Other than the Overview and Page Directory displayed below, he text presented in this web page is directly from the booklet provided by Life Insurance Company of North America, which describes the major provisions of the Group Life and AD&D Insurance Policy issued to American Bank. It has been edited only insofar as necessary for it to be viewed on this website.
Life Insurance Overview
If you are covered under the group term life insurance policy and are under 65 at the time of your death, your beneficiary will receive a benefit equal to two times your annual salary, up to a maximum of $450,000. If your death is due to an accident, your beneficiary will also receive the same amount from the Accidental Death and Dismemberment (AD&D) coverage. AD&D will also provide a benefit to you if you lose an eye, arm, or leg because of an accident.
In addition, your plan allows you to convert the group coverage into a personal life insurance policy after you are no longer employed at American Bank.
If you are diagnosed with a terminal illness, you may apply to the Insurance Company to pay 50% of your death benefit (up to $50,000) to you directly before you die, with a reduction in the amount which your beneficiary will receive upon your death.
Page Directory
When does coverage begin and end?
May I convert this group policy to a personal policy?
Who is eligible for this Plan?
What is the amount of Death Benefit?
What is the amount of Accidental Death & Dismemberment Benefit?
What is the reduction of coverage if I am over 65?
How do I file a claim?
What if I have not named a beneficiary?
What is the Terminal Illness Benefit?
Summary Plan Description, as required by the Employee Retirement Income Security Act (ERISA)
Group Term Life Insurance Benefits
Life Insurance Company Of North America
1601 Chestnut Street, Philadelphia, Pa 19192
A Stock Insurance Company
We, the Life Insurance Company of North America, have issued a Group Insurance Policy to American National Bank of Florida under Group Policy Number, GL 17865.
We certify that we insure all eligible persons, who are enrolled according to the terms of the master policy. Your coverage will begin according to the terms set forth under " Individual Insurance."
This certificate describes the benefits and basic provisions of your coverage. You should read it with care so you will understand your coverage. This is not the insurance contract. The master policy is the only contract under which benefits are paid. You may examine it at the office of the Policyholder or the administrator.
This certificate replaces any and all certificates which may have been issued to you in the past under the Group Policy.
As used in this certificate, "he" and his includes "she" and "her."
LIFE INSURANCE COMPANY OF NORTH AMERICA
JOHN K. LEONARD, President
INDIVIDUAL INSURANCE
Effective Date Your coverage will begin on the latest of the following
dates:
a) The policy effective date.
b) The date that you joined an eligible class.
c) If you were required to enroll for your coverage, on the effective date shown in your enrollment form.
If you were absent from work, because of injury or sickness, on the date your coverage would begin, your coverage will not begin until you have returned full time to the duties of your work.
Termination Your coverage will end when any of these things happen:
1. On the date the group policy is terminated.
2. On the date that you are no longer in an eligible class.
3. On the date that you are no longer actively employed.
This does not apply if you are:
a. disabled;
b. on a leave of absence not to exceed six months
or
c. on a temporary layoff from employment, not to
exceed three months;
d. in a class of eligible retired employees, provided
this policy includes such a class.
4. At the end of the period for which contribution has been
made, if you fail to make a contribution required by the
policy.
5. On the next premium due date on or after you reach the
maximum age shown under ELIGIBILITY DATES.
6. If the policy is issued to an employer association, or a
multiple employer trust fund, on the next premium due
date when your employer no longer participates in the
insurance plan.
Termination will not affect a claim which begins while coverage is in force.
Continuation of Insurance During Retirement Option If the Policyholder has elected this option, a retired employee's coverage will continue even though he is no longer actively employed. This coverage will be subject to all other terms of the policy.
CONVERSION PRIVILEGE
If your coverage ends, for any reason except not paying premiums, then you may have us issue you a policy of individual life insurance.
