20:06:58:41.  Use of summary of material reductions in covered services or benefits. A plan or issuer may satisfy the requirements of § 20:06:58:40 by providing participants and beneficiaries, in accordance with § 20:06:58:42, with a summary of material reductions in covered services or benefits consistent with 29 CFR 2520.104b-3(d) (December 3, 2014) that also includes the information specified in § 20:06:58:40. However, in all cases, the exemption under §§ 20:06:58:34 to 20:06:58:43, inclusive, is not effective until 30 days after notice required pursuant to § 20:06:58:39 has been sent.

          Source: 41 SDR 93, effective December 3, 2014.

          General Authority: SDCL 58-17-87, 58-18-79, 58-18-79(15).

          Law Implemented: SDCL 58-17-87, 58-18-79, 58-18-80.