Get the free Summary plan description - Laborers Benefit Fund

SUMMARY PLAN DESCRIPTION BUFFALO LABORERS SECURITY FUND DATED: July 1, 2013 7628×17895014 current×15311782v9 Board of Trustees Union Trustees Employer Trustees Samuel Capital Laborers Local Union

How to fill out summary plan description

How to fill out a summary plan description:

1. Start by gathering all relevant information about the employee benefit plan. This includes details about the plan's coverage, eligibility requirements, and any specific rules or provisions.
2. Review the plan's legal documents, such as the plan document, trust agreement, and any amendments or restatements. These documents will provide guidance on what information needs to be included in the summary plan description.
3. Begin drafting the summary plan description by providing a clear and concise overview of the plan. Include the plan's purpose, objectives, and a brief history if applicable.
4. Describe the plan's eligibility requirements, including who is eligible to participate, any waiting periods, and how to enroll in the plan.
5. Outline the coverage provided by the plan, such as medical, dental, vision, retirement, life insurance, and any other benefits included. Be sure to include details on the level of coverage, any exclusions or limitations, and how claims are processed.
6. Explain how contributions to the plan are made, whether they are employer-funded, employee-funded, or a combination of both. Include any employer matching or profit-sharing contributions if applicable.
7. Provide information on how participants can access their benefits and any required procedures or forms. This may include instructions on filing claims, designating beneficiaries, and updating personal information.
8. Include details on the plan's administrative procedures, such as how disputes are resolved, the plan's fiduciaries, and any applicable deadlines or timeframes.
9. Clearly explain participants' rights and responsibilities under the plan, including their right to privacy, timing of benefit distributions, and any required participant contributions.
10. Finally, review the completed summary plan description for accuracy, clarity, and compliance with legal requirements. Ensure that the document is written in a language that is easily understood by the plan participants.

Who needs a summary plan description?

1. Employers who offer employee benefit plans to their employees are required by law to provide a summary plan description.
2. Plan administrators and HR professionals who oversee the administration of employee benefit plans should have a summary plan description to ensure compliance with legal requirements.
3. Plan participants, such as employees or eligible dependents, should have access to a summary plan description to understand the details of the benefit plan and their rights and responsibilities.

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