IS THERE A TIMEFRAME TO DISTRIBUTE THE SUMMARY MATERIAL MODIFICATIONS? IF SO WHAT IS IT?

Yes there is a time frame for distribution of SMM. The SMMs must be distribution to participants:

  1. Within 210 days after end of plan year in which amendment was adopted
  2. Within 60 days after the date the change was adopted if the change may be classified as a reduction in benefits to the average participant
  3. Material reductions in plan benefits made mid-year must be provided 60 days prior to the effective date of the change.

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