travelers other benefits (rev 1-19) 2€¦ · travelers other benefits (rev 1-19) 3 . important...

Travelers Other Benefits (Rev 1-19) 2

IMPORTANT INFORMATION ........................................ 3 This Is Only A Summary .................................................... 3 It Describes Current Plan Terms ....................................... 3 Not An Employment Contract ............................................ 3 Disputes Handled Through Eligibility or Benefits Determination Request Procedure .................................... 3 Information Sharing ........................................................... 3 Right To Amend Or Terminate .......................................... 3 Common Definitions .......................................................... 3

IDENTITY FRAUD REIMBURSEMENT PLAN .............. 6 Eligibility ............................................................................ 6 Definition ........................................................................... 6 What The Plan Covers ...................................................... 6 Benefits Available Under The Plan Include: ...................... 6 Getting Reimbursed .......................................................... 7 Other Information .............................................................. 7

SURVIVOR SUPPORT ................................................... 9 Introduction ....................................................................... 9 Eligibility ............................................................................ 9 Who Receives Benefits ..................................................... 9 Benefits Provided .............................................................. 9 Taxable Income ............................................................... 10 How To Receive Benefits ................................................ 10

EDUCATIONAL ASSISTANCE PROGRAM ................ 12 Overview ......................................................................... 12 Effective Date .................................................................. 12 Eligibility .......................................................................... 12 Eligible Classes ............................................................... 12 Prior Approval ................................................................. 13 Leave of Absence............................................................ 13 Qualified Educational Expenses ...................................... 13 Requirements For Reimbursement ................................. 14 Requirements For Reimbursement For CPCU Classes Only ................................................................... 14 Requirements For Reimbursement For Employees Terminated Due To A Reduction In Force ....................... 15

Applying For Reimbursement .......................................... 15 Amount Of Reimbursement............................................. 15 Payments ........................................................................ 15 Repayment Of Reimbursement ....................................... 15

EXCESS LIABILITY ..................................................... 17 Eligibility .......................................................................... 17 When Coverage Begins .................................................. 17 Changes To Your Benefit Election .................................. 17 Unpaid Leave .................................................................. 17 When Coverage Ends ..................................................... 17 Coverage Requirements ................................................. 17 Options And Cost ............................................................ 18 Payment For Loss ........................................................... 19 Who Is Covered .............................................................. 19 Exclusions ....................................................................... 19 No Endorsement ............................................................. 19

ADOPTION ASSISTANCE ........................................... 21 Overview ......................................................................... 21 Effective Date .................................................................. 21 Eligibility .......................................................................... 21 Eligible Adoption Expenses............................................. 21 Reimbursement Limit ...................................................... 22 Applying For Reimbursement .......................................... 22 Payments ........................................................................ 22 Tax Benefits .................................................................... 22 Coordination With Other Travelers Benefits .................... 23

PAID PARENTAL LEAVE ............................................ 25 Overview ......................................................................... 25 Effective Date .................................................................. 25 Eligibility .......................................................................... 25 How Paid Parental Leave Works .................................... 25 Definition of “Pay” for Paid Parental Leave ..................... 25 How To Apply For Paid Parental Leave .......................... 25 Coordination With PTO And Short-Term Disability ......... 25 The Company’s Responsibilities ..................................... 25

2019 Employee Benefits Program (U.S.) Other Benefits TABLE OF CONTENTS


IMPORTANT INFORMATION

This Is Only A Summary

This is a summary of certain employee benefit programs sponsored by Travelers which are not subject to the Employee Retirement Income Security Act of 1974 (“ERISA”).

It Describes Current Plan Terms

This summary describes the terms of the programs in effect as of January 1, 2019.

Not An Employment Contract

These programs are not a contract of employment or a guarantee of continued employment for any definite period of time.

Disputes Handled Through Eligibility or Benefits Determination Request Procedure

If you believe that you or a family member are eligible to participate in one of the programs described in this summary, or if you believe that your participation should be on different terms than what has been offered to you, you should contact the ESU via AskESU, [email protected] or 800-441-4378. Your contact will be treated as an informal inquiry regarding your eligibility for benefits. If the ESU informs you that you are not eligible to participate in or receive certain benefits under the program, and you disagree with this response, you or your authorized representative may file a written eligibility or benefits determination request at the following address within 30 days of the date the ESU responds to your informal inquiry.

Travelers Corporate Benefits c/o Employee Services Unit The Travelers Companies, Inc. 385 Washington Street, 9275-SB02L St. Paul, MN 55102 Or by e-mail: [email protected]

Travelers makes a form available for your use in preparing and submitting your eligibility or benefits determination request. The form is available on myHR or by contacting the ESU.

If a dispute involves benefits provided by an outside party (such as through the SurvivorSupport® program), the employee or other participant should contact that party.

