spd
SPD.abbr. SUMMARY PLAN DESCRIPTION.
An annuity for which a party pays a lump-sum premium in exchange for receiving a specified sum at a future date. • The income earned on the investment is tax-free until it is withdrawn. — Abbr. SPDA.
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summary plan description. Under ERISA, an outline of an employee benefit plan, containing such information as the identity of the plan administrator, the requirements for eligibility and participation in the plan, circumstances that may result in disqualification or denial of benefits, and the identity of any insurers responsible for financing or administering the plan. •
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