Brunswick Pension Plan For Salaried Employees
TABLE OF CONTENTS Introduction ......................................................................................................................................1 Your Pension Plan............................................................................................................................2 Eligibility and Participation .............................................................................................................2 Qualifying for a Retirement Benefit ................................................................................................4 What Determines Your Benefit .......................................................................................................5 Calculating Your Retirement Benefit ..............................................................................................5 Forms of Payment ............................................................................................................................8 Your Spouse’s Benefit .....................................................................................................................9 Applying For Benefits....................................................................................................................10 Administrative Information ...........................................................................................................10 Your ERISA Rights .......................................................................................................................13
Introduction The Brunswick Pension Plan for Salaried Employees (“the Plan”) provides you with a companypaid pension benefit. This booklet is the Summary Plan Description (SPD) of the Plan as of January 1, 2010. It explains who is eligible to participate, when you can begin receiving a benefit, and how your benefit is determined. You and your spouse or beneficiary should read the booklet now to become familiar with your benefits, and keep it for future reference. Although this booklet provides accurate and essential information about the Plan, you should understand that it is not a complete description. The official Plan document governs the operation of the Plan. That document sets forth all of the details and provisions of the Plan and is subject to amendment. If any questions arise that are not covered in this booklet or if this booklet appears to conflict with the official Plan document, the text of the official Plan document will determine how questions will be resolved. If you have any questions about the Brunswick Pension Plan for Salaried Employees, or want to obtain a copy of the Plan document, contact Brunswick Corporation.
Your Pension Plan Who Is Eligible Effective April 1, 1999, eligibility for the Brunswick Pension Plan for Salaried Employees was frozen. There shall be no new participants after that date. You are an eligible participant in the Plan if you were a salaried employee of a participating group who was either: • a vested participant in the Plan as of July 1, 1999, or •
a non-vested participant in the Plan, age 40 or older as of July 1, 1999.
Effective December 31, 2009, the Plan was amended to freeze benefit accruals, which means that no further benefits will be earned under the Plan after that date.
When You Can Retire Your normal retirement date is the later of the first of the month following or coinciding with your 65th birthday, or five years of vesting service. However, you can also retire as early as your 50th birthday with at least five years of vesting service.
Amount of Benefit The value of your benefit depends on several factors, such as: • your length of service (up to 30 years) •
your age when you begin receiving your benefit
your payment option
If you were hired on or before December 31, 1988, your pension benefit is calculated
under two formulas. You will receive the greater of the two amounts.
Payment Options There are numerous methods of benefit payment. How pension benefits are paid depends on your marital status at the time your payments start. If you are single, benefits will be paid as a life annuity. If you are married, benefits will be paid as a 50 percent joint and survivor annuity, unless you elect a different form of payment, with your spouse as your beneficiary.
Spouse’s Death Benefit Your surviving spouse is eligible for a death benefit if: • you die before receiving any pension benefits; and •
you have at least five years of vesting service
Eligibility and Participation Eligibility Eligibility for participation in the Plan was frozen on April 1, 1999. No new participants shall be accepted after that date. You are a participant in the Plan if you were a salaried employee of a participating group who met one of the following criteria effective April 1, 1999: • you were a vested participant in the Plan (or were scheduled to be vested as of July 1, 1999), or • you reached age 40 as of July 1, 1999. If you did not meet one of these criteria, you are not a participant in the Salaried Pension Plan after April 1, 1999. However, you may be eligible to receive Plan benefits accrued
before April 1, 1999. Plan participation before April 1, 1999 was based upon meeting the following criteria: • you were at least age 21 with one year of service, or • you were age 35 or more when hired. Participants and beneficiaries may make written request of the Plan administrator about whether a particular employer or employee organization is a sponsor of the Plan, and, if it is, the sponsor’s address.
Enrolling in the Plan If you met the eligibility requirements, you were automatically enrolled in the Plan.
Earning Service The Plan has two kinds of service: vesting service and benefit service. VESTING SERVICE
Vesting service determines your eligibility to receive Plan benefits. You become vested in the Plan after you accrue five years of vesting service. You can earn one year of service for each calendar year in which you complete at least 1,000 hours of service. If you work less than 1,000 hours, you earn vesting service as shown in the chart. Service prior to January 1, 1976, is counted in full and partial years from your date of hire based on elapsed time.
