Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34 Filing Table of Contents
Document/ExhibitDescriptionPagesSize
1: 10-K Annual Report HTML 2.68M
5: EX-10.11 Senior Executive Retirement Plan HTML 88K
6: EX-10.12 First Amendment to the Senior Executive Retirement HTML 45K
Plan
7: EX-10.15 Second Amended and Restated Employment Agreement HTML 149K
8: EX-10.31 Non-Qualified Defined Contribution Retirement Plan HTML 112K
2: EX-10.6 Supplemental Pension Plan HTML 83K
3: EX-10.7 First Amendment to the Supplemental Pension Plan HTML 44K
4: EX-10.8 Second Amendment to the Supplemental Pension Plan HTML 44K
10: EX-21 Subsidiaries of the Registrant HTML 47K
11: EX-23 Consent of Independent Registered Public HTML 49K
Accounting Firm
12: EX-24 Power of Attorney HTML 49K
9: EX-12 Statement Regarding Computation of Ratio of HTML 57K
Earnings to Fixed Charges
13: EX-31.1 Certification of Chief Executive Officer HTML 47K
14: EX-31.2 Certification of Chief Financial Officer HTML 47K
15: EX-32.1 Statement of Chief Executive Officer HTML 44K
16: EX-32.2 Statement of Chief Financial Officer HTML 44K
112: R1 Document and Entity Information HTML 71K
84: R2 Consolidated Balance Sheets HTML 157K
104: R3 Consolidated Balance Sheets (Parenthetical) HTML 56K
117: R4 Consolidated Statements of Income HTML 127K
147: R5 Consolidated Statements of Comprehensive Income HTML 69K
89: R6 Consolidated Statements of Comprehensive Income HTML 52K
(Parenthetical)
103: R7 Consolidated Statements of Stockholders' Equity HTML 71K
77: R8 Consolidated Statements of Stockholders' Equity HTML 43K
(Parenthetical)
62: R9 Consolidated Statements of Cash Flows HTML 136K
149: R10 Significant Accounting Policies HTML 122K
119: R11 Fair Values of Financial Instruments HTML 453K
118: R12 Investments HTML 526K
126: R13 Derivative Financial Instruments HTML 237K
127: R14 Accumulated Other Comprehensive Income HTML 127K
123: R15 Liability for Unpaid Claims HTML 120K
128: R16 Income Tax HTML 180K
105: R17 Debt HTML 88K
114: R18 Employee Benefit Plans HTML 649K
121: R19 Stockholders' Equity and Earnings Per Common Share HTML 106K
161: R20 Stock-Based Compensation HTML 141K
139: R21 Reinsurance HTML 67K
96: R22 Segment Information HTML 375K
120: R23 Commitments and Contingent Liabilities HTML 66K
100: R24 Statutory Financial Information HTML 77K
51: R25 Unaudited Quarterly Results HTML 101K
141: R26 Schedule I Summary of Investments HTML 97K
154: R27 Condensed Finacial Information of Registrant HTML 220K
71: R28 Schedule III Supplementary Insurance Information HTML 195K
70: R29 Schedule IV Reinsurance HTML 130K
75: R30 Schedule V Valuation and Qualifying Accounts HTML 101K
76: R31 Signficant Accounting Policies (Policies) HTML 300K
78: R32 Significant Accounting Policies (Tables) HTML 63K
35: R33 Fair Values of Financial Instruments (Tables) HTML 424K
137: R34 Investments (Tables) HTML 510K
93: R35 Derivative Financial Instruments (Tables) HTML 208K
97: R36 Accumulated Other Comprehensive Income (Tables) HTML 127K
56: R37 Liability for Unpaid Claims (Tables) HTML 109K
160: R38 Income Tax (Tables) HTML 170K
23: R39 Debt (Tables) HTML 69K
81: R40 Employee Benefit Plans (Tables) HTML 754K
145: R41 Stockholders' Equity and Earnings Per Common Share HTML 105K
Stockholders' Equity and Earnings Per Common Share
(Tables)
53: R42 Stock-Based Compensation (Tables) HTML 109K
69: R43 Reinsurance (Tables) HTML 59K
74: R44 Segment Information (Tables) HTML 372K
85: R45 Statutory Financial Information (Tables) HTML 72K
34: R46 Unaudited Quarterly Results (Tables) HTML 98K
61: R47 Schedule I Summary of Investments (Tables) HTML 91K