Information Sharing

Travelers has engaged outside service providers to assist in the administration of its benefit plans. Travelers may need to share certain information about you and your family members with these service providers as appropriate for them to provide their services. Also, in certain circumstances, Travelers may be required to provide information to governmental agencies.

Right To Amend Or Terminate

Travelers can amend or terminate any of the programs at any time and for any reason. An amendment may apply to active participants, to persons who are on leave, to retirees or other former employees, or to others who are no longer active participants in a program. Further, an amendment may apply to all participants or only to some participants.

Common Definitions

Where used in this summary, the terms below shall have the following meanings:

Participating Affiliates

The “participating affiliates” currently are:

Important Information (continued)


• Travelers Indemnity Company;

• First Floridian Auto and Home Insurance Company (also known as Travelers of Florida); and

• TCI Global Services, Inc.

Spouse

• Your spouse. Your spouse means a person to whom you are legally married in any state or country (including a common-law spouse in a state that recognizes common-law marriage).

• Your domestic partner.* For this purpose, a person is your “domestic partner” if either of the following options are met:

o You and this person are recognized by the laws of the state where the relationship is formed as legally joined in a civil union (and are not legally separated); or

o You and this person meet ALL of the following requirements:

− You and this person have a long-term, intimate, committed relationship with each other, which is demonstrated to be one of mutual caring, affection, and responsibility for each other’s common welfare;

− You and this person hold yourselves out as in a relationship similar to marriage;

− You and this person intend to continue your relationship with each other indefinitely;

− You and this person are unmarried to each other or anyone else;

− You and this person are each other’s sole domestic partner;

− Both you and this person are at least 18 years of age;

− Both you and this person are capable to enter into a contract;

− You and this person are not related by blood closer than permitted by marriage law in your state of residence;

− You and this person share a principal residence and have lived together for at least six (6) consecutive months (and this six (6)-month period immediately precedes the date you complete the Domestic Partner Affidavit and Agreement);

− You and this person are jointly responsible to each other for basic living expenses; and

− The following timing requirements are met (as applicable):

• At least six (6) months has elapsed since (i) the later of your divorce or this person’s divorce from a previous spouse or (ii) the later of the death of your previous spouse or this person’s previous spouse; and

• At least six (6) months has elapsed since the date you notified Travelers that your previous domestic partnership ended (or the date your previous domestic partner was removed from your active coverage under this plan, if later).

* In order for an individual to be considered your domestic partner for this purpose, you and your civil union partner or domestic partner must complete the required Domestic Partner Affidavit and Agreement.


IDENTITY FRAUD REIMBURSEMENT PLAN

Eligibility

You are eligible for coverage under the Identity Fraud Plan (the “plan”) if you are:

• A regular status, salaried employee of Travelers or a participating affiliate; and

• You are scheduled to work at least 20 hours per week.

If you meet the eligibility criteria above, you are automatically covered by the plan. You do not need to do anything to enroll.

Your eligible spouse or domestic partner, your children who have not reached age 18 and your parents residing in your household are also covered by the plan.

Definition

“Identity Fraud” means the act of knowingly transferring or using, without lawful authority, a means of identification of an insured person with the intent to commit, or to aid or abet, any unlawful activity that constitutes a violation of federal law or a felony under any applicable state or local law.

What The Plan Covers

The plan provides expense reimbursement up to $2,500 per covered person for named expenses associated with recovering from identity fraud. To assist in recovering from identity fraud and in restoring financial health and credit history, the benefit also provides a custom Identity Fraud Risk Management website and dedicated fraud specialists who will assist employees in the event they are a victim of identity fraud.

Benefits Available Under The Plan Include:

• Lost wages as a result of time taken off from work to meet with, or talk to, law enforcement agencies, credit agencies and/or legal counsel, to complete fraud affidavits, or due to wrongful incarceration arising solely from someone having committed a crime in the Insured Person’s name, up to $1,000 per week for five (5) weeks up to the policy limit.

• Notary and certified mail charges for completing and delivering fraud affidavits.

• Fees to re-apply for loans that were denied because of erroneous credit information due to the identity fraud.

• Long distance telephone charges for calling merchants, law enforcement agencies or credit grantors to discuss an actual identity fraud.

• Attorneys’ fees incurred, with Travelers’ prior consent, for:

o Defending suits brought incorrectly by merchants or their collection agencies;

o Removing criminal or civil judgments wrongly entered against the victim;

o Challenging information in a credit report;

o Release of medical records in cases of medical identity fraud;

o Contesting wrongfully incurred tax liability; and

o Contesting the wrongful transfer of ownership of an insured person’s tangible property.

• Costs for daycare and eldercare coverage, if that coverage is necessary for an insured person to attend meetings or otherwise have the ability to restore financial health and credit history as a result of identity fraud.

• Travel and accommodations expense up to $1,000 per week up to five (5) weeks.

• Expenses and fees for new government-issued identification such as passports, driver’s licenses and social security cards.

Identity Fraud Reimbursement Plan (continued)


• Expense and fees for copies of health records for purpose of investigating medical identity fraud.