VESTING SERVICE Hours of Service in a Year Less than 75 75 to less than 225 hours 225 to less than 375 hours 375 to less than 525 hours 525 to less than 675 hours 675 to less than 825 hours 825 to less than 975 hours 975 to less than 1000 hours 1000 hours or more
Years of Service Earned None 1/12 of a year 2/12 of a year 3/12 of a year 4/12 of a year 5/12 of a year 6/12 of a year 7/12 of a year One full year
Benefit service is a factor in determining the amount of your benefit. It is counted in full years and full months from the date you become a Plan participant to the date you leave the Company. However, you cannot earn more than 30 years of benefit service under this Plan. You earn an hour of service for each hour you are paid or entitled to payment for performing your duties or for which back pay has been awarded or agreed to by the Company. Hours of service also are credited for periods when you are not working due to paid vacation, holiday, illness, incapacity, layoff, jury duty, and paid or unpaid leaves of absence approved by the Company. During these periods, you will receive hours of service credit equal to the number of hours you are regularly scheduled to work. Please note, however, during any single continuous period you shall accrue no more than 501 hours of service or the number of hours of service accrued during the duration of recall or re-employment rights as established by Company policy, whichever is greater.
During periods of military service and approved absences under the Family Medical Leave Act (FMLA), benefit service will be credited in accordance with the applicable provisions of federal law. If you are a part-time employee working less than a standard work week, or a temporary employee working less than a full year, you will earn one year of benefit service for each year you have 1,000 or more hours of service. If you have less than 1,000 hours of service in a year, you will earn benefit service according to the schedule shown on the vesting service chart for earning partial years of vesting service.
On or after April 1, 1999, any participant who ceases active participation in the Plan for any reason, including termination of service will not resume participation, even if reemployed or transferred back to an eligible group.
Qualifying for a Retirement Benefit Your age and your vesting service determine when you qualify to receive a retirement benefit. The types of retirement provided by the Plan are described below.
Normal Retirement Your normal retirement date is the first of the month following or coinciding with your 65th birthday, although you may elect to continue working for an indefinite period of time. However, if your full-time employment continues past age 65, you will not be eligible to receive monthly pension payments until you actually retire. If you were age 60 or older when you were hired, you must complete at least five years of participation in the plan to qualify for a retirement benefit. 4
You may decide to delay retiring until a later date. If your full-time employment continues past age 65 you will not start receiving payments until you leave Brunswick. Your pension benefit will take into account the greater of any benefit service you earn after age 65 (up to a maximum of 30 years) or your age 65 pension benefit with an actuarial increase . If you continue working for the Company after your 65th birthday but work less than 40 hours in any calendar month, you will stop accruing benefits service, and you may apply for pension benefits.
If you have at least five years of vesting service, you will be eligible for a pension benefit as early as the first of the month on or after your 50th birthday. If you prefer to receive your Brunswick pension before age 65, the amount of your payments will be reduced by 4 percent per year before age 65 to reflect the longer payment period expected. See the “Adjustment for Early Retirement” section on page 8 for the early retirement reduction rates.
Disability Retirement If you become totally and permanently disabled, as defined by the Social Security Administration, at any time before your 65th birthday but after earning 15 or more years of vesting service, you may be eligible for disability retirement benefits. You must be disabled for at least six months before disability retirement benefits can begin. To be considered totally and permanently disabled, you must submit a Social Security disability award letter. From time to time, you may be asked to submit to a medical exam to certify your continuing disability.
Deferred Vested Retirement If you leave Brunswick for any reason after you have five or more years of vesting service, you will be eligible for a deferred vested pension benefit. You can receive your full benefit at age 65 or you can receive a reduced benefit starting anytime after your 50th birthday. See the “Adjustment for Early Retirement” section on page 8 for the reduction chart. However, if you leave the Company or die before you complete five years of vesting service, no benefits will be payable to you or your beneficiary.
