Sec. 242. Modification of deadlines for summary plan description updates
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Paragraph
(1)of section 104(b) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1024(b)(1) ) is amended to read as follows: The administrator shall furnish to each participant, and each beneficiary receiving benefits under the plan, a copy of the summary plan description, and all modifications and changes referred to in section 102(a)— within 90 days after becoming a participant, or in the case of a beneficiary, within 90 days after first receiving benefits, or if later, within 120 days after the plan becomes subject to this part. Except as provided in clause (ii), the administrator shall furnish to each participant, and each beneficiary receiving benefits under the plan, every fifth year after the plan becomes subject to this part an updated summary plan description described in section 102 which integrates all plan amendments made within such five-year period, except that in a case where no amendments have been made to a plan during such five-year period, this sentence shall not apply. Notwithstanding the foregoing, the administrator shall furnish to each participant, and to each beneficiary receiving benefits under the plan, the summary plan description described in section 102 every tenth year after the plan becomes subject to this part. In the case of a pension plan, the administrator shall furnish to each participant, and each beneficiary receiving benefits under the plan, 210 days after the end of each remedial plan review period, an updated summary plan description described in section 102 which integrates all plan amendments made during such period, except that if no amendments have been made to a plan during such period, an updated summary plan description shall be furnished not later than 210 days after the end of the subsequent remedial plan review period (without regard to whether plan amendments were made during such subsequent period). If there is a modification or change described in section 102(a) (other than a material reduction in covered services or benefits provided in the case of a group health plan (as defined in section 733(a)(1))), a summary description of such modification or change shall be furnished not later than 210 days after the end of the plan year in which the change is adopted to each participant, and to each beneficiary who is receiving benefits under the plan. For purposes of clause (i), any amendment to a pension plan adopted during a remedial plan review period shall be treated as adopted in the plan year in which the amendment took effect. If there is a modification or change described in section 102(a) that is a material reduction in covered services or benefits provided under a group health plan (as defined in section 733(a)(1)), a summary description of such modification or change shall be furnished to participants and beneficiaries not later than 60 days after the date of the adoption of the modification or change. In the alternative, the plan sponsors may provide such description at regular intervals of not more than 90 days. In this paragraph, the term remedial plan review period means, with respect to any pension plan, the period established by the Secretary of the Treasury under the authority of subsection
(b)of section 401 of the Internal Revenue Code of 1986 as the regular cycle of review by the Secretary of the Treasury for determining whether the pension plan continues to meet the requirements of such Code for treatment as a qualified plan under subsection
(a)of such section 401. . The amendments made by this section shall apply with respect to summary plan descriptions furnished under section 104(b) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1024(b) ), and modifications or changes described in section 102(a) of such Act ( 29 U.S.C. 1022(a) ), with respect to plan years beginning after December 31, 2013.
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