ERISA information
Summary Annual Reports may be found below for
the following retirement and welfare benefit plans
offered by Princeton University: Group Life
Insurance Program -- Regular, Group Life Insurance
Program -- Supplemental, Health Care Plan, Total
Disability Insurance Program, Vision Care Plan and
the Retirement Annuity Program for Monthly
Employees. The language and format for the Summary
Annual Reports are mandated by US Department of
Labor regulations.
Group Life Insurance Program -- Regular
This is a summary of the annual report of the
Group Life Insurance Program -- Regular, Employer
Identification Number 21-0634501, Plan No. 601, for
the period January 1, 1998 through December 31,
1998. The annual report has been filed with the
Internal Revenue Service, as required under the
Employee Retirement Income Security Act of 1974
(ERISA).
Insurance Information. The plan has a
contract with Aetna Life Insurance Company to pay
all death and accidental death and dismemberment
claims incurred under the terms of the plan. The
total premiums paid for the plan year ending
December 31, 1998 were $1,559,053. Because it is a
so-called "experience-rated" contract, the premium
costs are affected by, among other things, the
number and size of claims. Of the total insurance
premiums paid for the plan year ending December 31,
1998, the premiums paid under such experience-rated
contract were $783,016 and the total of all benefit
claims paid under the experience-rated contract
during the plan year was $725,549.
Group Life Insurance Program --
Supplemental
This is a summary of the annual report of the
Group Life Insurance Program -- Supplemental,
Employer Identification Number 21-0634501, Plan No.
602, for the period January 1, 1998 through
December 31, 1998. The annual report has been filed
with the Internal Revenue Service, as required
under the Employee Retirement Income Security Act
of 1974 (ERISA).
Insurance Information. The plan has a
contract with Aetna Life Insurance Company to pay
all death claims incurred under the terms of the
plan. The total premiums paid for the plan year
ending December 31, 1998 were $776,037.
Health Care Plan
This is a summary of the annual report of the
Health Care Plan, Employer Identification Number
21-0634501, Plan No. 603, for the period January 1,
1998 through December 31, 1998. The annual report
has been filed with the Internal Revenue Service,
as required under the Employee Retirement Income
Security Act of 1974 (ERISA).
Princeton University has committed itself to pay
all hospital/medical/surgical claims incurred under
the terms of the Health Care Plan.
Insurance Information. The plan has
contracts with Aetna US Healthcare -- HMO NJ, Aetna
US Healthcare, HMO-PA, HMO Blue (Blue Cross and
Blue Shield of New Jersey) and HIP Health Plan of
New Jersey to pay all claims incurred under the
terms of the plan. The total premiums paid for the
plan year ending December 31, 1998 were
$2,373,346.
Vision Care Plan
This is a summary of the annual report of the
Vision Care Plan, Employer Identification Number
21-0634501, Plan No. 607, for the period January 1,
1998 through December 31, 1998. The annual report
has been filed with the Internal Revenue Service,
as required under the Employee Retirement Income
Security Act of 1974 (ERISA).
Insurance Information. The plan has a
contract with Vision Service Plan to pay claims
incurred under the terms of the plan. The total
premiums paid for the plan year ending December 31,
1998 were $130,478.
Because it is a so-called "experience-rated"
contract, the premium costs are affected by, among
other things, the number and size of claims. Of the
total insurance premiums paid for the plan year
ending December 31, 1998, the premiums paid under
such experience-rated contract were $130,478 and
the total of all benefit claims paid under the
experience-rated contract during the plan year was
$92,115.
Total Disability Insurance Program
This is a summary of the annual report of the
Total Disability Insurance Program, Employer
Identification Number 21-0634501, Plan No. 505, for
the period January 1, 1998 through December 31,
1998. The annual report has been filed with the
Internal Revenue Service, as required under the
Employee Retirement Income Security Act of 1974
(ERISA).
Insurance Information. The plan has a
contract with UNUM Life Insurance Company of
America to pay claims incurred under the terms of
the plan. The total premiums paid for the plan year
ending December 31, 1998 were $989,863.
Retirement Annuity Program for Monthly
Employees
This is a summary of the annual report for the
Retirement Annuity Program for Monthly Employees,
Employer Identification Number 21-0634501, Plan No.
001, for the period January 1, 1998 through
December 31, 1998. The annual report has been filed
with the Internal Revenue Service, as required
under the Employee Retirement Income Security Act
of 1974 (ERISA).
Basic Financial Statement. Benefits under
the plan are provided by individually owned, fully
vested annuity contracts issued by the Teachers
Insurance and Annuity Association and College
Retirement Equities Fund. The plan was frozen as of
December 31, 1993, and no additional contributions
have been made.
Your rights to additional information
You have the right to receive a copy of the full
annual report, or any part thereof, on request. The
following item is included in the Group Life
Insurance Program -- Regular, Group Life Insurance
Program -- Supplemental, Health Care Plan, the
Total Disability Insurance Program and the Vision
Care Plan: insurance information.
To obtain a copy of the full annual report, or
any part thereof, write or call Andrea Baxter,
Benefits Admini-strator, Office of Human Resources,
Clio Hall Princeton University, Princeton NJ
08544-5264, (609) 258-2606.
You also have the right to receive from the plan
administrator, on request and at no charge, a
statement of the assets and liabilities of the plan
and accom-panying notes, or a statement of income
and expenses of the plan and accompanying notes, or
both. If you request a copy of the full annual
report from the plan administrator, these two
statements and accompanying notes will be included
as part of that report.
You also have the legally protected right to
examine the annual report at the main office of the
plan, Office of Human Resources, Clio Hall
Princeton University, Princeton NJ 08544-5264 and
at the US Department of Labor in Washington, D.C.,
or to obtain a copy from the US Department of Labor
upon payment of copying costs. Requests should be
addressed to:
Public Disclosure Room, N-5638
Pension and Welfare Benefits Administration
US Department of Labor
200 Constitution Ave NW
Washington DC 20210
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