• Identity Fraud Resolution Services: Travelers partners with CyberScout (formerly IDT911) (http://cyberscout.com), whose experienced fraud team works closely with victims to learn about the incident, document the case, advise on case resolution, and support victims by providing written correspondence that will help expedite resolution of their situation. CyberScout performs the following activities for Travelers Identity Fraud Insureds:

o Proactive Assistance. You can call any time you have a question or concern, whether or not you are or ever have been a victim of identity fraud. Help is available for identity-related risks throughout life such as when you are filing your taxes, sending your child off to college, traveling or moving. For direct access to a Fraud Specialist, call 866-989-3175.

o Document Replacement Help when personal documents such as Social Security cards, birth certificates, passports and driver’s licenses are lost, stolen or destroyed.

o Personal Access to an expert fraud specialist at CyberScout to help stop fraudulent bills and charges, work with government agencies and creditors and set up fraud alerts to help detect a recurrence.

o Step-by-Step Guidance through the identity resolution process if you are ever a victim of identity fraud. A fraud specialist will provide a victim of identity fraud with the following services:

− Unlimited assistance to restore victims’ identity, handling the entire notification and documentation process.

− 3-in-1 credit report to review with the victim.

− Enrollment in one year of free credit, cyber and fraud monitoring, plus follow-up.

o Exclusive Online Educational Resources providing tips, information and steps to take to avoid becoming a victim of identity theft. To access content exclusive for Travelers insureds, visit travelers.com/idfraud to access daily news alerts, topical articles, monthly newsletters and a wealth of proactive tips.

− USERNAME: Travelers1

− PASSWORD: Identity2

Please be aware Username and Password are case sensitive. Once logged in using the generic username and password, you will be asked to create your personal log-in. you will then be able to access exclusive content at any time.

Getting Reimbursed

Claims should be reported as soon as possible by calling 800.842.8496. Please inform the Claims Specialist that you are a Travelers employee and your policy number is 104232061.

Other Information

Source of benefits

The plan is insured by Travelers.

Tax effects of lost wage benefits

If you receive benefits under this plan that are due to lost wages, those benefits will be reported as wages to you on your W-2 and will be subject to normal payroll withholding.

How the plan interacts with other Travelers plans

Benefits under the plan, including amounts reported as wages, are not considered compensation under any pension, 401(k) or other benefit plan of Travelers.


SURVIVOR SUPPORT

Introduction

If you passed away, your surviving spouse or domestic partner would have estate settlement and financial questions relating to your Travelers benefits. Similarly, if your spouse or domestic partner passed away, you might need assistance with probate and with financial planning for survivor benefits you might receive. To assist you or your spouse or domestic partner at this difficult time, Travelers has contracted with The Ayco Company, L.P. to provide the SurvivorSupport® service.

Eligibility

You are eligible for SurvivorSupport® benefits if you are a regular status salaried employee of Travelers or a participating affiliate and you are scheduled to work at least 20 hours per week. You do not need to take any action to enroll.

Who Receives Benefits

SurvivorSupport® benefits are available under the following circumstances:

If you die Benefits are provided to the following participant:

• Your surviving spouse or domestic partner

• Your immediate family members if you did not have a spouse or domestic partner at the time of your death

If your spouse or domestic partner dies Benefits are provided to you (you are the participant) Benefits Provided

In the event of a covered death, the appropriate participant will receive the following SurvivorSupport® benefits:

Initial Counseling Session

Ayco will schedule a session, in person or by telephone, with the participant to review:

• The decedent’s estate and the actions that may need to be taken to settle that estate;

• Social Security and other government benefits that may be available due to the death;

• The participant’s financial position;

• Travelers benefits available due to the death; and

• Ayco’s recommendations for establishing financial objectives and priorities.

Personalized Financial Plan

Ayco will prepare a written summary of the initial counseling session, including a checklist of suggested action items.

Interactive Financial Planning Website

Participants will receive a twelve (12)-month subscription to Aycofn®, Ayco’s interactive financial planning website. This website includes financial modeling tools and reference materials on various subjects that may be of interest to participants.

Telephone Access

Twelve (12) months of unlimited, toll-free telephone access to Ayco financial counselors to address questions and assist in the implementation of the Personalized Financial Plan.

Survivor Support (continued)


Taxable Income

SurvivorSupport® benefits are taxable income for federal, and if applicable, state and local income tax and, in the case of Travelers employees, FICA. A participant who is a Travelers employee who receives benefits will have up to $3,300 of taxable income reported on a W-2, and that amount will be subject to normal payroll withholding.

A participant who is the spouse or domestic partner or other family member of a deceased Travelers employee will have up to $3,300 of taxable income reported on Form 1099-MISC for the year in which SurvivorSupport® benefits are received, or the following year if benefits are first received in November or December.

