Common use of Erisa Provision Clause in Contracts

Erisa Provision. The following provisions are part of this Agreement and are intended to meet the requirements of the Employee Retirement Income Security Act of 1974 ("ERISA"): a. The named fiduciary: the Corporation. b. The funding policy under this Plan is that all premiums on the Policy be remitted to the Insurer when due. c. Direct payment by the Insurer is the basis of payment of benefits under this Plan, with those benefits in turn being based on the payment of premiums as provided in the Plan. d. For claims procedure purposes, the "Claims Manager" shall be the Treasurer and the Director of Compensation of the Corporation; provided, however, that if a claim made under the Plan affects any of these persons, such person shall not participate in the review of the claim. i. If for any reason a claim for benefits under this Plan is denied by the Corporation, the Claims Manager shall deliver to the claimant a written explanation setting forth the specific reasons for the denial, pertinent references to the Plan section on which the denial is based, such other data as may be pertinent and information on the procedures to be followed by the claimant in obtaining a review of his claim, all written in a manner calculated to be understood by the claimant. For this purpose: (a) The claimant's claim shall be deemed filed when presented in writing to the Claims Manager. (b) The Claims Manager's explanation shall be in writing delivered to the claimant within ninety (90) days of the date the claim is filed.