Summary Plan Description (SPD)
(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.
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