Travelers 2014 Annual Report Download - page 294

(c) Appeal of Administrative Committee ’ s Determination
No later than sixty (60) days after receiving the Administrator
’ s written decision, if the Employee disagrees with the decision and
wants to pursue the matter
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further, the Employee or the Employee
’ s representative must file with the Administrator a written request for review of the
Administrator
’ s decision. No later than sixty (60) days after the Administrator ’ s receipt of the request for review, the
Administrator should render a final written decision on the claim, which decision will include the specific reasons for the
decision, including references to specific Plan provisions where appropriate.
The Administrator may extend the ninety (90)
- and sixty (60) - day periods during which the Administrator should respond to the
claimant by up to an additional ninety (90) or sixty (60) days, respectively, if special circumstances so require and if notice of
such extension is given to the Employee prior to the expiration of the initial ninety (90)
- or sixty (60) - day period. Failure on the
part of the Employee to respond to an Administrator
’ s written decision on a timely basis as described above, will be regarded by
the Employer as a waiver of any continued rights under the Severance Claim Procedures described in this Section.
Any failure by the Administrator to respond to a written request for review shall be deemed a denial of the request, based on the
same grounds identified in the initial written decision of the Administrator.
IV.8 Statute of Limitations
The claims procedure in Section IV.5 is mandatory. If an Employee has completed the entire claims procedure and still disagrees with the outcome
of the Employee
’ s claim, the Employee may commence a civil action under the Employee Retirement Income Security Act of 1974, as amended
( “ ERISA ” ). The Employee must commence such civil action within one year of the date of the final denial under Section IV.5(c) above. If the
Employee does not commence such civil action within one year of the date of the final decision, the Employee will waive all rights to relief under
ERISA.
V. PLAN ADMINISTRATION
V.1
Administration: The Company, in its capacity as Administrator of the Plan, shall have overall responsibility for the administration and
operation of the Plan, including the authority and discretion to:
(a) construe and interpret this document (or any form or other document established for use in the administration of the Plan);
(b) determine all questions, whether legal or factual, arising in the administration, interpretation and application of the Plan,
including, but not limited to the entitlement of any Employee to Severance Payments and, subject to the Employer
’ s exercise of
discretion under Section III.9, the amount of Severance Payments to be made to any Employee, and the decisions of the
Administrator shall be final and binding upon the Employee and the Employer;
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(c) communicate the Plan and its eligibility requirements to Employees;
(d) prepare and furnish to Employees all information required under Federal law or provisions of the Plan to be furnished to them;
(e) have prepared and filed all reports or other information required under Federal law to be provided to any governmental entity;
and
(f) hear, review and determine claims for benefits.
The Company, in its capacity as sponsor of the Plan (or any other Employer under the circumstances described in Section VI.1, and in its capacity
as sponsor of the Plan), is responsible for determining the form and substance of any Confidential Separation Agreement required as a condition to
the receipt of Severance Benefits under the Plan. Such Confidential Separation Agreement, to the extent it provides Severance Benefits to the
Employee, will be deemed to form part of the Plan once executed by the Employee, and the Company, as Administrator of the Plan, will have the
authority and discretion specified above with respect to such Confidential Separation Agreement.
V.2
Delegation of Authority : The Company, by action of its chief executive officer, may delegate authority to a person, persons or committee
to act on behalf of the Company in its capacity as Administrator of the Plan. In the absence of such delegation, the Executive Vice President —
Human Resources shall act on behalf of the Company in its capacity as Administrator of the Plan. Any person or committee with authority
delegated by the Company (including a delegation pursuant to the default provision of the prior sentence) may further delegate, from time to time,
authority to such person or persons as he/she/it deems advisable and may revoke any such delegation of authority. Any action by a delegate in
the exercise of delegated authority shall be action on behalf of the Administrator and shall have the same force and effect as if such action was
taken by the Company in its capacity as Administrator of the Plan.