Travelers’ current practice is to make a payment to a participant who receives SurvivorSupport® benefits to compensate the participant for the tax impact of receiving the taxable income. This “tax gross-up” payment will be paid to the participant no later than the end of the taxable year that immediately follows the taxable year in which the participant remitted the taxes being grossed-up to the IRS. The “tax gross-up” payment is itself taxable income and will be reported on a W-2 or 1099-MISC.

How To Receive Benefits

After a covered death, an Ayco representative will contact the participant to determine his or her interest in receiving benefits. More information about receiving benefits will be provided at that time.

SurvivorSupport® is a registered trademark of The Ayco Company, L.P., a Goldman Sachs Company. These services are provided exclusively by The Ayco Company, L.P. Used with permission.


EDUCATIONAL ASSISTANCE PROGRAM

Overview

Travelers has established the Educational Assistance Program to encourage and support employee development. Through the program, Travelers helps eligible employees pay the cost of certain eligible education classes and professional designation and certification programs.

You are not required to pay federal income taxes on the educational reimbursements you receive under this program. You may be required to pay state and local taxes, depending on the state and local taxes that apply to you. Contact your tax advisor for information regarding how state and local tax rules apply to you.

Effective Date

The program, as described below, is effective for classes started on or after January 1, 2019.

Eligibility

You are eligible to participate in the program if:

• On the first day of class:

o You are an active, regular status, salaried employee of Travelers or a participating affiliate;

o You are scheduled to work at least 20 hours a week;

o Your base salary is no more than $150,000; and

o You are currently meeting or exceeding the targets and expectations of your position, as determined by your manager.

AND

• On the completion date of your class, you have at least six (6)-months of continuous service with Travelers;

You are NOT eligible to participate in the program if:

• You are on leave when the class begins;

• You are a retiree;

• You perform services pursuant to a contractor agreement (whether verbal or written) which provides that you are an independent contractor or a consultant; or

• You perform services through and are paid by a third party, including an employee leasing or staffing agency.

Your family members are NOT eligible to participate in the program.

Eligible Classes

Eligible classes may include individual classes at either the undergraduate or graduate level (not doctoral level). Eligible classes may be classroom-based or taken in a distance education format. Eligible classes may include courses of self-study that prepare you for a designation or professional examination. Classes eligible for reimbursement under the program must be “job-related” OR “business-related” AND “required for development” AND taken at an “accredited institution.” A class must be:

Job-Related

Classes relevant to the functions or skills required in performing the employee’s current duties or likely future duties with Travelers are considered “job-related” under the program. OR

Educational Assistance Program (continued)


Business-Related

Classes relevant to for-profit business subjects such as accounting, economics, finance, mathematics, marketing, operations, statistics, and strategy are considered “business-related” under the program. AND

At An Accredited Institution

You must take job-related or business-related classes that are required for development at an accredited institution unless the classes are self-study classes that prepare you for a designation or professional examination.

“Accredited institution” means any college, university or vocational/technical school accredited by a third party, the primary function of which is the presentation of formal instruction and which normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of students in attendance where its educational activities are regularly carried on.

Prior Approval

Travelers will only reimburse you for eligible expenses for eligible classes and only if you receive prior approval. (To receive actual payment for an approved class, you must satisfy the “Requirements For Reimbursement” section.)

To receive prior approval, you must submit an Education Reimbursement application to your immediate manager before registering for a class. You must follow the directions on the form and include all required information.

If your immediate manager approves your application, you must submit the form to the chief financial officer (CFO) of your business unit/staff department for approval. Both your immediate manager and the CFO of your business unit/staff department must approve your application prior to registering for a class. Your immediate manager and the CFO of your business unit/staff department have discretion to determine if eligible classes will be approved.

Leave of Absence

You are not eligible to be reimbursed for any course you begin while you are on leave. However, you may be eligible to receive reimbursement for an approved course you completed while on leave or an approved course you began before the start of the leave.

In addition, if you are on a military leave and unable to complete an approved course, you are eligible to be reimbursed for any such course.

Qualified Educational Expenses

The following types of expenses are qualified educational expenses and eligible for reimbursement under this program (provided you received prior approval and you satisfy the “Requirements For Reimbursement” section):

• Classes for professional designation and certification programs:

o Class tuition;

o Class textbooks; and

o Required (non-optional) fees, such as registration, exam or matriculation fees.

A professional designation or certification program is a program designed to assist you with attaining a designation or certification in your field. Examples of professional designations in insurance include Chartered Property Casualty Underwriter (CPCU), Associate in Risk Management (ARM), and Associate in Claims (AIC). There are professional designations in other fields, including marketing, information technology, investments, human resources and others. To be eligible for reimbursement, the professional designation or certification program must be widely recognized in your field for preparing professionals to excel in their careers. If you have a question about whether a professional designation or certification program will be eligible for reimbursement, please discuss your question with your manager before you enroll in the program.

• All other classes:



o Class tuition only.

