Does a Corrective Amendment Need an SMM

[Dennis Povloski]

Does an 11(g) amendment need all the same disclosures as ordinary amendments (such as a summary of material modifications)?

[Guest Sieve]

An SMM is mandated if it changes any of the information required to be disclosed in the SPD or if it materially modifies the plan's terms. (ERISA Section 102(a).) There is no specific exception for an -11(g) amendment.

[rcline46]

An SMM only needs to be distributed to those affected (just like the SPD). Since it usually has personal information, I would NOT distribute it.