Employee Benefits Update - May 2013

SELECT COMPLIANCE DEADLINES AND REMINDERS

Summary of Description of Material Modifications for Calendar Year Plans

Plan administrators of employee pension and welfare benefit plans must provide to each participant covered under the plan and each beneficiary receiving benefits under the plan a summary description of any material modifications (SMM) to the plan and changes to the summary plan description. Administrators must provide this summary no later than 210 days after the close of the plan year in which the modification or change was adopted, unless otherwise described in a timely summary plan description. For calendar year plans that made design changes in 2012, the deadline for providing an SMM is July 29, 2013. Please note that group health plan sponsors that make midyear material modifications to plan terms or coverage that are not reflected in the most recently provided summary of benefits and coverage (SBC) must provide notice 60 days in advance of the