However, any benefits under the program will be reduced by the amount of any financial assistance you receive from other sources, including, but not limited to, public or private scholarships or governmental student aid. Financial assistance will be divided, and evenly applied among all courses included in the financial assistance award, regardless of whether the courses are eligible for the Educational Reimbursement Program.

In addition, qualified educational expenses do NOT include the following:

• Meals, lodging or transportation expenses incidental to taking the class, and

• Any tools and supplies (other than textbooks for professional designation and certification programs) you may retain after the end of the class.

Maximum Yearly Benefit

The maximum amount of reimbursement you may receive for qualified educational expenses under this program and all other qualified programs provided by Travelers is $5,250 per calendar year. All qualified educational expenses count toward the $5,250 calendar year maximum in the year they are reimbursed. If the total amount of qualified educational expenses for which you request reimbursement exceeds $5,250 in a calendar year, Travelers will not reimburse you for the excess amount. Instead, you will be responsible for paying the excess amount yourself and you cannot request reimbursement for the excess amount in a different calendar year. In addition, you cannot request partial reimbursement for the same pre-approved class in 2 different calendar years in order to avoid the $5,250 calendar year maximum.

Requirements For Reimbursement

Upon the completion of a prior approved class, Travelers will reimburse you for qualified educational expenses, provided you satisfy the following requirements:

• You are a regular status, salaried employee of Travelers on the first day of class and when the reimbursement request is paid;

• You are scheduled to work at least 20 hours a week;

• You are currently meeting or exceeding the targets and expectations of your position, as determined by your manager; and

• You received a passing grade of a “P” or “C” or better.

Requirements For Reimbursement For CPCU Classes Only

For the first two (2) of any eight (8) classes required for the Chartered Property Casualty Underwriter (“CPCU”) professional designation:

• The requirements for reimbursement for the first two (2) of any eight (8) classes required for CPCU professional designation are the same as for any other eligible class under the program.

For the remaining six (6) of any eight (8) classes required for CPCU professional designation:

The requirements for reimbursement for the remaining six (6) of any eight (8) classes required for CPCU professional designation are the same as for any other eligible class under the program, except for the following:

• If you have received passing grades for all of your previous CPCU classes, Travelers will reimburse you for qualified educational expenses prior to receiving a passing grade for your current class.

The company will support one attempt for each specific exam or course. Any subsequent retakes (including updated course books) will be at the expense of the employee and will not be eligible for reimbursement.



Requirements For Reimbursement For Employees Terminated Due To A Reduction In Force

If you were pre-approved for a class and you were terminated due to a reduction in force during or after completing the class, you will still be eligible for reimbursement under the program at the completion of the course, provided that you received a passing grade of “P” or “C” or better.

“Reduction in force” has the same meaning for this program as it does for The Travelers Severance Plan (“the Severance Plan”). Whether your termination was due to a reduction in force will be determined under the Severance Plan; that determination will be given effect under the program.

Applying For Reimbursement

If you meet the above requirements for reimbursement, you must send the following documents to the Employee Services Unit (“ESU”) at [email protected] or 866.871.4378:

• Your application for education assistance reimbursement (with required pre-approval signature);

• School receipts detailing tuition you paid (not canceled checks);

• Detailed receipts for books and non-optional fees (not canceled checks);

• The official class description; and

• Grade reports indicating successful completion (the attainment of the required grade below).

You must apply for reimbursement within 180 days after completing the class. Requests must be received by December 15 to be credited towards the current year annual maximum.

Amount Of Reimbursement

The percent reimbursement of any eligible expenses will be:

• 100% for eligible classes in which you received a grade of A, B or “P” (passing); and

• 75% for eligible classes in which you received a grade of C.

• 0% for eligible classes in which you received a grade below C.

Part-time employees will receive a pro-rated percent reimbursement of the applicable reimbursement percent for the grade received, as follows:

• 75% reimbursement for employees scheduled to work 30-39 hours per week; and

• 50% reimbursement for employees scheduled to work 20-29 hours per week.

Payments

The ESU will process reimbursement payments in the same cycle as payroll. You will usually receive education reimbursement payments within three (3) weeks of submitting a completed application to the ESU. Education reimbursement payments are issued separately from payroll checks.

Repayment Of Reimbursement

If you voluntarily terminate employment, you must repay any reimbursements received under this program during the 12 months prior to your termination. Submitting your request for reimbursement under the program signifies your acceptance of this term of the program.

If you are involuntarily terminated due to a reduction in force, you will not be required to repay any reimbursements received under the program.


EXCESS LIABILITY

The Excess Liability program, which is underwritten by Federal Insurance Company (CHUBB) and offered through The Signature B&B Companies, provides personal excess liability insurance that extends beyond the primary coverage that you already have on your home, auto, watercraft and recreational vehicles. Federal Insurance Company has issued a policy describing the benefits available under this program. For more information, consult the policy. If there are any inconsistencies between this summary and the policy issued by Federal Insurance Company, the policy will govern.