26: R48 Condensed Financial Information of Registrant HTML 209K
(Tables)
143: R49 Schedule III Supplmentary Insurance Information HTML 189K
(Tables)
52: R50 Schedule IV Reinsurance (Tables) HTML 129K
138: R51 Schedule V Valuation and Qualifying Accounts HTML 98K
(Tables)
57: R52 Significant Accounting Policies - Additional HTML 64K
Information (Detail)
82: R53 Carrying Amount and Fair Value of Financial HTML 92K
Instruments (Detail)
25: R54 Fair Value Measurements by Input Level (Detail) HTML 117K
31: R55 Transfers of Assets between Level 1 and Level 2 HTML 51K
(Detail)
73: R56 Changes in Assets and Liabilities Measured at Fair HTML 91K
Value on a Recurring Basis using Significant
Unobservable Inputs (Level 3) (Detail)
42: R57 Quantitative Information Regarding Significant HTML 104K
Unobservable Inputs (Details)
150: R58 Fair Value of Financial Instruments Additional HTML 63K
Information (Detail)
91: R59 Amortized Cost and Fair Values of Securities by HTML 69K
Security Type (Detail)
124: R60 Length of Time Fixed Maturity Securities had been HTML 68K
in a Gross Unrealized Loss Position (Detail)
60: R61 Distribution of the Maturity Dates for Fixed HTML 122K
Maturity Securities (Detail)
65: R62 Mortgage Loans by Property Type (Detail) HTML 52K
134: R63 Mortgage Loans by Geographic Region (Detail) HTML 59K
129: R64 Mortgage Loans, Sorted by Applicable Credit HTML 50K
Quality Indicators, Internal rating (Detail)
95: R65 Mortgage Loans, Sorted by Applicable Credit HTML 49K
Quality Indicators, Loan to Value Ratio (Detail)
132: R66 Activity in Allowance for Credit Losses (Detail) HTML 50K
58: R67 Impaired Mortgage Loans (Detail) HTML 49K
101: R68 Investments Mortgage Loan Restructuring (Detail) HTML 54K
153: R69 Investments Offsetting for Derivatives and HTML 159K
Securities Lending Balances (Details)
29: R70 Investments Investment Income (Detail) HTML 69K
50: R71 Realized Investment Gains and Losses Reported in HTML 76K
Consolidated Statements of Income (Detail)
83: R72 Investments - Additional Information (Detail) HTML 135K
40: R73 Notional Amounts for Each Category of Derivative HTML 61K
Activity (Detail)
159: R74 Location and Fair Values of Derivative Financial HTML 57K
Instruments (Detail)
54: R75 Location of Gains and Losses on Derivative HTML 57K
Financial Instruments Designated as Cash Flow
Hedging Instruments (Detail)
45: R76 Location of and Gain (Loss) on Derivative HTML 50K
Financial Instruments Not Designated as Hedging
Instruments (Detail)
49: R77 Derivative Financial Instruments - Additional HTML 86K
Information (Detail)
32: R78 Liability for Unpaid Claims Recon (Detail) HTML 74K
36: R79 Schedule of Other Comprehensive Income (Details) HTML 64K
115: R80 Reconciliation of Policy and Contract Benefits and HTML 62K
Reserves for Future Policy and Contract Benefits
(Detail)
47: R81 Schedule of Net Unrealized Gain on Securities HTML 62K
(Details)
151: R82 Liability for Unpaid Claims - Additional HTML 64K
Information (Detail)
79: R83 Schedule of Reclassifications from Accumulated HTML 95K
Other Comprehensive Income to Income (Details)
122: R84 Income Tax (Benefit)(Detail) HTML 65K
131: R85 Reconciliation of income tax computed at US HTML 62K
Federal tax rates (Detail)
46: R86 Schedule of deferred income tax assets and HTML 69K
liabilities (Detail)
48: R87 Schedule of Income subject to domestic and foreign HTML 79K
taxation (Detail)
148: R88 Unrecognized tax benefits (Detail) HTML 60K
41: R89 Income Tax Additional Information (Detail) HTML 82K
116: R90 Debt Schedule (Detail) HTML 73K
108: R91 Debt - Additional Information Domain (Detail) HTML 113K
