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Maximum Statutory Penalty Awarded for Failure to Provide SPD

A U.S. federal district court assessed the maximum penalty available under ERISA ($110 per day) against an employer for failing to timely provide an accurate and up-to-date summary plan description (?Ç£SPD?Ç¥) upon a participant?ÇÖs request. In 2010, the participant requested an SPD for the company?ÇÖs long term disability plan. The employer provided a copy of the 2006 SPD, at which point the participant asked if there was a more recent SPD. The employer did not respond, and so the participant hired an attorney. In response to the attorney?ÇÖs request for documents, the employer again provided the 2006 SPD and stated that additional information would be provided, though it never was. The attorney then arranged a visit to the employer?ÇÖs office to inspect the plan documents, at which point, five months after the initial request, the employer provided summaries of material modifications showing the changes to the plan since the 2006… Continue Reading

July 2012
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