What Determines Your Benefit In addition to your benefit service, three other factors affect the amount of your pension benefit: your Final Average Pay, Social Security Covered Compensation, and Benefit Roll-Up, if applicable. Final Average Pay is your average annual pay for the three highest-paid consecutive calendar years you participated in the Plan — usually the three years prior to your retirement. For this Plan, annual pay is defined as base pay (including any Retirement Savings Plan before-tax contributions), overtime, sales commissions and short-term bonuses. Pay does not include stock incentives, Strategic Incentive Plan bonus, moving expenses, or any other W-2 eligible compensation. Social Security Covered Compensation is used to take into account the Social Security benefit you’ll receive. Your covered compensation is the average of the annual
Social Security wage bases in the 35 years ending with and including the year you reach Social Security normal retirement age (age 65 to 67, depending on your year of birth). Since covered compensation is based on age, everyone who was born in the same year has the same covered compensation. The covered compensation table is updated annually by the IRS to reflect increases in the Social Security taxable wages. If you are a Plan participant who was hired on or before December 31, 1988, a Benefit Roll-Up method is used to calculate your benefit earned through 1988. This roll-up method reflects, in part, pay increases you received after 1988. It is used to help offset any potential negative impact on your benefit from the formula adopted in 1990, as a result of a change in federal law.
Calculating Your Retirement Benefit The Brunswick Pension Plan for Salaried Employees is a “defined benefit” plan. This means your monthly pension benefit is calculated under a formula. Employees who participated in the Plan before January 1, 1989 accrued benefits before that date under a different formula.
Benefit Formula The formula has three parts: A, B and C. When you retire, your pension benefit will be calculated under all parts, and you will receive the highest amount. Part B only applies to employees who were Plan participants before January 1, 1989.
PART A (CURRENT PLAN FORMULA)
1.5 percent x Final Average Pay (FAP) x Years of Benefit Service (up to 30 years). PLUS
0.5 percent x (FAP less Social Security Covered Compensation) x Years of Benefit Service (up to 30 years). PART B (COMBINATION FORMULA — EQUALS SUM OF 1 + 2 BELOW)
1. Old Formula Past Service Benefit (Benefit earned through December 31, 1988 x Benefit Roll-Up) 2. Current Formula Service Benefit (1.5 percent x FAP x Years of Benefit Service after 1988) PLUS
0.5 percent x (FAP less Social Security Covered Compensation) x Years of Benefit Service after 1988 PART C (MINIMUM BENEFITS)
For active eligible employees as of December 31, 2002, an annual normal retirement benefit shall not be less than $8,500 annually.
Sample Benefit Calculations The following are examples of how the formula would impact two fictitious Brunswick employees. EXAMPLE 1
Jim Johnson retires in 2003 at age 65. He has 25 years of benefit service and a Final Average Pay of $40,000. Jim’s benefit is calculated as follows: PART A: CURRENT PLAN FORMULA 1.5%
Final Average Pay (FAP)
X Years of Benefit Service
(FAP) – Social Security Covered Compensation)
X Years of Benefit Service
($40,000 - $39,000)
= $125.00 Benefit Earned Under Part A
PART B: COMBINATION FORMULA (EQUALS SUM OF 1 + 2 BELOW) 1.
Old Formula Past Service Benefit
Benefit earned as of 12/31/88
X Benefit Roll-Up
Current Formula Service Benefit 1.5%
Final Average Pay
X Years of Benefit Service after 1988
(FAP) – Social Security Covered Compensation)
X Years of Benefit Service after 1988
($40,000 - $39,000)
= $70.00 Benefit Earned Under Part B
As Jim’s Part B benefit ($15,530.50) is larger than his Part A benefit ($15,125.00), he would receive an annual retirement benefit of $15,530.50. If either the Part A or Part B benefit was less than $8,500 then the benefit amount would be $8,500 under Part C. EXAMPLE 2
Rachel Wood retires from Brunswick in 2003 at age 65, with 7 years of benefit service and a Final Average Pay of $80,000. Her benefit is calculated as follows: PART A: CURRENT PLAN FORMULA 1.5%
Final Average Pay (FAP)
X Years of Benefit Service
(FAP) – Social Security Covered Compensation)
X Years of Benefit Service
($80,000 - $39,000)
= $1,435.00 Benefit Earned Under Part A
Since Rachel was hired after December 31, 1988, the old formula does not apply and there is no Part B calculation. She would receive an annual retirement benefit equal to the greater of Part A and Part C, or $9,835.00.
Disability Benefit Your benefit is based on your Final Average Pay (FAP) and benefit service up to the date your short-term sick leave ends. Unlike early retirement benefits, disability retirement benefits are not reduced, even though you may begin receiving them before age 65. At age 65, your benefit will be recalculated as a normal retirement benefit, using your final average pay and benefit service as of your disability date. If you are no longer considered disabled, your disability benefits will end. If you return to work for Brunswick, your prior service will be reinstated and you will earn additional benefits under the Plan. If you don’t return to work for Brunswick, you may receive early retirement benefits, if you are eligible.