135: R92 Employee Benefit Plans Change in Projected Benefit HTML 102K
Obligation Amount (Details)
107: R93 Employee Benefit Plans Net Periodic Benefit Cost HTML 66K
(Detail)
90: R94 Employee Benefit Plans Amounts Recognized in HTML 85K
Balance Sheet (Details)
142: R95 Employee Benefit Plans Amounts Recognized in Other HTML 78K
Comprehensive Income (Details)
86: R96 Employee Benefit Plans US Pension Assets, Fair HTML 109K
Value Inputs (Details)
55: R97 Employee Benefit Plans US Changes in Assets HTML 72K
measured at fair value using significant
unobservable inputs (Details)
98: R98 Employee Benefit Plans UK Pension Assets, Fair HTML 58K
Value Measurement by Input Level (Details)
92: R99 Employee Benefit Plans OPEB Plan Assets, Fair HTML 48K
Value Measurements by Input Level (Details)
72: R100 Employee Benefit Plans OPEB Changes in Assets HTML 55K
Measured at Fair Value Using Signficant
Unobservable Inputs (Details)
162: R101 Employee Benefit Plans Measurement Assumptions HTML 71K
(Details)
133: R102 Employee Benefit Plans Expected Benefit Payments HTML 89K
(Details)
106: R103 Employee Benefit Plans - Additional Information HTML 168K
(Detail)
33: R104 Net Income Per Common Share (Detail) HTML 74K
144: R105 Stockholders' Equity and Earnings Per Common Share HTML 47K
Authorized share repurchase programs (Details)
152: R106 Stockholders' Equity and Earnings Per Common Share HTML 61K
Share Repurchases (Details)
146: R107 Stockholders' Equity and Earnings Per Common Share HTML 78K
- Additional Information (Detail)
102: R108 Stock-Based Compensation - Nonvested Stock Awards HTML 71K
Classified in Equity (Detail)
43: R109 Stock-Based Compensation Stock-Based Compensation HTML 61K
- Cash Settled Awards Classified as Liability
(Details)
125: R110 Stock-Based Compensation Expense (Detail) HTML 52K
59: R111 Stock-Based Compensation - Additional Information HTML 121K
(Detail)
24: R112 Stock option activity (Detail) HTML 74K
88: R113 Reinsurance - Premium Income Data (Detail) HTML 63K
80: R114 Reinsurance - Additional Information (Detail) HTML 53K
140: R115 Reconciliation of Total Operating Revenue and HTML 80K
Operating Income by Segment to Revenue and Net
Income (Detail)
64: R116 Premium Income by Major Line of Business within HTML 88K
Each Segment (Detail)
156: R117 Selected Operating Statement Data by Segment HTML 92K
(Detail)
37: R118 Segment Information Deferred Acquisition Costs by HTML 73K
Segment (Details)
111: R119 Assets by Segment (Detail) HTML 49K
130: R120 Segment Information Segments - Additional HTML 47K
Information (Detail)
27: R121 Commitments and Contingent Liabilities - HTML 78K
Additional Information (Detail)
109: R122 Combined Statutory Capital and Surplus (Detail) HTML 46K
99: R123 Statutory Financial Information (Detail) HTML 48K
30: R124 Statutory Financial Information - Additional HTML 56K
Details (Detail)
113: R125 Schedule of Unaudited Quarterly Results (Detail) HTML 75K
158: R126 Unaudited Quarterly Results - Additional HTML 49K
Information (Detail)
38: R127 Schedule I Summary of Investments (Detail) HTML 100K
66: R128 Parent Company Balance Sheet (Detail) HTML 108K
136: R129 Parent Company Balance Sheet (Parenthetical) HTML 43K
(Detail)
157: R130 Parent Company Statement of Income (Detail) HTML 92K
94: R131 Parent Company Cash Flow Statement (Detail) HTML 109K
110: R132 Parent Company Debt Schedule (Detail) HTML 83K
39: R133 Parent Company Notes - Additional Details (Detail) HTML 92K
44: R134 Schedule III Supplementary Insurance Information HTML 118K
(Detail)
87: R135 Schedule IV Reinsurance (Detail) HTML 86K
68: R136 Schedule V Valuation and Qualifying Accounts HTML 58K