Eligibility


• You are a regular status, salaried employee of Travelers or a participating affiliate;


• You are actively working or on a paid leave of absence; and

• You meet the pre-requisites listed in the “Coverage Requirements” section.

When Coverage Begins

You can enroll in the plan at any time. If you enroll in the plan during the annual enrollment period, your coverage begins on the first day of a calendar year.

If you enroll at a time other than during the annual enrollment period, your coverage begins on the first day of the month after your acceptance into the program. You will receive an invoice once you are accepted into the program for the monthly rate multiplied by the number of full months remaining in the current calendar year. After this initial payment, payments for following calendar years will automatically be payroll deducted.

Changes To Your Benefit Election

During the annual enrollment period you may increase, decrease, add or drop coverage. Changes to your coverage are not allowed outside of the annual enrollment period except for when coverage ends as described in the next section.

If you enroll in the plan, your coverage will automatically continue while you are an active employee or on a paid leave of absence.

Unpaid Leave

In the event that you transition to an unpaid leave of absence and you are unable to return to work within four (4) weeks of beginning your unpaid leave of absence, your coverage in the program will terminate as of the last day premiums are paid unless you contact The Signature B&B Companies directly to continue payments. You can contact them for individual continuation options directly by emailing Kathryn Riffle at [email protected] or calling 516.823.3131.

When Coverage Ends

Your coverage will end on the date your employment is terminated, or earlier if you fail to pay the required premium. If you retire, you can continue coverage through direct payment to The Signature B&B Companies. For individual continuation options at retirement, contact Kathryn Riffle at [email protected] or calling 516.823.3131.

Coverage Requirements

The plan requires that you maintain the following primary limits to avoid any gap in protection:

• Personal Liability (homeowners) for personal injury and property damage in the minimum amount of $100,000 each occurrence.

• Registered vehicles in the minimum amount of $250,000/$500,000 bodily injury and $100,000 property damage; or $300,000 single limit each occurrence. Registered vehicles include motorcycles and motor homes.

• Unregistered vehicles in the minimum amount of $100,000 bodily injury and property damage each occurrence.

Excess Liability (continued)


• Watercraft less than 26 feet and 50 engine rated horsepower or less for bodily injury and property damage in the minimum amount of $100,000 each occurrence.

• Watercraft 26 feet or longer or more than 50 engine rated horsepower for bodily injury and property damage in the minimum amount of $500,000 each occurrence.

• Uninsured motorist protection in the minimum amount of $250,000/$500,000 bodily injury, or $300,000 single limit occurrence.

Options And Cost

You pay for the entire cost of the coverage you elect under this plan. If you enroll during the annual enrollment period, your payroll deductions will start with the first paycheck of the calendar year after you enroll.

If you enroll at a time other than during the annual enrollment period, complete the Excess Liability Insurance Coverage Election Form and submit it to the address on the form. Once the completed enrollment form is accepted, you will receive an invoice from The Signature B&B Companies, for the amount due for the first calendar year’s premium (i.e., the monthly rate multiplied by the number of full months remaining in the current calendar year), as indicated on the election form. After the end of that first calendar year, premiums will automatically be payroll deducted and your coverage will continue unless you elect to discontinue your coverage during the annual enrollment period. You may increase your coverage mid-year. You must pay the additional required premium for the increased coverage directly to the Signature B&B Companies. The Excess Liability policy provides the following coverage options:

Excess Liability Options and Cost Personal Excess

Liability Coverage Excess Uninsured

Motorist Limit of Liability Annual Rate Monthly Rate Pay Period Rate

$50,000,000* $2,000,000 $12,316.00 $1,026.33 $513.17 $40,000,000* $2,000,000 $11,263.00 $938.58 $469.29 $30,000,000* $2,000,000 $7,771.00 $647.58 $323.79 $25,000,000* $2,000,000 $4,795.00 $399.58 $199.79 $20,000,000 $2,000,000 $3,831.00 $319.25 $159.63 $15,000,000 $2,000,000 $2,197.00 $183.08 $91.54 $10,000,000 $2,000,000 $1,624.00 $135.33 $67.67 $5,000,000 $2,000,000 $800.00 $66.67 $33.33

* Coverage in excess of $20,000,000 requires completion of the Chubb Personal Excess Participant Questionnaire.

Note: All coverage levels include $2,000,000 in Excess Uninsured Motorist protection. This limit can be increased to $3,000,000 or $5,000,000 for an additional annual premium. Employment Practices Liability endorsement is also available for an additional annual premium.

• Increase Excess Uninsured Motorists protection to $3,000,000 for an additional annual premium of $102.

• Increase Excess Uninsured Motorists protection to $5,000,000 for an additional annual premium of $305.

• Include Employment Practices Liability with a limit of $250,000 per occurrence/$500,000 annual maximum for an additional premium of $732 annually. Masterpiece EPLI Coverage Request Worksheet required.