Age When Payment Commences 64 63 62 61 60 59 58 57 56 55 54 53 52 51 50
Percentage of Age 65 Benefit Payable 96% 92% 88% 84% 80% 76% 72% 68% 64% 60% 56% 52% 48% 44% 40%
Deferred Vested Benefit
Forms of Payment
If you have at least five years of vesting service when you leave Brunswick, you are entitled to a full benefit beginning at age 65, or you can receive a reduced benefit any time after you reach age 50. See the following section for information on the reduction factors for retirement before age 65.
Because people’s needs differ, the Plan allows you to choose how your benefits will be paid. There are several payment methods available to you, as described below.
Adjustment for Early Retirement Because your retirement benefit is expected to be paid over a longer period if you retire early, reduction factors are applied to your normal benefit, as shown in the chart. For example, if your normal retirement benefit is $1,000/month and you retire at age 62, you may elect to receive a monthly benefit of $1,000 at age 65, or 88 percent of this amount ($880) beginning immediately.
Life Annuity This method pays you a monthly benefit during your lifetime, with payments ending when you die. It pays the largest monthly amount because no payments are made after you die. If you are single at the time benefit payments start, this is your standard form of payment. Your benefits will be paid in this form unless you choose another form when you apply for retirement benefits.
Joint and Survivor Annuities
Your Spouse’s Benefit
This method pays you a monthly benefit for life, and provides a continued benefit for your beneficiary after you die. Joint and survivor annuities come in three different forms, with their names denoting the percentage of your monthly benefit that is continued to your beneficiary after your death: 50 percent, 75 percent, and 100 percent. That is, your beneficiary will receive a monthly benefit equal to 50 percent, 75 percent, or 100 percent of your benefit for the rest of the beneficiary’s life. Each pays a reduced benefit amount because payments are expected to be made over two lifetimes, as opposed to only one for the life annuity method.
If you die before your pension begins.
The reduction in the benefit amount is based on the option chosen and the ages of you and your beneficiary when you retire. The 50 percent joint and survivor annuity is the standard form of payment if you are married at the time payments start, with your spouse automatically named as your beneficiary. If you are married and you want to name a beneficiary other than your spouse, or you want another payment option, your spouse must consent and sign an election form in the presence of a plan representative or notary public.
Lump Sum Payments In general, lump sum payments are not available as an option to you under the Plan. However, if the present value of the benefit payable to you or your beneficiary is $1,000 or less, the Plan will automatically pay the benefit in a lump sum. If the benefit payable to you or your beneficiary is more than $1,000 and less than $5,000, you can elect to have the Plan pay the benefit in a lump sum.
Eligibility Should you die before your pension begins, your spouse is eligible for benefits if you: • had at least five years of vesting service; or • were receiving disability pension payments. In addition, you must not have received any Plan payments, except in the case of disability retirement. If you are single and die before your pension benefits start, your beneficiary will not receive any benefits.
Benefit Amount If you meet the eligibility requirements for these benefits and you die before benefit payments start, your spouse will receive a lifetime monthly benefit. The amount will be the benefit you would have received under the 100 percent joint and survivor annuity if you had retired on the day before your death. If you die while eligible for early retirement, payments will be calculated as if you had retired and begun receiving benefits on the day of your death. If you die before becoming eligible for early retirement, benefits will be calculated as if your employment ended on the date of your death. The Plan will assume you lived to qualify for early retirement and chose to have your benefits begin as early as possible. Payments to your spouse begin on the later of the date you died or the date you would have qualified for early retirement.
Applying For Benefits Application Procedure You can obtain the necessary forms from the Brunswick Pension Service Center. Submitting your application for pension benefits approximately three months before you plan to retire will reduce the chances of delay in your benefits. Sometime between 90 days and 30 days before the date your benefits are planned to begin, the Plan administrator will send you written Retirement Election Information, which will include the terms and conditions of your retirement benefit, the forms and amounts of payment you qualify for, and the choices you are eligible to make. When you receive this information you have the right to wait 30 days before making your elections (for example, electing the form of payment). You may choose to waive this right and have benefits begin with as little as a 7-day waiting period.
