Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

REGENTS’ POLICY MANUALSECTION 3—GENERAL POLICIESBENEFITS:Those Eligible Retirees who elect to return to employment with the University will be provided theoption to (i) be eligible for those benefits which are provided to other similarly situated or classifiedemployees of the University and such benefits will be determined in accordance with the terms of theapplicable benefit plans, programs and arrangements, or (ii) continue the Benefits under this policy andwill not be eligible for the benefits described in (i) above. This election by the Eligible Retiree isirrevocable and must be made in writing prior to commencement of reemployment with the University.IX. AMENDMENTS AND TERMINATIONSThe University reserves the right to amend, modify, or terminate this policy at any time; any suchamendment and modification may affect Benefits which have been earned or will be earned in the future.Any Eligible Employee who elects to receive the Benefits or who is covered by this policy agrees that asa condition for such participation, the University shall at all times retain such right to amend, modify, orterminate this Policy.X. STANDARD OF REVIEWThe Policy Administrator (or such other party to whom duties of administration have been delegatedby the Board of Regents) shall perform its duties of administration as it determines in its sole discretion isappropriate in light of the reason and purpose for which the policy is established and maintained. Inparticular, the interpretation of all policy provisions and the determination of whether an EligibleEmployee is entitled to any benefit pursuant to the terms of the policy shall be exercised by the PolicyAdministrator (or other party referred to above) in its sole discretion. Any construction of the terms ofthe policy for which there is a rational basis that is adopted by the Policy Administrator (or other partyreferred to above) in good faith shall be final and legally binding on all parties.CLAIMS AND REVIEW PROCEDURESIf a Claim is Denied.If for any reason a claim for benefits is denied, normally within 90 days, the Eligible Employee willreceive a written notice containing:• The reason(s) why the claim, or a portion of it, was denied;• Reference to policy provisions on which the denial was based;• What additional information, if any, is required to process the claim and why theinformation is necessary; and• What steps may be taken if the Eligible Employee wants to appeal the decision.In many cases, disagreement about benefit eligibility or amounts can be handled informally by callingthe University’s Benefits Office. If a disagreement is not resolved, there is a formal procedure theEligible Employee can follow to have his/her claim reconsidered.THE UNIVERSITY OF OKLAHOMA 206