You may choose any type of life insurance that we issue to persons of your age in the amount applied for, except:
1. You may not choose term insurance.
2. You may not apply for an amount greater than your coverage under this policy.
3. The policy will not contain disability or other extra benefits.
If the group policy is terminated, you may not convert unless you have been covered for at least 3 years. In this case, you may not apply for more than $10,000 of insurance.
To get such a policy, you must:
- apply within 31 days after your coverage under this policy ends; and
- pay the required premium, based on our table of rates for such policies, your age and class of risk.
You need not show us that you are insurable.
The policy will take effect at the end of this 31 day conversion period. If you die during this period, then we will pay, as a claim on this policy, the amount of life insurance that you could convert. It does not matter whether you applied for a converted policy. If such policy is issued, it will be in exchange for any further benefits from this policy.
GROUP INSURANCE CERTIFICATE
Policyholder: AMERICAN NATIONAL BANK OF FLORIDA
Policy Number: GL17865
ELIGIBLE CLASSES
Eligible Persons No Eligible Person may be covered more than once under this Policy. If you are covered as an Employee, you cannot be covered as a spouse or dependent child of another Employee, even though you may be eligible under more than one class. The classes of persons listed below may be covered by this Policy:
CLASS 1 - All active fulltime employees of the Policyholder.
An employee who works the number of hours in the normal work week established by the Policyholder, but not less than 32 hours per week shall be considered a fulltime employee of the Policyholder.
Eligibility Dates An employee may enroll for coverage as follows:
1. Immediately if he is in an eligible class on the effective date of the policy.
2. Upon completion of 90 days of continuous employment if the employee entered an eligible class after the policy effective date.
Maximum Age: N/A
Contributions: Contributions for your coverage are not required.
SCHEDULE OF BENEFITS
LIFE INSURANCE AND ACCIDENTAL DEATH AND DISMEMBERMENT
BENEFITS
Classification of Employees: All Covered Employees
Class 1 Amount of Life Insurance*:
An amount equal to two times the employee's Basic Annual Earnings**, rounded to the nearest $1,000, if not already a multiple thereof, but not more than $45O,000.
Principal Sum of Accidental Death and Dismemberment*:
The Principal Sum applicable to an employee shall, at any time, be equal to his amount of Life Insurance under the Policy.
*The amounts of Life and Accidental Death and Dismemberment Insurance indicated above apply to each Insured under age 65. The following reduction schedule shall apply on the earlier of:
1) the date he becomes insured if he is then age 65 or over; or
2) his 65th birthday.
At age 65: amount reduces to 65% of the original amount
At age 70: amount reduces to 45% of the original amount
At age 75: amount reduces to 30% of the original amount
At age 80: amount reduces to 20% of the original amount
** Changes in amounts of insurance due to a change in an employee's classification and earnings shall be effective on the date of the change. However, if the employee is not actively at work on the date the amounts of insurance would otherwise increase, the effective date of any increase will be deferred until the day he returns to work.
LIFE INSURANCE BENEFIT
If you die while you are covered by the policy, we will pay the life insurance benefit shown in the Schedule of Benefits above. We will pay this amount as soon as we receive due proof of your death. This benefit is subject to all of the terms of the Master Policy.
BENEFICIARY
Benefits paid on account of your death will be paid to the beneficiary you have chosen. These terms are set forth in detail under Employee's Death Benefits.
PAYMENT OF CLAIMS
Accident/Disability Benefits: Notice of Claim If any covered loss occurs or begins, you must send us written notice within 30 days, or as soon as reasonably possible. The notice should state the policy number and your name. This notice should be sent to our home office, in Philadelphia, PA, or to an agent authorized by us. We will then send you claim forms.
Accident/Disability Benefits: Proof Of Loss The claim forms must be sent back to us no more than 90 days after a covered loss occurs or ends, or as soon after that as is reasonably possible. If we have not provided claim forms within 15 days after your notice of claim, send us other proof of loss by the date claim forms are due. This proof of loss should include written proof of the occurrence, type and amount of loss.