(Detail)
155: XML IDEA XML File -- Filing Summary XML 243K
28: EXCEL IDEA Workbook of Financial Reports XLSX 855K
67: EXCEL IDEA Workbook of Financial Reports (.xls) XLS 8.20M
17: EX-101.INS XBRL Instance -- unm-20131231 XML 11.67M
19: EX-101.CAL XBRL Calculations -- unm-20131231_cal XML 316K
20: EX-101.DEF XBRL Definitions -- unm-20131231_def XML 2.23M
21: EX-101.LAB XBRL Labels -- unm-20131231_lab XML 3.87M
22: EX-101.PRE XBRL Presentations -- unm-20131231_pre XML 2.59M
18: EX-101.SCH XBRL Schema -- unm-20131231 XSD 436K
63: ZIP XBRL Zipped Folder -- 0000005513-14-000008-xbrl Zip 758K
3.04 Distributions Pursuant to Transition Elections 5
3.05 Distributions
Pursuant to Domestic Relations Orders 6
3.06 Other Limitations 6
ARTICLE IV Administration 6
4.01 Allocation of Responsibility 6
4.02 Claims Procedure 6
4.03 Agents, Etc. 8
4.04 Indemnification 8
ARTICLE V Miscellaneous 8
5.01 Amendment
and Termination of Plan 8
5.02 Employee Status 8
5.03 Funding 8
5.04 Actuarial Equivalence 8
5.05 Assignment 9
5.06 Taxes 9
5.07 Plan Documents 9
5.08 Governing Law 9
UNUM
GROUP SUPPLEMENTAL PENSION PLAN
Preamble
The Unum Group Supplemental Pension Plan (the “Plan”) set forth herein is effective generally January 1, 2010. The Plan was originally adopted effective January 1, 1983, and was last amended and restated effective generally January 1, 2008.
The primary purpose of the Plan is to establish a competitive level of retirement income for designated executives of Unum Group and its affiliated companies, by providing pension benefits that may not be provided under the Unum Group Pension Plan by reason of limitations imposed by the Internal Revenue Code of 1986, as amended. Participation in the Plan is limited to a select group of management or highly compensated employees within the meaning of the Employee
Retirement Income Security Act of 1974, as amended.
Article I.Definitions
1.01 “Affiliate” means any corporation that is an affiliate of the Company as defined in the Qualified Plan.
1.02 “Board” or “Board of Directors” means the Board of Directors of the Company, or any person or persons to whom the Board delegates all or part of its authority under this Plan.
1.03 “Code” means the Internal Revenue Code of 1986, as amended from time to time.
1.04 “Administrator”
means the Vice President – Corporate Benefits of Unum Group, and any person or entity to which the Administrator delegates all or part of its authority under this Plan.
1.05 “Benefit Administrative Committee” means the committee appointed in accordance with Section 14.02 of the Qualified Plan to review and determine appeals from adverse benefit determinations.
1.06 “Company” means Unum Group.
1.07 “Earnings” means a Participant’s earnings as defined in the Qualified Plan, except that Earnings shall be determined without regard to the limit on the amount of compensation that may be taken into account under Code Section 401(a)(17), plus amounts deferred by the Participant under
any nonqualified deferred compensation plan of the Company or a Participating Affiliate.
1.08 “Effective Date” of this amendment and restatement means January 1, 2010, except as may be otherwise indicated herein or required by applicable law.
1.09 “Eligibility Date” means the later of (1) the date on which a Participant attains age sixty (60) and (2) the date on which he or she terminates employment with the Company and its Affiliates; provided that, if the Participant is described in Section 3.04(a) or (c), his or her Eligibility Date shall be the date determined
therein.
1.10 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time.
