Summary of Material Modification (SMM) | Practical Law

Summary of Material Modification (SMM) | Practical Law

Summary of Material Modification (SMM)

Summary of Material Modification (SMM)

Practical Law Glossary Item 1-502-8098 (Approx. 3 pages)

Glossary

Summary of Material Modification (SMM)

A written summary that informs participants and beneficiaries of changes to either:
A summary of material modification must be furnished not later than 210 days after the plan year in which the changes are adopted but does not need to be provided if the relevant changes are described in a timely summary plan description. For a model SMM that notifies participants and beneficiaries of changes to a retirement plan, see Standard Document, Summary of Material Modifications (SMM) for Retirement Plans.