Accident/Disability Benefits: When Paid Claims will be paid as soon as we receive due proof of loss. If a claim covers benefits for more than a month, we will pay all amounts due at the end of each month. If there are any benefits due at the end of the period claimed, we will pay them as soon as we receive due proof of loss.
Payment Of Claims: Employee's Death Benefits Benefits paid on account of your death will be paid to the beneficiary you have chosen. This choice must be in writing and filed with the Policyholder or at our home office. You may change the beneficiary by sending us written notice. You do not need the beneficiary's consent.
No selection or change of beneficiary will take effect unless it has been duly filed; but if it so filed it will take effect on the date you signed it, even if you die before it is filed. Any payment we make before it is filed fulfills our duty to pay that amount.
If a beneficiary dies before you, his interest will end; his share will be paid in equal shares to the other beneficiaries, if there are any. This does not apply if other arrangements have been made.
If you have not chosen a beneficiary, or if there is no beneficiary alive when you die, we will pay benefits:
1. to your spouse, if living.
2. If not, in equal shares to your living children.
3. If there are none, in equal shares to your living parents.
4. If there are none, in equal shares to your living brothers
and sisters.
5. If there are none, to your estate.
If a beneficiary is a minor, or can not give a valid release, we will pay:
1. his duly appointed guardian or committee, if payment is
requested. If not, we may pay a person or institution who we think
has assumed the custody and chief support of the
beneficiary. In that case, we will pay $100.00 at first and
$50.00 per month after that. Payment to any such person
fulfills our duty to pay that amount; we are not
responsible for how the money is used.
Optional Modes Of Settlement Instead of a lump sum payment, you (while living) or the beneficiary (after your death) may choose installment payments from one of the settlement options we are then offering. You may at any time before your death revoke or change your choice. Any such choice must be in writing.
Payment Of Claims: Other Benefits All other benefits will be paid to you, if you are living. Otherwise we will pay your estate. In that case we may pay up to $ 1,000 to a relative by blood or marriage who we in good faith believe is entitled to it.
WAIVER OF PREMIUM BENEFIT
We will not require any further life insurance Premium to be paid for you:
1. after you have given us proof that you are disabled, and
2. after you have been disabled for 9 straight months; and c) if you became disabled before your 60th birthday.
You will be deemed "disabled" as used here, only if you can not do any work for wage or profit.
You must give us proof that you are disabled not more than 12 months after you became disabled, and every 12 months after that. If you die before such proof has been given, we will still pay the life insurance benefit, as long as such proof is given not more than 12 months after you became disabled. We may have you examined as often as reasonably necessary while you are disabled, but not more than once a year after two years.
You will still be covered for the life insurance benefit. No charge will be made for your premium. If the group policy provides other benefits, you will not be covered for them while your premium is waived. The benefit will be the lesser of:
1. the amount you were covered for when you become disabled; and
2. the amount you would be covered for if you were not disabled.
We will only pay this benefit if written notice of claim is sent to our home office not more than 12 months after your death. Except for the above, all other terms of the policy will apply.
This coverage will end when any of these things happen:
1. 31 days after you are no longer disabled, if premium
payments are not resumed.
2. 31 days after you are no longer eligible, for any reason
other than being disabled.
3. 31 days after you refuse to be examined or fail to provide
proof that you are disabled, as required above.
During this 31 days period, you may apply for an individual life insurance policy. These terms are set forth in detail under Conversion Privilege.
ACCIDENTAL DEATH AND DISMEMBERMENT BENEFIT
We will pay benefits for injuries:
1. caused by an accident which happens while you are covered by the policy; and
2. which directly, and from no other cause, result in any of the losses listed below, within a year of the accident.
Only one benefit (the larger) shall be paid for more than one loss resulting from any one accident.
The amount of this benefit is shown in the table below. The Principal Sum is shown in the Schedule of Benefits.
