summary plan description

Definition

SPD. A document containing a comprehensive description of a retirement plan, including the terms and conditions of participation. The summary plan description is distributed to potential participants in advance of enrollment.

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You should always try to make sure that you know the full summary plan description and follow it as best you can.

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Make sure you read the summary plan description closely before you except their job offer, to make sure it's a good plan.

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Choosing a retirement plan can be tough, which is why it is imperative to always review the summary plan description before enrolling to understand what the plan covers and how it operates.

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Summary of Material Modifications summary possession