Financial Dictionary

Financial Dictionary - definitons of investment, economic and financial terms

Atlantic Financial

Atlantic Financial

Investment Word

Summary Plan Description

Add to GoogleAtlantic Financial Investment Word RSS Feed

A document provided by the plan administrator that includes a description of the retirement plan. Some items that the Summary Plan Description may include are:

when employees may begin to participate in the plan

how service and benefits are calculated

when benefits become vested

when payment is received and in what form

how to file a claim for benefits

Participants must be informed of material changes to the plan, either through a revised Summary Plan Description or in a separate document called a Summary of Material Modifications.

Summary Plan Description - definition

Back to the top of the page for Summary Plan Description