INCLUDING LEGAL AND ACTUARIAL
COUNSEL (WHO MAY ALSO BE COUNSEL TO THE BANK) TO RENDER ADVICE WITH REGARD TO
ANY RESPONSIBILITY OF THE COMMITTEE UNDER THE PLAN OR TO ASSIST IN THE
ADMINISTRATION OF THE PLAN;
7.2.7.
TO DESIGNATE IN WRITING OTHER PERSONS TO CARRY OUT A SPECIFIED PART
OR PARTS OF ITS RESPONSIBILITIES HEREUNDER (INCLUDING THIS POWER TO DESIGNATE
OTHER PERSONS TO CARRY OUT A PART OF SUCH DESIGNATED RESPONSIBILITY). ANY SUCH
PERSON MAY BE REMOVED BY THE COMMITTEE AT ANY TIME WITH OR WITHOUT CAUSE;
7.2.8.
TO RULE ON CLAIMS, AND TO DETERMINE THE VALIDITY OF DOMESTIC
RELATIONS ORDERS AND COMPLY WITH SUCH ORDERS; AND
7.2.9.
ALL RULES, ACTIONS, INTERPRETATIONS AND DECISIONS OF THE COMMITTEE
ARE CONCLUSIVE AND BINDING ON ALL PERSONS, AND SHALL BE GIVEN THE MAXIMUM
POSSIBLE DEFERENCE ALLOWED BY LAW.
7.3
RULES OF THE ADMINISTRATOR.
THE
ADMINISTRATOR MAY ADOPT SUCH RULES AS IT DEEMS NECESSARY, DESIRABLE OR
APPROPRIATE. WHEN MAKING A DETERMINATION OR CALCULATION, THE ADMINISTRATOR SHALL
BE ENTITLED TO RELY UPON INFORMATION FURNISHED BY A PARTICIPANT OR BENEFICIARY,
THE BANK, THE LEGAL COUNSEL OF THE BANK, OR SUCH OTHER PERSON AS IT DEEMS
APPROPRIATE, AND SHALL FURTHER BE ENTITLED TO RELY CONCLUSIVELY UPON ALL TABLES,
VALUATIONS,
15
CERTIFICATES, OPINIONS AND REPORTS FURNISHED BY ANY ACTUARY, ACCOUNTANT,
CONTROLLER, COUNSEL OR OTHER PERSON EMPLOYED OR ENGAGED BY THE BANK WITH RESPECT
TO THE PLAN.
7.4
CLAIMS PROCEDURE.
ANY PERSON WHO BELIEVES
THAT HE OR SHE IS THEN ENTITLED TO RECEIVE A BENEFIT UNDER THE PLAN MAY FILE A
CLAIM IN WRITING WITH THE ADMINISTRATOR.
EXCEPT TO THE EXTENT THE COMMITTEE
ADOPTS AN ALTERNATE PROCEDURE FOR THE REVIEW OF CLAIMS, THE PROCEDURES IN THIS
SECTION 7.4 SHALL APPLY.
THE ADMINISTRATOR SHALL, WITHIN NINETY (90) DAYS OF
THE RECEIPT OF A CLAIM, EITHER ALLOW OR DENY THE CLAIM IN WRITING.
A DENIAL OF
A CLAIM SHALL BE WRITTEN IN A MANNER CALCULATED TO BE UNDERSTOOD BY THE CLAIMANT
AND SHALL INCLUDE: (A) THE SPECIFIC REASON OR REASONS FOR THE DENIAL;
(B) SPECIFIC REFERENCES TO PERTINENT PLAN PROVISIONS ON WHICH THE DENIAL IS
BASED; (C) A DESCRIPTION OF ANY ADDITIONAL MATERIAL OR INFORMATION NECESSARY FOR
THE CLAIMANT TO PERFECT THE CLAIM AND AN EXPLANATION OF WHY SUCH MATERIAL OR
INFORMATION IS NECESSARY; AND (D) AN EXPLANATION OF THE PLAN'S CLAIM REVIEW
PROCEDURE.
A CLAIMANT WHOSE CLAIM IS DENIED (OR HIS OR HER DULY AUTHORIZED
REPRESENTATIVE) MAY, WITHIN SIXTY (60) DAYS AFTER RECEIPT OF DENIAL OF THE
CLAIM: (1) SUBMIT A WRITTEN REQUEST FOR REVIEW TO THE COMMITTEE; (2) REVIEW
PERTINENT DOCUMENTS; AND (3) SUBMIT ISSUES AND COMMENTS IN WRITING.
THE
ADMINISTRATOR SHALL NOTIFY THE CLAIMANT OF THE DECISION OF THE COMMITTEE ON
REVIEW WITHIN SIXTY (60) DAYS OF RECEIPT OF A REQUEST.
NO LEGAL ACTION MAY BE
COMMENCED BY A PARTICIPANT OR BENEFICIARY WITH RESPECT TO A BENEFIT UNDER THIS
PLAN WITHOUT FIRST EXHAUSTING THE PLAN'S ADMINISTRATIVE CLAIMS PROCEDURES, AND
ANY LEGAL ACTION WITH RESPECT TO A CLAIM THAT HAS BEEN FINALLY DENIED MUST BE
COMMENCED NO LATER