Plan Documents

[Guest wmpension]

Let's say that a plan has been amended and a SMM was given to the client to distribute to the employees. They hire a new employee and they want to produce a SPD that reflects the changes because they do not want to give the SMM to that new employee. Can you go into the plan document to make that change so that the SPD reflects the amendment?

[GBurns]

Do they really think that it is a good idea to have 1 employee who has what is really a different SPD and information package that is different from what all the other employees have?

I would prefer that all employees have exactly the same package.

I walso think that if a new SPD is actually produced and given to this employee it should also be given to all the others as soon as possible.

At the next distribution of SPDs give everyone the same thing then.

[Bird]

Can you go into the plan document to make that change so that the SPD reflects the amendment?

I don't know what that means, but...

I don't have a problem with giving an SMM to existing participants at the time of the change and rewriting the SPD and giving it to new participants as they enter. I do it all the time.