participant could forfeit his or her benefits under the plan, and must explain the procedures for making claims under the plan. (2) In the United States, a description of various aspects of a group insurance plan which must be provided to all plan participants and to the Department of Labor.