Loss ...........................................Benefit
of life ……………………….100% of the Principal Sum
of two or more members…….100% of the Principal Sum
of one member………………..50% of the Principal Sum
"Member" means hand, foot or eye. Loss of a hand or foot means complete severance through or above the wrist or ankle joint. Loss of an eye means the total, permanent loss of sight in the eye. (In South Carolina, loss of four whole fingers of one hand shall be deemed loss of a hand.)
Beneficiary Benefits for your death will be paid to your beneficiary. Other benefits will be paid to you. These terms are set forth in detail under Employee's Death Benefits.
Exclusions We will not pay benefits for injuries:
1. Caused by suicide, attempted suicide, or whenever you injure
yourself on purpose. (In Missouri only, this does not apply if you
were insane.)
2. Caused by war or acts of war, whether or not declared.
3. While you are on full time active duty in any armed forces. We
will refund pro rata the premium paid to cover you during a
period of such service.
4. Caused by any bacterial infection that was not caused by an accidental cut, wound, or food poisoning.
5. Caused by travel or flight in, or getting in or out of:
-- an aircraft being used for test or experiment.
-- an aircraft you are flying, are learning to fly, or are part
of the crew of.
-- a military aircraft, other than transport aircraft flown by
the U.S. Military Airlift Command (MAC), or a similar air
transport service of another country.
-- an aircraft owned or leased by or for the Policyholder, its
subsidiaries or affiliates, or you or a member of your
household.
-- an aircraft that does not have a valid FAA normal or
transport type certificate of airworthiness.
-- an aircraft that is not flown by a pilot with a valid
license.
6. Caused by your taking, on purpose, any drug which was not prescribed by a doctor.
We will not pay this benefit for loss caused by sickness.
AMENDATORY RIDER
This rider amends the certificate to which it is attached. It is in force only while the certificate is in force.
1. When either the ACCIDENTAL DEATH BENEFIT or the
ACCIDENTAL DEATH AND DISMEMBERMENT BENEFIT is used
in the certificate, the "Exclusions" section shall be changed by
deleting exclusions e)4) and f).
2. When the WEEKLY DISABILITY BENEFIT is used in the certificate, the "Exclusions" section shall be changed as follows:
a) items "d)" and "f)" shall be deleted;
b) item "e)" is deleted if normal pregnancy and childbirth are covered under the policy, and shown in the Schedule of Benefits page. Complications of pregnancy are covered as any other sickness;
- item "g)" is deleted, and the following shall take its place:
"g) injury or sickness for which you are entitled to benefits from any Workers' Compensation or occupational disease law."
Except for the above, this rider does not change the certificate in any way.
LIFE INSURANCE COMPANY OF NORTH AMERICA
JOHN K. LEONARD, President
AMENDATORY RIDER
(Florida)
This rider amends the Policy or Certificate to which it is attached. It is in force only while the Policy or Certificate is in force.
The Provision entitled "Legal Actions" is deleted in its entirety and replaced with the following:
LEGAL ACTIONS: No legal action may be brought to recover on the policy within 60 days after written proof of loss is given as required by the policy. No such action may be brought after the expiration of the applicable statue of limitations from the time written proof of loss is required to be given.
Except for the above, this rider does not change the policy in any way.
LIFE INSURANCE COMPANY OF NORTH AMERICA
JOHN K. LEONARD, President
STATUTORY RIDER
(Florida)
This rider amends the policy or certificate to which it is attached. It is in force only while the policy or certificate is in force.
The section below is added to the policy.
EXTENDED DEATH BENEFIT
If a covered employee is disabled on the date that the group policy is terminated, then his life insurance benefit will be extended until:
a) he is no longer disabled; or
b) he has been disabled for a total of 12 months.
A covered employee will be deemed "disabled" as used here, if he can not do any type of work for which he is fitted by reason of his education, experience, or training. He must send us proof that he is disabled not more than 12 months after he became disabled. We may have him examined as often as reasonably necessary while he is disabled.