Excess Liability (continued)


Payment For Loss

The excess liability program will pay up to the amount of covered damages based on the coverage option elected for any one (1) occurrence, regardless of how many claims, homes, vehicles, watercraft or people are involved. The program pays only for covered damages in excess of all underlying insurance coverage, even if the underlying coverage is for more than the minimum amount.

Who Is Covered

The following are covered under this program:

• You or a family member;

• Any person using a vehicle or watercraft covered under this policy with permission from you or a family member;

• Any person or organization with respect to their legal responsibility for acts or omissions of you or a family member; or

• Any combination of the above.

Exclusions

There are a number of exclusions that are set forth in the policy issued by Federal Insurance Company. You should consult the policy for more information.

No Endorsement

Although Travelers has agreed to make this excess liability coverage available through the plan, Travelers in no way endorses the Federal Insurance Company program. You are under no obligation to participate in the program and are free to select other insurance coverage outside the plan.


ADOPTION ASSISTANCE

Overview

Adopting a child is a rewarding experience, but it can also be a very expensive process. To help minimize some of the cost, Travelers offers financial support through the Adoption Assistance program.

The Adoption Assistance program is designed to provide financial assistance for eligible adoption expenses. To the extent possible, the program is designed to take advantage of federal law that permits certain types of expenses to be reimbursed without being subject to federal or state income tax.

Effective Date

The program, as described below, is effective January 1, 2019 for eligible adoption expenses for adoptions finalized on or after January 1, 2017.

Eligibility


• You are a regular status, salaried employee of Travelers or a participating affiliate;


• You are actively working or on a paid leave of absence; and

• You have been employed at Travelers or a participating affiliate for one year prior to the adoption.

Eligible Adoption Expenses

The program pays for eligible adoption expenses for adoptions that are finalized while you are covered under the program. To qualify for reimbursement, the expense must be

• An “eligible adoption expense”

• For adoption of an “eligible child”

An “eligible adoption expense” is any expense that is a qualified adoption expense under section 137 of the Internal Revenue Code – these generally include:

• Adoption agency and placement fees

• Legal fees and court costs incurred for an adoption

• Transportation and lodging expenses while away from home

• Other expenses that are directly related to, and the principal purpose of which is for, legal adoption

Expenses that are not eligible for reimbursement under this program include expenses incurred:

• With respect to an adoption that is in violation of state or federal law

• With respect to an adoption that is never finalized

• In carrying out any surrogate parenting arrangement

• In connection with adopting a child of your spouse or domestic partner

• When the adopting parent is the grandparent, step-grandparent, or any other relative of the child being adopted

Adoption Assistance (continued)


In addition, adoption expenses reimbursed from another source are not eligible expenses under this program.

An “eligible child” generally is any child who, at the time the expense is incurred, is under the age of 18 or is physically or mentally incapable of caring for himself or herself.

Adoption expenses for children with special needs may also be eligible for reimbursement. A child with special needs generally includes any child that is:

• A citizen or resident of the United States; and

• A state has determined that the child cannot or should not be returned to the home of his or her parents; and

• A state has determined that a specific factor or condition exists, (e.g., ethnic background, age, physical, mental or emotional handicaps, etc.) such that the child cannot be placed with adoptive parents without providing adoption assistance

Expenses will be reimbursed only for adoptions that are finalized after you are covered by the program.

Expenses are considered “incurred” when services are provided, not when payment is made.

Reimbursement Limit

The maximum amount available for reimbursement under the plan is $5,000 per eligible child.

This $5,000 limit applies regardless of the number of participants eligible under this program to seek reimbursement with respect to a single child. So, if both you and your spouse are covered under the program, the combined limit for both of you is $5,000 per eligible child.

Applying For Reimbursement

If you meet the above requirements for reimbursement, you must send the following documents to the Leave of Absence Unit at [email protected] or 866.871.4378 or by mail: Travelers, Corporate Benefits - Leave of Absence Unit, Adoption Assistance, One Tower Square, 2MN, Hartford, CT 06183 – 7152.

• The reimbursement application form; and

• Itemized receipts or invoices for expenses incurred.

You must apply for reimbursement within 90 days after the adoption is finalized or within 30 days of the receipt of notice of an eligible expense, if later.

Payments

The Leave of Absence Unit will process reimbursement payments in the same cycle as payroll. You will usually receive adoption assistance reimbursement payments within three (3) weeks of submitting a completed application to the Leave of Absence Unit. Adoption assistance reimbursement payments are issued separately from payroll checks.

Tax Benefits

The expenses reimbursed under this program may be eligible for exclusion from your income for federal tax purposes – Section 137 of the Internal Revenue Code. However, they are subject to FICA (social security) and FUTA (unemployment) taxes. Consult your tax advisor on these issues.

