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Chapter 500: Benefits Program Plans

540.010 Long Term Disability Plan

Bd. Min. 4-20-73, p. 36,648, 36,675; Amended Bd. Min. 5-20-77, p. 37,698; Amended Bd. Min. 2-23-79, p. 37,955, effective 4-29-79; Bd. Min. 7-25-80, effective 12-1-80, 7-21-87 and 12/18/87. Amended Bd. Min. 12-8-89, effective 9-1-90; 2-1-91. Amendments LTD-1 and LTD-2 effective 10-15-96. Amendment LTD-3 effective 1-1-04. Amendment LTD-4 effective 1-1-05. Amendment LTD-5 and LTD-6 effective 1-1-07.

In accordance with the action of the Board of Curators on April 20, 1973, the following Long Term Disability Plan is hereby instituted for all Eligible Employees of The Curators of the University of Missouri to provide benefits to those Eligible Employees who elect to become members of the plan, subject to the exceptions, limitations and provisions of this plan.

  1. Definitions
    1. "Base Salary" -- For the purposes of contribution determination and payment of benefits, the term Base Salary as used in the Plan shall mean the employee's salary, exclusively paid by the University, which is defined as follows:
      1. For Eligible Academic Employees or academic appointments, Base Salary is the regular nine or eleven month appointment remuneration not to exceed $150,000, excluding additional remuneration for special services, projects, summer terms and intersessions, all as determined by the University.
      2. For all other Eligible Employees, Base Salary is the annual appointment remuneration not to exceed $150,000 or, for hourly wage earners, the product of their hourly wage rate, their regular work week and 52 weeks per year excluding overtime wages and special services, all as determined by the University.
      3. If base salary is not in even $100.00 increments, it shall be rounded to the next highest even $100.00 level.
    2. "Eligible Employee" -- means an individual who:
      1. is considered full-time by the University, who is classified at least 75% full-time equivalence, with an indicated appointment duration of at least nine months (for the purpose of this section any individual who is simultaneously employed by the University and the Harry S. Truman Veterans Administration Hospital pursuant to an agreement between said organizations, and whose joint appointments, combined, otherwise meet the requirements of this section, shall be considered an Employee); and
      2. is paid out of University Funds; and shall also include all other full-time Employees of the University, full-time to the University, and full-time Employees of other agencies or institutions attached to the University, but not an integral part of the University, or any of them, while designated by the University as entitled to be covered under this Plan; and
      3. performs the essential functions of the job at the usual place of employment or at a place designated by the University. Employee, shall include any full-time Employee on vacation or on leave of absence.
      4. a "per diem" employee, as defined in Section 320.050 of the Collected Rules and Regulations of the University of Missouri will not be considered an Eligible Employee under this plan.
    3. "Elimination Period" -- means a period of continuous disability which must be satisfied before the Member Employee is eligible to receive benefits. The Elimination Period is stated in the Scheduled of Benefits.
         During and after satisfaction of the Elimination Period, if a Member Employee:
       
            • returns to active work
            • becomes disabled again; and
            • remains insured under the plan;
       
      the same period of disability may continue. The return to active work must be for less than:
       
            • 1 year, if the later disability results from the same cause, or a related one; or
            • 1 day, if the later disability results from a different cause.
       
