Bates & Company, Inc.
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Loan & Distribution Specialist AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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AimPoint Pension
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Overview of Final Guidance on Summary of Benefits and Coverage (PDF)
Buck [Guidance Overview] Mar. 5, 2012
Plan sponsors will need to coordinate the distribution of the SBCs with their upcoming open enrollment material. It is important to note that with respect to a participant already enrolled in the plan, an SBC must only be provided for the option in which the participant is enrolled. Whether 'passive' enrollments (where employees are not required to make an election) satisfy the requirements for automatic reenrollment is not clear. Inclusion of the SBCs in SPDs and open enrollment guides should be considered now, in order to meet the requirements most efficiently.
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