If Your Application Is Denied If your application for benefits is wholly or partially denied, written notice will be sent to you within 90 days. If the 90-day period is insufficient to render a decision on your application, the period may be extended to 180 days, and you will receive a written notice explaining the delay. The decision notice will explain why your application was denied based on specific plan provisions; will tell you what additional information, if any, is needed; and will describe how claims are reviewed. For example, circumstances that might lead to a denial, loss, or suspension of benefits include: failure to provide the required information to support your claim, or determination that you are not a vested participant at the time of retirement.
Claim Review If you disagree with the decision to deny your application, you have the right to review pertinent plan documents and to have the Benefits Administration Committee, One North Field Court, Lake Forest, IL 60045, review your claim. You have 60 days after your application is denied to request a review. In most cases, the Committee will give you a decision within 60 days. However, it may take up to an additional 60 days to review your claim. In this case, you will be notified about the extension ahead of time. The decision of the Committee is final. If the Committee denies an appeal in whole or in part, you will receive written notice of this decision. The notice will explain why your claim was denied, based on the specific plan provision.
Administrative Information Brunswick Pension Service Center P.O. Box 997 Deerfield, IL 60015 1-877-BRUNSWK (1-877-278-6795) www.brunswick.mercerhrs.com Plan Sponsor and Administrator Brunswick Corporation One North Field Court Lake Forest, IL 60045 (847) 735-4700 Employer Identification Number 36-0848180 Plan Number and Name 023 — The Brunswick Pension Plan for Salaried Employees
Funding of the Plan Plan contributions are paid by Brunswick. Contributions are actuarially determined and held in a trust fund by the Plan Trustee. Funding Considerations The Pension Protection Act imposes benefit restrictions on plans with an adjusted funding target attainment percentage of less than 80%. Depending on the funding level, these restrictions may include restricting enhanced shutdown benefits, benefit increases, accelerated vesting or accelerated distributions. If any of these restrictions apply to the plan, Brunswick will notify affected participants within 30 days of the event. Plan Trustee The Bank of New York One Wall Street New York, New York 10286 Plan Year January 1 through December 31 Agent for Service of Legal Process General Counsel One North Field Court Lake Forest, IL 60045-4811 Service of legal process may also be made on the Plan administrator or the Trustee. Type of Plan The Brunswick Pension Plan for Salaried Employees is a defined benefit plan, meaning the official Plan document specifies the benefit amount you will receive. Brunswick expects to contribute sufficient money to pay the benefits the Plan describes. Right to Amend or Terminate the Plan Brunswick reserves the right to change or
terminate the Plan at any time. If the Plan is terminated, you will be fully vested in your accrued benefit as of the effective date of the termination. Also, the Plan is subject to Internal Revenue Service, U.S. Department of Labor and Pension Benefit Guaranty Corporation (PBGC) rules, regulations and statutes, and will be changed to comply with any changes in these rules, regulations and statutes. If the Plan is terminated, its assets will be used to pay benefits according to priorities in the legal plan document. The first priority is to employees who have earned a vested right to a benefit. No part of the Plan’s assets will go to Brunswick except as permitted by law. Pension Benefit Guaranty Corporation Your pension benefits under this Plan are insured by the Pension Benefit Guaranty Corporation (PBGC), a federal insurance agency. If the Plan terminates (ends) without enough money to pay all benefits, the PBGC will step in to pay pension benefits. Most people receive all of the pension benefits they would have received under their plan, but some people may lose certain benefits. The PBGC guarantee generally covers: (1) normal and early retirement benefits; (2) disability benefits if you become disabled before the Plan terminates; and (3) certain benefits for your survivors. The PBGC guarantee generally does not cover: (1) benefits greater than the maximum guaranteed amount set by law for the year in which the Plan terminates; (2) some or all of benefit increases and new benefits based on Plan provisions that have been in place for fewer than five years at the time the Plan terminates; (3) benefits that are not vested because you have not worked long enough for the Company; (4) benefits for which you have not met all of the
requirements at the time the Plan terminates; (5) certain early retirement payments (such as supplemental benefits that stop when you become eligible for Social Security) that result in an early retirement monthly benefit greater than your monthly benefit at the Plan’s normal retirement age; and (6) nonpension benefits, such as health insurance, life insurance, certain death benefits, vacation pay, and severance pay. Even if certain of your benefits are not guaranteed, you may still receive some of those benefits from the PBGC depending on how much money your Plan has and on how much the PBGC collects from employers. For more information about the PBGC and the benefits it guarantees, ask your Plan administrator or contact the PBGC’s Technical Assistance Division, 1200 K Street N.W., Suite 930, Washington, D.C. 20005-4026 or call (202) 326- 4000 (not a toll-free number). TTY/TDD users may call the federal relay service toll-free at 1-800877-8339 and ask to be connected to (202) 326-4000. Additional information about the PBGC’s pension insurance program is available through the PBGC’s Web site on the Internet at www.pbgc.gov. Limit on Benefits Federal regulations place a limit on the maximum annual pension plan benefit payable to certain participants with relatively high compensation. These regulations also limit the amount of pay that may be considered when calculating the Plan’s benefit. You can contact the Brunswick Pension Service Center for more information concerning the application of the above limit. Mergers, Consolidations or Transfers If the Plan is merged or consolidated, or Plan assets are transferred to another plan,
