Sallie Mae 2015 Annual Report Download - page 230

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adversely affect the rights of any Participant with respect to benefits that are payable or may
become payable under the Plan based upon the balance of the Participant’s Accounts as of
the effective date of such amendment, suspension, discontinuance or termination.
Notwithstanding the foregoing, in no event shall any amendment, modification or
termination be made in a manner that is inconsistent with the requirements under Code
Section 409A, nor shall any amendment, modification or other act or exercise be effective
which involves an unintentional material modification (within the meaning of Code
Section 409A and any guidance issued thereunder) with respect to Grandfathered Funds.
Section 13.2. Claims Procedure.
(a) Claim
A person who believes that he is being denied a benefit to which he is entitled under
the Plan (hereinafter referred to as a “Claimant”) may file a written request for such benefit
with the Plan administrator, setting forth the claim.
(b) Claim Decision
Upon receipt of a claim, the Plan administrator shall advise the Claimant that a reply
will be forthcoming within ninety (90) days and shall, in fact, deliver such reply within such
period. The Plan administrator may, however, extend the reply period for an additional
ninety (90) days for reasonable cause.
If the claim is denied in whole or in part, the Claimant shall be provided a written
opinion, using language calculated to be understood by the Claimant, setting forth:
(1) The specific reason or reasons for such denial:
(2) The specific reference to pertinent provisions of this Agreement on
which such denial is based;
(3) A description of any additional material or information necessary for
the Claimant to perfect his claim and an explanation why such
material or such information is necessary; and
(4) Appropriate information as to the steps to be taken if the Claimant
wishes to submit the claim for review.
(c) Request for Review
Within sixty (60) days after the receipt by the Claimant of the written opinion
described above, the Claimant may request in writing that the Committee review the
determination of the Plan administrator. The Claimant or his duly authorized representative
may, but need not, review the pertinent documents and submit issues and comment in writing
for consideration by the Committee. If the Claimant does not request a review of the initial