Summary of Material Modifications

What is Summary of Material Modifications ?

‘Summary of Material Modifications’ or ‘SMM’ refers to the documented summary that needs to be provided by the pension providers, in case any changes are made to the materials. The materials in this context refers to the benefits provided to the pensioners, responsibilities entrusted to them as well as the eligibility criteria to be a part of the pension scheme.

It is generally furnished as a notice by the plan administrators to the pensioners or any other interested party. As per law, it needs to be provided within 210 days or 30 weeks after the end of the plan year in which the changes were adopted.

However, in the case wherein the benefits have been reduced, the SMM needs to be furnished and distributed to the scheme holders within 60 days of the changes.

Contact Us

First Name(Required)
Company Name(Required)
This field is for validation purposes and should be left unchanged.

Contact Us

Name(Required)
Company Name(Required)
This field is for validation purposes and should be left unchanged.

We value your privacy

We use cookies on our website to provide you with the best experience. If you continue browsing, you consent to our use of these cookies. If you like to know more, take a look at our “privacy policy”.