your current accrued benefit will be protected. Your accrued benefit under the new plan, if the current Plan were to terminate immediately after the change, would at least equal the amount you would be entitled to receive if the current Plan had been terminated just before the change. Assignment of Benefits For the protection of your interests and those of your dependents, your benefits under the Plan cannot be assigned and are not subject to garnishment or attachment, except to the extent permitted by law. For example, some or all of your benefits may be assigned to a former spouse under a Qualified Domestic Relations Order (QDRO). You or your beneficiaries may obtain, without charge, a copy of the Plan’s procedures governing QDRO assignments. Contact the Brunswick Pension Service Center for these procedures. If the Plan Becomes “Top-Heavy” If the Plan becomes “top-heavy” (if 70 percent of the benefits from the Plan are payable to highly-paid employees), you will be notified. During any period in which the Plan is top-heavy, there will be an accelerated vesting schedule, minimum benefits and limitations on compensation. Change in Control In the event of a termination, merger or transfer of assets of the Plan during the five years following a change in control of the Company occurring on or before March 1, 2004, benefits would be increased so that there would be no excess net assets. Also, in the event of the involuntary termination of employment (other than for cause) of a Plan participant during the five years following a change in control of the Company that occurs on or before March 1, 2004, the participant’s pension would not be reduced as a result of early retirement.
Implied Promises This document provides a summary of the Plan and how it works. It does not constitute an implied or expressed contract or guarantee of employment.
Your ERISA Rights As a participant in the Brunswick Pension Plan for Salaried Employees, you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA provides that all Plan participants shall be entitled to: • Examine, without charge, at the Plan administrator’s office and at other specified locations such as work sites, all Plan documents, including insurance contracts and copies of the latest annual report (Form 5500 Series) filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration. • Obtain copies of all Plan documents and other Plan information upon written request to the Plan administrator. The administrator may make a reasonable charge for the copies. • Receive a summary of the Plan’s annual financial report. The Plan administrator is required by law to furnish each participant with a copy of this summary annual report. • Obtain a statement telling you if you have a right to receive a pension at normal retirement age (later of age 65 and five years of participation) and if so, what your benefits under the Plan would be at normal retirement age if you stop working now. If you do not have a right to a
pension, the statement will tell you how many more years you have to work to get a right to a pension. This statement must be requested in writing and is not required to be given more than once a year. The Plan must provide the statement free of charge.
Prudent Actions by Plan Fiduciaries In addition to creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate your Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your employer or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining benefits or exercising your rights under ERISA.
Enforce Your Rights If your claim for a benefit is denied, in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time limits. Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of Plan documents or the latest annual report from the Plan and do not receive them within 30 days, you may file suit in a federal court. In such a case, the court may require the Plan administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the administrator.
If you have a claim for benefits that is denied or ignored, in whole or in part, you may file suit in a state or federal court. In addition, if you disagree with the Plan’s decision or lack thereof concerning the qualified status of a domestic relations order, you may file suit in Federal court. If it should happen that Plan fiduciaries misuse the Plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court. The court will decide who should pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees — for example, if it finds your claim is frivolous.
Assistance with Your Questions If you have any questions about your Plan, you should contact the Plan administrator. If you have any questions about this statement or about your rights under ERISA, or, if you need assistance in obtaining documents from the Plan administrator, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory, or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.
Plan Fiscal Year End: December 31 Agent for Service of Legal Process: Marschall Smith, General Counsel One North Field Court Lake Forest, IL 60045-4811 Service of legal process may also be made on the Plan Administrator or the Trustee.
Brunswick Corporation 1 North Field Court Lake Forest, IL 60045