1.11 “Key Employee” means a key employee as defined in Code Section 416(i) and the regulations thereunder, without regard to Code Section 416(i)(5). For purposes of the Plan:
(a) The compensation taken into account for Key Employee determinations shall be “Section 415 Compensation” as defined in the Qualified Plan; and
(b) Whether a Participant is a Key Employee on
his or her termination of employment date or date of death, whichever applies, shall be determined in accordance with Treas. Reg. § 1.409A-1(i), or any successor thereto. The identification date shall be December 31, and the identification shall apply for the 12-month period beginning on the next following April 1 (the specified employee effective date).
1.12 “Participant” for a Plan Year means a participant in the Qualified Plan who either:
(a) has Earnings for the Plan Year that exceed the amount of compensation that may be taken into account under Code Section 401(a)(17);
(b) accrues a benefit for the Plan Year that is limited by Code Section 415 or 416; or
(c) is a participant in any other nonqualified deferred compensation plan
of the Company or a Participating Affiliate for the Plan Year.
Each Participant shall remain an active Participant under the Plan until the earlier of the following dates:
(aa) the date of his or her termination of employment with the Company and all Participating Affiliates or death; or
(bb) the date on which he or she ceases to be a Participant described in the first sentence of this Section or otherwise ceases to be a member of a select group of highly compensated and management employees within the meaning of ERISA.
1.13 “Participating Affiliate” means any Affiliate that has
adopted the Plan with the consent of the Board of Directors.
1.14 “Plan” means the Unum Group Supplemental Pension Plan as set forth herein and as amended from time to time hereafter.
1.15 “Qualified Plan” means the Unum Group Pension Plan, as amended and restated effective January 1, 2005, and as amended from time to time thereafter.
1.16 “Qualified Plan Benefit” means a Participant’s accrued retirement benefit under the Qualified Plan.
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1.17 “Supplemental
Plan Benefit” means the benefit payable to or on account of a Participant from this Plan under Article II.
1.18 “Termination of employment” and “terminates employment” mean or refer to a severing of the employment relationship between an individual and the Company and all Affiliates where all parties reasonably anticipate that no further services will be performed after the termination date or that the level of bona fide services the individual will perform after such date (either as an employee or an independent contractor) will permanently decrease to no more than 20 percent of the average level of bona fide services performed (either as an employee or independent contractor) over the immediately preceding 36-month period or the full period of service for the
Company and all Affiliates, if less than 36 months. A termination of employment does not occur if the individual is on military leave, sick leave, or other bona fide leave of absence, provided the leave of absence does not exceed 6 months or such longer period as the individual retains a right to reemployment pursuant to statute or contract, and there is a reasonable expectation that the individual will return to perform services for the Company or any Affiliate. This Section shall be interpreted and applied in accordance with Treasury Regulation Section 1.409A-1(h).
1.19 “Vested” means that a Participant is fully vested in his or her Qualified Plan Benefit.
Article
II.Supplemental Plan Benefits
2.01 Eligibility.
(a) A Vested Participant shall be entitled to receive a Supplemental Plan Benefit as of his or her Eligibility Date. The amount of such benefit shall be determined in accordance with Section 2.02.
(b) If a Vested Participant dies prior to his or her Eligibility Date, and is survived by a spouse, then a death benefit shall be payable with respect to the Participant in accordance with Section 2.03. If a Participant dies after retirement benefits commence, then a death benefit shall be payable with respect to such Participant only to the extent provided by the form in which such benefit is being paid.
(c) A Participant who terminates employment with the
Company and all Affiliates prior to becoming Vested shall not be eligible to receive any Supplemental Plan Benefits.
2.02 Accrued Supplemental Benefit. The Participant’s accrued Supplemental Plan Benefit as of his or her Eligibility Date shall equal the difference between (a) and (b):
(a) The amount that would be the Participant’s accrued Qualified Plan Benefit as of such date if the qualified benefit were determined on the basis of Earnings under this Plan and without regard to any Qualified Plan provisions incorporating the limits of Code Sections 415 or 416, in the form of a Life Income Benefit (as defined in the Qualified Plan), assuming that payment commences on the Eligibility Date.
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(b) The
amount of the Participant’s actual accrued Qualified Plan Benefit as of such date, in the form of a Life Income Benefit (as defined in the Qualified Plan), assuming that payment commences on the Eligibility Date.
