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Simplify Compliance - Why Is An SPD Needed? What Information Must It Include?

The federal law known as ERISA requires employers to provide a summary plan description (SPD) to participants describing the terms of the group health plan in layperson’s language.  The SPD must be provided to newly eligible employees within 90 days of enrollment.  In addition, the SPD must be restated and redistributed generally every 5 years.

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