Which document is explicitly subject to 502(c)(1) penalties for failure to produce timely documents?

Which document is explicitly subject to 502(c)(1) penalties for failure to produce timely documents?

• A. SPD (Summary Plan Description)
• B. Employee handbook
• C. Marketing brochure
• D. Payroll register

Answer: (A)

ERISA imposes penalties under 502(c)(1) for failing to furnish required plan documents to participants. The Summary Plan Description is the formal plan document that must be provided to participants and beneficiaries in a timely manner, so it is the document explicitly subject to those penalties when timely production is not met. The other items—an employee handbook, a marketing brochure, and a payroll register—aren’t ERISA plan documents, so they aren’t the ones targeted by 502(c)(1) penalties.

ERISA imposes penalties under 502(c)(1) for failing to furnish required plan documents to participants. The Summary Plan Description is the formal plan document that must be provided to participants and beneficiaries in a timely manner, so it is the document explicitly subject to those penalties when timely production is not met. The other items—an employee handbook, a marketing brochure, and a payroll register—aren’t ERISA plan documents, so they aren’t the ones targeted by 502(c)(1) penalties.