2.03 Death Benefit. The monthly benefit payable to the surviving spouse of a Participant who dies before his or her Eligibility Date shall be equal to the benefit that would have been payable to such spouse under the 66⅔% Joint and Contingent Income Benefit described in Section 3.01(b), based on the following assumptions:
(a) In the case of a Participant who dies after attaining age sixty (60), such Participant had terminated employment and commenced Supplemental Plan Benefit payments immediately before his or her death, or
(b) In the case of a Participant
who dies prior to attaining age sixty (60), such Participant had terminated employment on the earlier of his or her actual termination date or date of death, survived to age sixty (60), and commenced Supplemental Plan Benefit payments on the day immediately prior to his or her death.
2.04 Grandfathered Benefits. If a Participant terminated employment with the Company and all Affiliates before January 1, 2005, then his or her rights and benefits shall not be determined under this amended and restated Plan, but shall be determined strictly in accordance with the terms of the Plan as in effect on December 31, 2004, including, but not limited to, all provisions relating to the amount,
time of payment and form of distribution of Supplemental Plan Benefits.
Article III.Distributions
3.01 Form and Time. Except as provided in Section 3.04, a Participant’s Supplemental Plan Benefit shall commence to be distributed to the Participant as of the first day of the month next following his or her Eligibility Date under Section 2.01(a), and the form of payment shall be determined by the Participant’s marital status on the benefit commencement date.
(a) If the Participant is not married on the benefit commencement date, the Supplemental Plan Benefit shall be a Life Income Benefit. The Life Income Benefit provides a monthly benefit payable for the Participant’s life and ceases with the monthly payment due immediately preceding the Participant’s
death.
(b) If the Participant is married on the benefit commencement date, the Supplemental Plan Benefit shall be an actuarially equivalent 66⅔% Joint and Contingent Income Benefit. The 66⅔% Joint and Contingent Income Benefit provides a monthly benefit payable for the Participant’s life, and, if the Participant predeceases his or her spouse, a monthly survivor benefit payable for the further life of the spouse equal to sixty-six and two thirds percent (66⅔%) of the monthly benefit payable during the Participant’s life. Benefit payments shall cease with the monthly payment due immediately preceding the later of the Participant’s death and the Participant’s spouse’s death.
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3.02 Distributions
Upon Death. In the event of a Participant’s death before commencement of his or her Supplemental Plan Benefit, the pre-retirement death benefit payable to the Participant’s surviving spouse shall commence as of the first day of the month next following the Participant’s date of death or, if later, the date on which he or she would have attained age sixty (60), in the form of a monthly benefit for the surviving spouse’s lifetime.
3.03 Distributions to Key Employees. Effective January 1, 2005, notwithstanding any other provision of the Plan (including the January 1, 2000 amendment and restatement of the Plan) to the contrary, in the case of a Participant who is a Key Employee on his or her termination of employment date, distributions
shall commence as of the later of: (a) the date distributions otherwise would begin without regard to this Section 3.03 and (b) the six-month anniversary of the Participant’s termination of employment date or, if earlier, the Participant’s date of death. No interest shall be accrued during the six-month period if benefit commencement is postponed pursuant to subsection (b) and Code Section 409(A)(a)(2)(B)(i).
3.04 Distributions Pursuant to Transition Rules. Notwithstanding Section 3.01 to the contrary:
(a) Effective January 1, 2007, each eligible Participant (as described below) shall be permitted to make an election regarding the time and form of distribution of his or her total Supplemental Plan Benefit. The
election shall be made before December 31, 2007 (or such earlier date as the Administrator shall specify), in accordance with procedures established by the Administrator pursuant to IRS Notice 2005-1, Q&A-19(c), IRS Notice 2006-79 § 3.02, and the transition rules set forth at 72 Fed. Reg. 19,272.
A Participant is eligible to make a transition election if he or she meets all of the following requirements: (1) the Participant has an accrued Supplemental Plan Benefit attributable to Plan Years before 2008; (2) he or she is an active Participant accruing benefits under the Plan for the 2007 Plan Year and remains employed by the Company and its affiliates on December 31, 2007; and (3) distributions to the Participant have not commenced before January
1, 2008.