         If the Member Employee returns to active work and meets either of the above conditions, the Member Employee does not have to satisfy the portion of the qualifying period that was previously satisfied. The Maximum Benefit Period will continue on the day the Member Employee becomes disabled again.
    4. "Injury" -- wherever used in this Plan means bodily injury caused by an accident occurring while the Eligible Employee who suffered an accident is a member of the Plan and while the Plan is in force, and resulting directly and independently of all other causes in Total Disability covered by this Plan. An Injury must occur within 31 days after the date of the accident.
    5. "Integrated Benefits" -- The integration of benefits as provided for under the Schedule of Benefits shall mean the sum of the benefits payable under the Worker's Compensation Insurance, primary and family benefits under a social security program (including the Federal Social Security Act but excluding Supplemental Security Benefits), Civil Service Retirement Benefits, Federal Employees Retirement System, any other State or Federal Government Disability Plans, benefits under the University of Missouri Retirement and Death Benefit Plan, and compensation paid by the University to the employee for including, but not limited to, accumulated sick leave, vacation, leave of absence or personal days. For the purpose of this Long Term Disability coverage, failure of the employee to comply with any requirements to make formal proof of claim, or to make demand for any of the amounts referred to above, shall not prevent the Plan sponsor from including such total amounts otherwise so payable in the determination of benefits payable under the Plan. A lump sum payment for loss of compensation made under any Worker's Compensation Act, or other laws of a similar nature, including any portion designated for Attorney's fees, or other expenses, shall be divided by the number months specified as the period of time which was the factor in computing such payment, and the result shall be considered as the monthly amount to be included in the determination of Integrated Benefits in each month for which benefits are payable under the Plan. When no such period is stated, said lump sum payment will be divided by the lesser of 24 months, or the number of months in the maximum period for which benefits are payable under the Plan, and the result shall be considered as the monthly amount to be included in the determination of Integrated Benefits in each month for which benefits are payable under the plan.
    6. "Material and Substantial Duties" -- means the essential tasks and duties of the Eligible Employee's occupation that cannot be reasonably omitted or modified.
    7. "Member Employee" -- means an Eligible Employee who is a member of the Plan.
    8. "Mental Illness" -- means a mental disorder as listed in the current edition of the Diagnostic and Statistical Manual of Mental Disorders, as published by the American Psychiatric Association. A Mental Illness, as so defined, may be related to or be caused by physical or biological factors, or result in physical symptoms or expressions. For the purpose of the plan, Mental Illness does not include any mental disorder listed within any of the following categories found in the Diagnostic and Statistical Manual of Mental Disorders, as published by the American Psychiatric Association:
      • Mental Retardation;
      • Motor Skills Disorder;
      • Pervasive Development Disorders;
      • Delirium, Dementia, and Amnesic and other Cognitive Disorders;
      • Schizophrenia; and
      • Narcolepsy, Obstructive Sleep Apnea, and Sleep Disorder due to a general medical condition.
    9. "Option A" -- wherever used in this Plan shall mean monthly benefits payable at 60% of Base Salary divided by 12, however, said amount shall be reduced by any sum by which the Integrated Benefits as described in Section 540.010.A.8, plus the monthly benefit exceeds 60% of Base Salary divided by 12.
    10. "Option B" -- wherever used in the Plan shall mean monthly benefits payable at 66 2/3% of Base Salary divided by 12, however, said benefit shall be reduced by any sum by which the Integrated Benefits as described in Section 540.010.A.8, plus the monthly benefit exceeds 85% of Base Salary divided by 12.
    11. "Physician" -- means an M.D. or D.O. who is licensed to practice medicine and prescribe or administer drugs, or a person who has a doctoral degree in psychology and whose primary practice is treating patients. A Physician must be someone who is a legally qualified practitioner according to the laws and regulations of the governing jurisdiction, and who is performing tasks that are within the limits of his or her medical license. Physician does not include the Member Employee, the spouse of the Member Employee, or the sibling, parent, or child of the Member Employee or of the Member Employee's spouse.
    12. "Pre-existing Condition" -- means a condition for which the Member Employee received medical treatment, consultation, care or services, including diagnostic measures, or received prescription drugs in the 24 months prior to the effective date of the Member Employee's coverage. Pre-Existing Condition also means any condition that produced symptoms within 24 months prior to the effective date of the Member Employee's coverage for which an ordinarily prudent person would have sought medical diagnosis or treatment.
    13. "Regular care and attendance" -- means a planned program of observation and treatment requiring the personal attendance of the Member Employee by a currently licensed Physician or surgeon which, once initiated is continued in accordance with existing standards of medical practice for the condition or conditions rendering the Member Employee sick or injured.
    14. "Regular Occupation" -- means occupation or employment engaged in by the Member Employee immediately prior to the date of the commencement of any Injury or Sickness covered under this plan.
    15. "Rehabilitative Employment" -- means any occupation or employment for wage or profit, for which Member Employee is reasonably qualified by education, training or experience, engaged in by the Member Employee while meeting the conditions of Total Disability.
    16. "Schedule of Benefits" wherever used in this Plan means the benefits provided for in Section 540.010.L hereof.
