SUMMARY definition
Examples of SUMMARY in a sentence
ABS will assist Client to prepare any amendment and, if applicable, a Summary of Material Modification to the FSA Plan.
Client must also update the Summary Plan Description in general every five (5) years and distribute a Summary of Material Modifications within 210 days after the end of any Plan year in which the plan’s benefits were substantially modified (within sixty (60) days after the adoption of a material reduction in covered services or benefits).
The Client hereby acknowledges that ABS is not rendering any legal or accounting services or advice and that the plan and Summary Plan Description are prepared subject to the direction of and with the approval of the Client and its legal counsel.
Provide each participant with a Summary Plan Description as required by ERISA, such Summary Plan Description be distributed to new participants within ninety (90) days of their enrollment.
Upon written request, ABS shall assist the Client in developing a written plan of flexible spending account benefits (the “FSA Plan”) and Summary Plan Description for its employees in accordance with specifications provided by the Client.