SIP Summary Plan Description - Vought Aircraft Division
SIP Summary Plan Description - Vought Aircraft Division
SIP Summary Plan Description - Vought Aircraft Division
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<strong>Vought</strong> <strong>Aircraft</strong> Industries, Inc.<br />
Attn: Benefits Dept.<br />
Mail Stop 49L-01<br />
P.O. Box 655907<br />
Dallas, TX 75265-5907<br />
If you appeal, your appeal to the Committee will be reviewed at the next regularly scheduled<br />
quarterly Committee meeting (unless the appeal is received within 30 days preceding the date of<br />
such meeting; in that case, a decision will be made no later than the date of the second meeting<br />
following the Committee‘s receipt of the appeal). If special circumstances require a further<br />
extension of time, a decision shall be made not later than the third meeting following the<br />
Committee‘s receipt of your appeal. (If such an extension of time is required, the Committee<br />
shall provide you with written notice of the extension, describing the special circumstances and<br />
the date as of which the decision will be made, prior to the commencement of the extension.)<br />
The Committee shall notify you of the decision as soon as possible, but not later than five days<br />
after the decision is made.<br />
If the Committee denies your appeal, the letter will tell you the specific reasons for the decision<br />
and the <strong>Plan</strong> provisions upon which the decision was based, and will note that, upon request, you<br />
will have reasonable access to and copies of all documents, records and other information<br />
relevant to your claim, free of charge, and that you have a right to bring a civil action under<br />
section 502(a) of ERISA before the later of: 90 days after the final disposition of the claim by the<br />
committee; or, one year from the time the claim arose.<br />
The resolution, settlement, or adjudication of a claim may result in a compliance procedure that<br />
is not expressly permitted under some other section of the <strong>Plan</strong> document. Such a procedure,<br />
agreement or order will be respected to the extent that, as determined in the sole discretion of the<br />
Committee, it does not result in disqualification of the <strong>Plan</strong> or violate (or cause the <strong>Plan</strong> to<br />
violate) any applicable statute, government regulation, or ruling.<br />
You may have an authorized representative act on your behalf in making your appeal. The<br />
decision of the Committee on your appeal is made in its discretion and is final and binding on all<br />
parties.<br />
No legal action may be brought in court on a claim for benefits under the <strong>Plan</strong> following the later<br />
of the one year anniversary of the date the claim arose or the 90 th day following the final<br />
disposition of the claim by the Committee.<br />
Administration<br />
The Administrative Committee appointed by the Company’s Board of Directors has the authority<br />
to administer the <strong>Plan</strong>. The Committee is responsible for overall operation and administration of<br />
the <strong>Plan</strong>. The members of the Committee do not receive any payment from the <strong>Plan</strong> for their<br />
services. The Investment Committee, also appointed by the Board of Directors, has responsibility<br />
for investment matters.<br />
<strong>Plan</strong> Amendment and Termination<br />
The Company reserves the right to amend the <strong>Plan</strong> at any time, for any reason. While the<br />
Company fully intends to continue this <strong>Plan</strong> indefinitely, the Company may, at its discretion,<br />
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