You may also be eligible for a tax credit in 2019 of up to $14,080 per eligible child for additional adoption expenses that are not reimbursed through this program. However, you cannot apply the same expenses to both the income tax credit and reimbursement from the Adoption Assistance program. The maximum income tax credit is reduced dollar for dollar by any amount you receive as reimbursement from this Adoption Assistance program. The tax credit may be taken over a number of years, but cannot total more than $14,080 per child.

Adoption Assistance (continued)


The tax credit and income exclusion are phased out beginning with adjusted gross incomes of $211,160 and disappear altogether at $251,160. The income limitation amounts in this paragraph are in effect in 2019. They are subject to cost-of-living adjustments each year.

The amount of reimbursements made to you under the program will be reported in a separate box on your Form W-2. It will not be reported in the taxable wage box on Form W-2 (but will be included as FICA wages). You may nonetheless have to include some or all of it as taxable wages on your Form 1040 (depending on your adjusted gross income). It is your responsibility to determine how much (if any) is taxable.

Travelers will not take federal income tax withholding from adoption expense reimbursements made under the program, but will take FICA and FUTA withholding. Because federal income tax is not withheld from your reimbursements, you may have to make an adjustment to your income tax withholding (on Form W-4) or make estimated tax payments to avoid potential penalties for underpayment of taxes.

Special Note on Foreign Adoptions and Adoptions of Children with Special Needs: A tax exclusion is available for these adoptions – that is, the adoption of an eligible child who is not a citizen or resident of the United States and/or adoption of a child with special needs – only if the adoption becomes final.

Coordination With Other Travelers Benefits

When a child is adopted or placed with you for adoption, you have 90 days from the adoption or placement date to add that child to your medical coverage. If you do not enroll the adopted dependent within 90 days of adoption or placement, the dependent will not be eligible for Travelers medical coverage until the annual enrollment period. See the Medical summary for more details.

When a child is adopted or placed with you for adoption, you have 31 days from the adoption or placement date to add that child to your dental, vision and life coverage. If you do not enroll the adopted dependent within 31 days of adoption or placement, the dependent will not be eligible for Travelers coverage until the annual enrollment period. See the applicable plan summary for more details.

In addition, you may be eligible for the Dependent Care Spending Account plan (“FSA plan”). If so, you can enroll in the FSA plan, or change the contribution amount, at any time within 31 days of adoption or placement for adoption. See the Flexible Spending Accounts summary for more details.

To enroll your dependent in Travelers coverage and/or enroll yourself in the FSA plan, please contact the ESU.


PAID PARENTAL LEAVE

Overview

To allow parents more time to bond with a new child, Travelers has a Paid Parental Leave program for mothers and fathers.

Effective Date

The program, as described below, is effective January 1, 2018 for children born, adopted or placed in foster care on or after January 1, 2018.

Eligibility

You are eligible to participate in the program if you are a regular status, salaried employee of Travelers or a participating affiliate.

How Paid Parental Leave Works

If you are an eligible full-time employee, you may take up to ten days of paid parental leave, to be taken in five-day increments, within the first year after the birth, adoption or foster care placement of a child. Your paid parental leave will be calculated based upon your “weekly earnings.”

If you are an eligible part-time employee, you may take a pro-rated allotment equivalent to two work weeks of paid parental leave, to be taken in one work-week increments, within the first year after the birth, adoption or foster care placement of a child.

Paid parental leave will be counted as leave under the Family and Medical Leave Act (FMLA) if applicable.

Definition of “Pay” for Paid Parental Leave

“Weekly earnings” means your gross weekly regular earnings from Travelers in effect just prior to the date of your leave. It includes your base salary, and any applicable shift differential. For members of the CAT team, “weekly earnings” also includes amounts characterized as “catastrophe” pay paid as an annual differential and amounts imputed for “catastrophe” pay during periods when CAT team members are on temporary assignments for which catastrophe pay is suppressed. “Weekly earnings” is determined before taxes and any deductions made for before-tax contributions for benefits (such as 401(k) Savings Plan contributions, Flexible Spending Account contributions, or medical premium deductions). It does not include income received from commissions, bonuses, overtime pay or any other compensation.

How To Apply For Paid Parental Leave

You should discuss your request for leave with your manager once the need for the leave is foreseeable. After speaking with your manager you should open a leave request in the Travelers Absence Management (TAM) system.

You must complete and return the applicable paperwork to the Leave of Absence Unit promptly to finalize your request. The company reserves the right to require reasonable documentation of the birth, adoption or foster care placement.

Coordination With PTO And Short-Term Disability

If you gave birth, the days of paid parental leave will follow the period of disability (usually six weeks) and precede the use of any awarded paid time off (PTO).

If you have questions about the Paid Parental Leave program, please contact the ESU via AskESU, [email protected] or 800.441.4378.

The Company’s Responsibilities

Travelers cannot interfere with, restrain, or deny the exercise of, or the attempt to exercise, any right provided under this policy. In addition, Travelers will not discharge, or in any other manner discriminate against, any individual for opposing any practice prohibited by this policy.

US.119512217.08

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