ERISA Documentation & Form 5500

Summary Plan Description (SPD)

Start by listening to the audio cast and then continue with the content below. 

Summary Plan Descriptions (or SPDs) provide a summary of key plan provisions and should be understood by the average plan participant.



Although there isn’t model language or a set format, the regulations set forth a long, detailed list of SPD content requirements.



SPDs must be distributed to all plan participants


- Within 90 days after becoming a participant in the plan - Updated SPDs incorporating any changes must be distributed every 5 years - SPDs must be distributed every 10 years even if no changes have been made