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Summary Plan Description for Employee Welfare Benefit Plans

Summary Plan Descriptions

Employers that offer employee welfare benefit plans are required to provide a Summary Plan Description (SPD) to plan participants and beneficiaries. A SPD is a written document that gives information about the welfare benefit plan, a summary of benefits available, the rights and responsibilities of participants and beneficiaries under the plan, and how the plan operates.

Examples of employee welfare benefit plans that require written SPDs include, but are not limited to: health, dental, life, and long-term disability insurance.

The Employee Retirement Income Security Act (ERISA) governs employer-sponsored welfare benefit plans. An employer that fails to comply with ERISA's minimum standards can lose its favorable tax status, resulting in adverse tax consequences. The employer can also be subject to civil action to correct the violation(s), civil penalties, and criminal penalties for willfully violating any provision.

HR One develops SPDs for employer’s to help them meet their compliance requirements.

Testimonials:

“We've been affiliated with HR One since 2003. I would recommend them to anyone who's facing challenges in the Human Resource world. Their professional staff will take care of your every need from handbooks to management training, goal setting to staying current with the latest NY State labor laws. Without the help of HR One our company wouldn't be where it is today from a human resource standpoint. I want to personally thank their staff for everything they've done for us.”
Bill Gauthier (Managing Partner) - PASCO INC./MCS/MGM Development

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