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2020 Summary of Material Modifications (SMM) for the LSC Group Benefits Plan and LSC Flexible Benefits PlanIssued November 2019LSC Communications12020 Group Benefits Plan and Flex Plan Introduction The
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Modifications SMM refers to the process of updating or amending a Plan's Summary Plan Description (SPD) to reflect changes in plan provisions or benefits.
Employers and plan administrators who sponsor employee benefit plans are required to file modifications SMM when there are changes to the plan.
To fill out modifications SMM, gather information on the changes made to the plan, complete the required sections detailing these changes, and ensure compliance with ERISA requirements.
The purpose of modifications SMM is to notify participants of significant changes to their benefit plans and ensure transparency and compliance with federal regulations.
Modifications SMM must report the nature of the changes, the effective date of these changes, and how they affect plan participants' rights and benefits.
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