§ 51.1-1001 Summary plan description
A. A summary plan description shall contain the following information: the name and type of administration of the retirement system; the name and address of the person designated as agent for the service of legal process, if such person is not the administrator; the name and address of the administrator; names, titles and addresses of any trustee or trustees (if they are persons different from the administrator); the retirement system’s requirements respecting eligibility for membership and benefits; and description of the provisions providing for nonforfeitable pension benefits; circumstances which may result in disqualification, ineligibility, or denial or loss of benefits; the source of financing of the retirement system and the identity of any organization through which benefits are provided; the date of the end of the retirement system plan year and whether the records of the retirement system are kept on a calendar, policy, or fiscal year basis; the procedures to be followed in presenting claims for benefits and the remedies available for the redress of claims which are denied in whole or in part.
B. The summary plan description shall be written in a manner calculated to be understood by the average retirement system member and beneficiary and shall be sufficiently comprehensive to apprise the members and beneficiaries of their rights and obligations under the retirement system plan.
C. Every member and beneficiary shall be furnished a summary plan description within 90 days of becoming a member or beneficiary, and every member and beneficiary shall be furnished an updated summary plan description within 210 days after the end of the retirement system plan year in which a material modification or change in the retirement system or its plan occurs. No charge shall be made for furnishing a copy of the SPD under this subsection.
D. Upon written request, the latest updated summary plan description shall be furnished to any member or beneficiary. A reasonable charge may be made to cover the cost of furnishing an SPD under this subsection.
History
This law was first created in 1990. The record of its establishment is cataloged in chapter 706 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1990 “Acts” aren’t available online. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2004, chapter 209.
1990, c. 706; 2004, c. 209.