# Summary plan description

> Summary plan description — The plain-language explanation of an ERISA plan a participant is owed within 90 days of becoming covered — and a new plan within 120 days of becoming subject to ERISA.

Source: https://lopifi.com/glossary/summary-plan-description
Part of: Lopifi — US GAAP books on autopilot, checked by a CPA (https://lopifi.com)

---

**What is summary plan description?** In accounting, summary plan description means the plain-language explanation of an ERISA plan a participant is owed within 90 days of becoming covered — and a new plan within 120 days of becoming subject to ERISA.

## Also known as

- SPD

## Words this system refuses for it

- plan document
- SBC (the standard benefits summary)

- **Category:** Benefits
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** erisa