A Summary Plan Description, or SPD, is a document that explains the key details of a retirement plan in clear, easy-to-understand language. It tells you how the plan works, what benefits it offers, who is eligible to participate, how to make contributions, and when you can access your money. It also outlines your rights under the plan, including how to appeal decisions and what happens if the plan changes or ends. Employers are required to give this document to participants so they can understand their plan without needing to read complex legal or tax documents. Whether you’re just joining a retirement plan or have been in one for years, the SPD is your go-to guide for understanding how everything works.