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SUMMARY OF MATERIAL MODIFICATION FOR THE MICHIGAN COMMUNITY SERVICES, INC. 401(k) PROFIT-SHARING PLAN AND TRUST JANUARY 2010 This Summary of Material Modification (“SMM”) to your Summary Plan Description (“SPD”) describes certain changes that have been made to the Michigan Community Services, Inc. 401(k).
Summary of Material Modification. Dear Participant: January 2018 The Trustees announce the following changes to the Health and Welfare plan of benefits: Effective January 1, 2018, the General Exclusions And Limitations section is amended by adding: nn. Any claim for a loss, expense, or charge submitted to the Plan on behalf of an individual.
Summary of Material Modifications November 2007 To: All Participants in the Elevator Constructors Annuity and 401(k) Retirement Plan, I.U.E.C. Locals and Regional Directors From: Robert O. Betts, Jr. Executive Director for the Board of Trustees.
Summary of Material Modifications: A document that describes significant or substantial changes made to a retirement plan. This disclosure is required by law to be distributed to all plan participants.
Under the authority of sections 104(a)(3) and 110 of the Act, a summary description of a material modification or change is not required to be disclosed if it is rescinded or otherwise does not take effect. For example, a calendar year plan adopts a modification in June, 1978.
SUMMARY: ERISA requires that plans provide a Summary of Material Modification (SMM) to plan participants any time there is a material modification to the plan itself or any time there is a change to the information that is required to be provided in the Summary.
If a plan is changed, participants must be informed, either through a revised summary plan description, or in a separate document, called a summary of material modifications, which also must be given to participants free of charge.