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Financial Dictionary

Financial Dictionary - definitons of investment, economic and financial terms

Atlantic Financial


Atlantic Financial


Investment Word

Summary Plan Description

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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

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