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Your
Rights under ERISA
Some
of Boston University’s benefit plans are subject to the provisions
of the Employee Retirement Income Security Act of 1974 (ERISA).
ERISA provides participants in these plans with certain rights.
Boston
University Plans Subject to ERISA
The
following Boston University benefit plans are subject to the
provisions of ERISA:
Provisions
of ERISA
ERISA
provides the participants in these plans with certain rights.
The following statement is included here, so that you will
be aware of your rights under the law. Under ERISA:
- You
may examine, without charge, at the plan administrator’s
office, during normal business hours, all plan documents
relating to the plans in which you participate. The documents
that must be available for your review include insurance
contracts, plan and trust documents, collective bargaining
agreements, and all documents filed with the U.S. Department
of Labor, for example, detailed annual reports.
- If
you wish, you may request your own copies of these plan
documents by writing to the plan administrator. You may
have to pay a reasonable charge to cover the costs of copying
and postage.
- You
will receive summaries of the plans’ annual financial reports
each year, free of charge. The plan administrator is required
by law to furnish each participant with a copy of these
summary annual reports.
- You
may request a statement of your vested benefits under the
Boston University Retirement Plan and the Supplemental Retirement
and Savings Plan. This statement will be given to you free
of charge and may be requested once each year.
- You
have a right to receive a copy of any material change to
a plan within 210 days of the plan year in which the change
is adopted.
Besides
giving you certain rights as a participant, ERISA places certain
duties upon the people who are responsible for the management
of the above-mentioned plans. These people are called "fiduciaries"
under the law, and they have the duty to act prudently and
in your best interests.
Under
ERISA, no one may fire you or discriminate against you to
prevent you from obtaining your benefit rights.
If
your claim for a benefit is denied, in whole or in part, you
must receive a written explanation of the reason for the denial.
You have the right to have the University review and reconsider
your claim.
Under
ERISA, there are steps you can take to enforce your rights.
For instance, if you request materials from the plan and do
not receive them within thirty days, you may file suit in
a federal court. In such case, the court may require the plan
administrator to provide the materials and pay you up to $110
for each day’s delay until you receive the materials, unless
the materials were not sent for reasons beyond the administrator’s
control. If it should happen that plan fiduciaries misuse
plan money, or if you are discriminated against for asserting
your rights, you may seek assistance from the US Department
of Labor or file suit in a federal court.
In
a lawsuit, the court normally decides who pays the court costs
and legal fees. If you are successful, the other party might
have to pay. But, if you lose, the court might order you to
pay these costs and fees, especially if the court finds your
claim to be frivolous.
If
you have any questions about this statement of your rights
under ERISA, contact the Benefits Section of the Office of Human Resources or the nearest
area office of the Pension and Welfare Benefits Administration,
US Department of Labor, listed in your telephone directory,
or the Division of Technical Assistance and Inquiries, Pension
and Welfare Benefits Administration, US Department of Labor,
200 Constitution Avenue, N.W., Washington, D.C. 20210.
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