AT WHAT POINT SHOULD THE SPD BE DISTRIBUTED TO PARTICIPANTS/BENEFICIARIES?

Anyone considered a participant or beneficiary of a plan must receive an SPD. It is the plan sponsor’s responsibility to provide it within 90 days of an individual becoming covered by the Plan or 120 days after becoming subject to ERISA. Every 5 years an updated SPD must be provided if any changes have occurred since the last issues date, or every 10 years if there have been no changes.