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What is a Summary Plan Description?

April 26, 2017description Plan summary

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What is a Summary Plan Description?

3 Answers

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A Summary Plan Description, or “SPD”, is an abbreviated listing of plan provisions, including vesting rules for employer contributions, distribution rules, and grievance procedure.

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The Summary Plan Description, or SPD, is an outline of the features of your retirement plan. As the SPD is a valuable tool for your understanding of the functions of your retirement plan, you may wish to review it for clarity. You may request a copy of your SPD from your plan administrator.

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A Summary Plan Description or SPD is a booklet that you receive when entering your plan explaining the plan provisions. If you have not received a SPD, please ask your plan administrator for a copy.