Understanding Summary Plan Descriptions And Service Provider Agreement Requirements
Drawing on decades of experience in drafting, revising and implementing employee benefits plans, the attorneys of Pitta LLP design and review plan participant communications for employers and plan sponsors in New York and New Jersey.
The summary plan description (SPD) is the primary way of communicating plan rights and responsibilities to participants. Our lawyers draft SPDs and other benefits plan documents to ensure that they are in compliance with ERISA, the Affordable Care Act, the Pension Protection Act and other relevant laws.
In addition to our SPD services, we negotiate, review and advise on various types of service provider agreements and contracts.
SPD Requirements Under ERISA
A long list of information must be included in the SPD for it to comply with government regulations, and the information must be conveyed in such a way as to be understandable to the average plan participant. At the same time, the SPD must summarize the material provisions of the plan document.
Similarly, if a plan sponsor changes the material provisions of the plan or if an amendment to the plan changes the information required for the SPD, ERISA requires that a summary of material modification (SMM) be provided to plan participants.
Pitta LLP provides SPDs and SMMs for health and welfare insurance plans, as well as pension and retirement plans. Our attorneys assist clients to ensure compliance with ERISA and other laws governing communications with plan participants.
Learn More From Pitta LLP
The lawyers of Pitta LLP can be contacted by email or by phone at 212-652-3890.