The amount of his benefit will be the lesser of:
a) the amount for which he was covered when the policy was terminated; and
b) the amount for which he would be covered if the policy were still in force.
We will only pay this benefit if written notice of claim is sent to our home office not more than 12 months after his death.
Except for the above, this rider does not change the policy in any way.
LIFE INSURANCE COMPANY OF NORTH AMERICA
JOHN K. LEONARD, President
LIFE INSURANCE COMPANY OF NORTH AMERICA
AMENDATORY RIDER
Policyholder: American National Bank of Florida
Policy Number: GL 17865
This rider amends the Policy and Certificate to which it is attached. It is in force only while the Policy remains in force.
The Insurance Company specifies in this Rider the terms under which the Insurance Company insures the Employee for Accelerated Benefit Insurance. This Rider is subject to all terms of the Policy and Certificate, except those specifically changed in this Rider. Any benefits payable under this Rider will reduce the Insured's Coverage Amount under the policy a.
WHO IS ELIGIBLE An employee may be insured under the Terminal Benefit Insurance if:
a) he is eligible to be insured under the Group Policy; and
b) benefits were not previously payable for him under the Terminal Illness Benefit Insurance.
WHO IS INSURED
This rider will be in effect only for eligible employees in Active Service on the Effective Date shown above. If an Employee is not in Active Service on the date he would otherwise become eligible, he will become eligible on the date he returns to Active Service provided any required Waiting Period has been satisfied.
TERMINAL ILLNESS BENEFIT
The Insurance Company will pay a Terminal Illness Benefit to an Employee who has been determined by the Insurance Company to be Terminally Ill.
The Terminal Illness Benefit will be equal to 50% of the Coverage Amount in force for the Employee on the date he is determined by the Insurance Company to be Terminally Ill, subject to a Maximum Benefit Amount of $50,000.
Any benefits payable under this Terminal Illness Benefits provision will reduce the Death Benefit payable for life insurance. Any automatic increases in Coverage Amount under the policy will terminate when Benefits are paid or payable under this Terminal Illness Benefit provision.
The Employee's monthly premium will be calculated on the amount of death benefits payable before any reductions due to benefits payable under this Accelerated Benefits provision.
The Terminal Illness Benefit is payable once in an Employee's lifetime.
Benefit Determination Date
The term Benefit Determination Date means the date the Insurance Company determines that an Employee is terminally ill.
Determination of Terminal Illness
For the purpose of determining the existence of a Terminal Illness, the Insurance Company will require that the Employee submit the following:
a) a written diagnosis and prognosis by two Physicians licensed to practice in that jurisdiction; and
supportive evidence satisfactory to the Insurance Company, including but not limited to radiological, or laboratory reports documenting the Terminal Illness.
The Insurance Company may require, at its own expense, an examination of the Employee and a review of the documented evidence by a Physician of its choice.
DEFINITIONS
Physician
The term Physician means a licensed medical practitioner who is practicing within the scope of his license and who is licensed to Prescribe and administer drugs or to perform surgery.
Terminal Illness
A Terminal Illness will be considered to exist if a person has a prognosis of twelve months or less to live, as diagnosed by a Physician.
EFFECT OF BENEFITS PAYABLE UNDER THIS RIDER
Any benefits payable under the Terminal Illness BENEFIT will reduce an Employee's Coverage Amount under the Certificate by the amount of such Benefits. However, FOR the purpose of determining the Supplemental Accidental Death and Dismemberment Benefits, any reduction of an Insured's Coverage Amount as a result of any benefits payable under this Rider will be disregarded.
MISCELLANEOUS PROVISIONS
Notice of Claim
Written notice of a diagnosis of Terminal Illness on which claim is based must be given to the Insurance Company within 60 days after the start of the confinement or the diagnosis. If notice is not given in that time, the claim will not be invalidated or reduced if it is shown that written notice was given as soon as was reasonably possible.