A transition election under this subsection (a) shall be irrevocable; provided that, if the marital status of an eligible Participant who makes a transition election is different on the benefit commencement date than on the date of his or her transition election, the Participant shall be permitted (i) to choose payment in the form of any other actuarially-equivalent life annuity that he or she could have elected at the time of making the transition election, and (ii) in connection therewith, to change his or her beneficiary, if any. No other changes to a transition election shall be permitted.
(b) Distributions that commence before January 1, 2008, shall be determined in accordance with the provisions of the Plan as in effect on December
31, 2004.
(c) Distributions to a Participant who has an accrued Supplemental Plan Benefit attributable to Plan Years before 2008, but who is not eligible to make a transition election under
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subsection (a); to whom distributions have not commenced as of January 1, 2008; and who has attained age 60 as of such date shall commence on or before July 1, 2008.
3.05 Distributions Pursuant to Domestic Relations Orders. The distribution
of benefits under the Plan shall be subject to the terms of any domestic relations order with respect to a Participant that is either –
(a) A domestic relations order regarding this Plan that the Administrator determines would be a qualified domestic relations order within the meaning of Code § 414(p) if this Plan were a tax-qualified retirement plan; or
(b) A domestic relations order regarding the Participant’s aggregate benefits under this Plan and the Qualified Plan that has been determined by the Qualified Plan administrator to be a qualified domestic relations order within the meaning of Code § 414(p).
3.06 Other Limitations. The Administrator may require a claimant for a distribution hereunder to furnish such information as it may reasonably
request, and may delay the commencement of a distribution, if necessary, until such information is made available. Under no circumstances shall a Supplemental Plan Benefit be paid except on account of a Participant’s retirement or other termination of employment, or death, or pursuant to a domestic relations order with respect to the Participant.
Article IV.Administration
4.01 Allocation of Responsibility. The Administrator shall be responsible for the operation and administration of the Plan as provided for herein. The Benefit Administrative Committee shall be responsible for the review and determination of appeals from adverse benefit determinations. The Benefit Administrative Committee has plenary authority to interpret the Plan with regard to eligibility for benefits and to all other terms and provisions, and
its final decision on appeal shall not be disturbed except upon a judicial determination of abuse of discretion.
All actions, decisions and interpretations of the Administrator and the Benefit Administrative Committee under the Plan shall be made in a uniform and nondiscriminatory manner.
4.02 Claims Procedure.
(a) An individual claiming benefits under the Plan (or his or her authorized representative) may file an application therefore with the Administrator, by such written, telephonic or electronic means as the Administrator shall prescribe. The application shall be filed with:
If the application for a benefit is wholly or partially denied, the Administrator shall furnish the claimant with written or electronic notification of the adverse benefit determination. The notification shall set forth:
(i) The specific reason or reasons for the adverse benefit determination;
(ii) The specific Plan provisions on which the determination is based;
(iii) Any additional material or information necessary for
the claimant to perfect the claim and an explanation why such material or information is necessary; and
(iv) A description of the Plan’s procedures for review of an adverse benefit determination and the applicable time limits, including a statement of the claimant’s right to bring a civil action under ERISA §502(a) following an adverse benefit determination on review.
The notification shall be furnished to the claimant within ninety (90) days after receipt of his or her claim; provided, such 90-day period may be extended to 180 days if the Administrator determines that special circumstances require an extension of time for processing the claim. The Administrator shall furnish the claimant with written notice indicating any special circumstances requiring an extension of time, and the date by which the Administrator expects to render the benefit determination, prior to the expiration
of the initial 90-day period.
(b) A claimant may appeal an adverse benefit determination by filing a written request for review with the Benefit Administrative Committee within sixty (60) days after receipt of the notification of such adverse benefit determination. The claimant or his or her duly authorized representative may submit to the Benefit Administrative Committee written comments, documents, records, and other information relating to the claim for benefits; and shall be provided, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claim for benefits.
