ERISA
COMPLIANCE AND ADMINISTRATION:
An Example of the Rael & Letson Approach |
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Issue:
The Pension Plan has been amended several times and the Summary Plan Description
(SPD) is four years old. The Trustees knew that a new SPD must be made available
to participants every five years so they asked Rael & Letson to draft a
new SPD. |
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Process:
Rael & Letson assigned an SPD specialist on their staff who prepared a revised
SPD. Drafts were sent to the Administrator and Legal Counsel for review
and comments. Final draft copies were sent to the Trustees. |
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Outcome:
The Board received a revised copy of the SPD ready for distribution prior
to the fifth year deadline. All ERISA requirements for the SPD were included.
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