Claim Forms
When the Insurance Company receives the notice of claim, it will give to the claimant the claim forms which it uses for filing proof of claim. If the claimant does not get these claim forms within 15 days after the Insurance Company receives notice of claim, he will be considered to meet the proof of claim requirements of the policy if he submits written proof of claim within 90 days after the date of confinement or diagnosis. This proof must describe the occurrence, character and extent of confinement or diagnosis for which claim is made.
Examination
The Insurance Company, at its own expense, will have the right to examine any person for whom claim is pending as often as it may reasonably require.
Legal Action
No action at law or equity will be brought to recover on the insurance under this Rider until at least 60 days after notice of claim has been filed with the Insurance Company. No such action will be brought at all unless brought within 3 years after the time within notice of claim is required.
Payment of Benefits
All BENEFITS under this Rider are payable to you unless you have assigned the right to payment for these Benefits.
TERMINATION OF INSURANCE UNDER RIDER
The insurance under this Rider for Employee's will cease on the earliest of the following dates:
- the date the Employee insurance under the CERTIFICATE
ceases;
- the date the Lifetime Maximum BENEFIT becomes payable
to an Employee
- the date the Terminal Illness BENEFIT becomes payable to
an Employee; or
- the date this Rider is canceled.
- the date the Group Policy is terminated.
CONVERSION PRIVILEGE
If an employee's life insurance ends, for any reason except not paying premiums, then he may have us issue him a policy of individual life insurance, for amounts not greater than his coverage under this policy, less any benefits payable under the Accelerated Benefits Provision. All other provisions for the conversion benefit are as stated in the policy and certificate.
SUPPLEMENTAL INFORMATION
for
GROUP LIFE PLAN & GROUP ACCIDENTAL DEATH PLAN
Required by the Employee Retirement
Income Security Act of 1974
The following information together with the information contained in this booklet constitutes the Summary Plan Description required by the Employee Retirement Income Security Act of 1974.
The PLAN is established and maintained by:
American National Bank of Florida
The Employer Identification Number (KIN) is: 5900458709
The Plan Number is: 502
a. This Group Life, Group Accidental Death Insurance Plan is administered directly by the Plan Administrator with benefits provided
b. in accordance with the provisions of the group insurance contract, GL 17865
c.
issued by Life Insurance Company Of North America.
The Plan Administrator is:
American National Bank of Florida
All plan administration is done at:
2031 Hendricks Ave.
Jacksonville, Fl 32207
The Plan Administrator has authority to control and manage the operation and administration of the plan.
The agent for SERVICE of legal process is: The Plan Administrator. Service of legal process may also be made upon the Plan Administrator or any plan trustee.
This plan of benefits financed by: The Employer. Date of the end of the Plan Year: May 31
For a description of the eligibility requirements of the plan, the amount and type of benefits available, the circumstances under which benefits under the plan are not available or may terminate, please refer to the Plan booklet, which is available from the Plan Administrator.
Plan Termination: The right is reserved in the plan for the Plan Administrator to terminate, suspend, withdraw or amend the plan in whole or in part at any time, subject to the applicable provisions of the Group Insurance Policy. Your rights upon termination or amendment of the plan are set forth in your Certificate of Insurance.
CLAIM PROCEDURES
Filing a Claim for Benefits
When you are reasonably sure that you are eligible to receive benefits under this plan, you may request a claim form from your Plan Administrator. All claims submitted to the Insurer must be on forms provided by the Insurer (unless forms are not currently available), in which case you may simply supply the appropriate party with a written statement outlining proof and extent of loss.
Complete the claim form according to directions and return the claim form to your Plan Administrator.