(c) The Benefit Administrative Committee shall provide the claimant with written or electronic notification of the benefit determination on review within sixty (60) days after receipt of a request for review; provided, such 60-day period may be
extended to 120 days if the if the Benefit Administrative Committee determines that special circumstances require an extension of time for processing the claim on review. The Benefit Administrative Committee shall furnish the claimant with written notice indicating any special circumstances requiring an extension of time and the date by which the Benefit Administrative Committee expects to render the determination on review, prior to the expiration of the initial 60-day period.
In the case of an adverse benefit determination, the notification shall set forth the specific reason or reasons for the adverse determination; the specific Plan provisions on which the determination is based; and a statement of the claimant’s rights (i) to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claimant’s claim for benefits; and (ii) to bring a civil
action under Section 502(a) of ERISA.
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(d) Before pursuing a legal remedy, a claimant shall first exhaust all claims, review, and appeals procedures under the Plan. A claimant may not bring a legal action in court against the Plan, Unum Group or any other Employer, the Benefit Administrative Committee, the Administrator, or any other person, or the employees or agents of these entities, more than one (1) year after final disposition of the claim under this Section. As of the Effective Date, the agent of service for legal process upon the Plan shall be:
Glenn Felton, Esq. Vice President, Employment Law Unum Group 1 Fountain Square
Chattanooga, TN37402
This Section is effective for claims and appeals of denied claims received by the Administrator on or after September 1, 2010.
4.03 Agents, Etc. The Administrator and the Benefit Administrative Committee may employ counsel and other agents, may delegate duties to such agents or to employees of the Company and may procure such clerical, accounting, actuarial, consulting and other services as may be required in
carrying out the provisions of the Plan.
4.04 Indemnification. To the extent permitted by applicable law, the Company and the Participating Affiliates shall indemnify and hold harmless the Administrator and each member of the Benefit Administrative Committee against all expenses and liabilities arising out of his or her acts or omissions with respect to the Plan, provided such member would be entitled to indemnification pursuant to the bylaws of the Company or the affected Participating Affiliate, as the case may be.
Article V.Miscellaneous
5.01 Amendment
and Termination of Plan. The Board may at any time, in its sole discretion, terminate this Plan or amend the Plan in whole or in part. No such termination or amendment shall affect the right of any Participant or his or her spouse or designated beneficiary to receive a benefit under the terms of this Plan on the date immediately preceding such termination or amendment.
5.02 Employee Status. Nothing contained herein shall confer upon any Participant the right to be retained in the service of the Company and its Affiliates or any other right not expressly provided for herein, nor shall the existence of this Plan impair the right of the Company and its Affiliates to discharge
or otherwise deal with a Participant.
5.03 Funding. This Plan is unfunded for purposes of the Code and Title I of ERISA and is not intended to meet the requirements of Code Section 401(a). The Plan constitutes a mere promise by the Company and the Participating Affiliates to pay benefits in the future, and a Participant hereunder shall have no greater rights than a general, unsecured creditor of the Company and the Participating Affiliates. The Company and each Participating Affiliate shall be
8
solely
responsible for the payment of benefits with respect to its own employees who are Participants in the Plan.
5.04 Actuarial Equivalence. Actuarial equivalence of the aggregate amounts expected to be received under different forms of benefit payment shall be determined in accordance with the actuarial assumptions specified in the Qualified Plan.
5.05 Assignment. To the maximum extent permitted by law, no benefit under this Plan shall be assignable or subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, attachment, or encumbrance of any kind.
5.06 Taxes. Any and all taxes that may be due and owing
with respect to any payment under the Plan shall be the sole responsibility of the persons to whom and for whose benefit such payment is made, provided, however, that the Company shall withhold from any amount payable under the Plan all amounts that are required by law to be withheld.
5.07 Plan Documents. Each Participant shall receive a copy of this Plan or a summary of its material provisions, and the Administrator shall make available for inspection by the Participant a copy of any rules and regulations adopted by the Administrator in administering the Plan.
5.08 Governing Law. This Plan is established under and shall be construed according to the laws of the
State of Tennessee, except to the extent such laws may be preempted by ERISA.
IN WITNESS WHEREOF, Unum Group has caused this document to be executed by its duly authorized officer on this 10th day of November, 2010, to be generally effective as of January 1, 2010.