From the date your notice of claim is returned, the insurance company has 90 days in which to review the claim to determine whether or not benefits are payable in accordance with the terms and provisions of the Group Policy. Under special circumstances the insurance company may require an extension of this 90 day period in which case you will receive written notice from the insurance company, prior to the end of the initial 90 days, informing you of the need for an extension. This extension period allows the insurance company an additional 90 days to review your claim. During this period the insurance company may require a medical examination, at its own expense, or additional information in order to make a determination on your claim. If additional information is required you will receive a request, in writing, specifying the nature of the information needed and an explanation as to why it is needed. If a medical examination is necessary you will be given the time of appointment and the doctor's name and location. It is important to keep any appointments made since rescheduling exams will delay the claim process.
If you are not notified of the claim status within 90 days and you have been notified that the extension period has been applied, you may request a review of your claim by following the procedure outlined under "Claim Review Procedure. Once your claim has been approved, you will receive the appropriate benefit from the Insurance Company.
What if your Benefits are denied?
If your claim for benefits is denied in whole or part, you will receive written notice of such denial within the 90 day period stated above (or 180 days if the extension period is required).
Each written notice of denial shall set forth:
1) the specific reason(s) for the denial of the claim
2) a specific reference to the provision(s) of the Group Policy upon which the denial is based; and
3) notice of your right to have the denial reviewed by the Insurance Company.
Claim Review Procedure
If you receive a written notice of denial, you or your duly authorized representative may request a review of the claim by giving written notice to the Insurance Company. This request for a review must be made to the Plan Administrator within 60 days of the receipt of denial by the insurance company. If such request is not made within 60 days you will be deemed to have waived your right to a review by the Insurance Company.
Upon completion of a full and complete review, the Insurance Company will notify you in writing of the results, citing plan provisions that control the decision. The Insurance Company has 60 days to notify you of its decision unless special circumstances require an extension of time.
If an extension is required, the Insurance Company shall notify you of the need for an extension before the end of the initial 60 day period for completing the review procedure. This means that the Insurance Company will have an additional 60 days to notify you of the decision on your denied claim.
Statement of ERISA Rights
As a participant in the Group Life, Group Accidental Death Insurance Plan, you are entitled to certain rights and protection under the Employee Retirement Income Security Act of 1974. All plan participants are entitled to:
a. Examine, without charge, at the Plan Administrator's office, or the local Business Office all plan documents including insurance contracts, collective bargaining agreements and copies of all documents f led by the plan with the U.S. Department of Labor such as annual reports and plan descriptions.
b. Obtain copies of all plan documents and other plan information upon written request to the Plan Administrator who may make a reasonable charge for the copies.
c. Receive a summary of the plan's annual financial report which the law requires the Plan Administrator of certain plans to provide to each plan participant.
(Unless there are reasons beyond the control of the Plan Administrator, materials that you request should be received within 30 days. If they are not, you may file suit in a federal court. The court may require the Plan Administrator to pay up to $100 for each day's delay until the materials are received.
d. Receive a written explanation of the reasons why your claim for benefits has been denied in whole or part and a review and reconsideration of your claim.
In addition to creating rights for plan participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan.
These people are called "fiduciaries", and they must act prudently and with the sole interests of you and other participants in mind.
No one, not even your employer, may fire you or discriminate against you in order to prevent you from obtaining a welfare benefit or exercising your rights under ERISA
If you are improperly denied a welfare benefit in whole or part, you may file suit in a federal or state court. If you believe plan fiduciaries are misusing plan funds, or if you are discriminated against for asserting your rights you may request assistance from the U.S. Department of Labor or you may file suit in a federal court. The court will decide who should pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees, but if you lose you may be required to pay the costs and fees; for example, if the court fads that your claim is frivolous.
If you have any questions about your plan contact your Plan Administrator. If you have any questions about this statement, or your rights under ERISA you should contact the nearest Area Office of the U.S. LaborManagement Services Administration, Department of Labor.
While ERISA requirements are established by federal law and regulation, American National Bank of Florida has always attempted to provide its employees with welfare plans that meet the same high standards imposed by the law. We are pleased that the law will enable better application of these standards.