    17. "Sickness" -- wherever used in this plan means Sickness, disease, pregnancy, childbirth or related medical conditions, but shall not include abortions except where the life of the mother would be endangered if the fetus were carried to term or except where medical complications have arisen from an abortion. Such Sickness must be the cause of disability commencing while the Eligible Employee whose Sickness is the basis of claim for benefits is a member of the Plan and while the Plan is in force.
    18. "Special Conditions" -- means:
      • musculoskeletal and connective tissue disorders of the neck and back including any disease or disorder of the cervical, thoracic, and lumbosacral back and its surrounding soft tissue including sprains and strains of joints and adjacent muscles, except:
        • arthritis;
        • ruptured intervertebral discs;
        • scoliosis;
        • spinal fractures;
        • osteopathies;
        • spinal tumors, malignancy, or vascular malformations;
        • radiculopathies, documented by electromyogram;
        • spondylolisthesis, grade II or higher;
        • myelopathies and myelitis;
        • demyelinating diseases; or
        • traumatic spinal cord necrosis.
      • chronic fatigue syndrome;
      • fibromyalgia;
      • carpal tunnel syndrome;
      • environmental allergic illness, including but not limited to sick building syndrome and
      • multiple chemical sensitivity; or
      • alcohol, drug or chemical abuse, dependency or addiction.
    19. "Total Disability" -- During the Elimination Period and the 24 months immediately following the Elimination Period, Total Disability means that, as the result of Injury or Sickness:
          The Member Employee is wholly and continuously unable to perform the Material and Substantial Duties of his or her Regular Occupation; and
      The Member Employee is under the Regular Care and Attendance of a Physician.
      Thereafter, Total Disability means that, as the result of Injury or Sickness:
          The Member Employee is wholly and continuously unable to perform the Material and Substantial Duties of any occupation for which he or she is qualified by education, training, or experience; and which, for employees enrolled in Option A, will provide monthly compensation of at least 60% of Base Salary divided by 12; and which, for employees enrolled in Option B, will provide monthly compensation of at least 66.67% of Base Salary divided by 12.
      The Member Employee is under the Regular Care and Attendance of a Physician.
      The Member Employee (excluding those member employees who are not covered under a social security plan) must satisfy both of two conditions:
      First either:
          Reached the normal retirement age under a social security plan prior to the end of the first 24 months of disability and not be able to return to full-time work in any occupation for which the Member Employee's education, training, and experience qualifies him/her; or
      as a result of Injury, Sickness, or pregnancy, a social security plan determined the Member Employee had a disability which began prior to the end of the first 24 months of disability; and
      Second, the social security plan disability or normal retirement payments continue.
    20. "University" -- as used herein shall be construed to mean such administrators, committees or agents of The Curators of the University of Missouri as may be from time to time designated to carry out the terms of the Plan.
  2. Effective Date -- The Plan takes effect on May 1, 1973. It will continue in effect for a minimum period of one year but the University reserves the right to terminate the Plan at the end of one year or at any time thereafter upon the giving of six months notice.
  3. Employees Eligible -- The following group or groups of employees are eligible:
    1. Class I -- Eligible employees under age 62.
    2. Class II -- Eligible employees age 62 or older, but under age 70.
  4. Effective Date of Membership in Plan
    1. Effective September 1, 1990, all current Eligible University of Missouri Employees shall be enrolled in Option A, unless participation has been declined by the employee.
    2. The completion of an enrollment/waiver form designating that coverage under Option A has been declined must be submitted to the University's Faculty and Staff Benefits Office, or its authorized representative. Should an employee decline coverage, enrollment at a later date will be allowed only with evidence of good health, as accepted and approved by the University, or its authorized representative.
          Effective September 1, 1990, all current Eligible Employees covered under Option A as described above, may elect Option B benefits by completion of an enrollment form designating the election of Option B benefits and the deliverance of such enrollment form to the University's Faculty and Staff Benefits Office, or its authorized representative during the 60 day period ending October 31, 1990.
    3. Each eligible employee who begins employment with University of Missouri on September 1, 1990, or thereafter, shall become a Member Employee with respect to each of the several benefits afforded by Option B of the Plan, without evidence of good health, on the first day of the month following the month in which the employee has submitted the properly completed enrollment card to the University Faculty and Staff Benefits Office, or its authorized representative 30 days from the employee's beginning date of employment.
          Enrollment in Option B at a later date will be allowed only with evidence of good health as accepted and approved by the University, or its authorized representative. Coverage will begin on the first day of the month immediately following the month in which evidence of good health is approved by the University.
         If an Eligible Employee who is eligible by reason of employment is absent from work because of a disability when such employee would otherwise become a Member Employee, such Eligible Employee shall become a Member Employee upon the date of return to the Regular Occupation.
  5. Individual Terminations -- The membership of any Member Employee shall immediately terminate on the earliest of the following dates:
    1. On the date this Plan is terminated;
    2. On the day immediately following the day the Member Employee resigns, leaves or is dismissed from employment of the University or is retired under the Retirement, Disability and Death Benefit Plan of the University;
    3. As of the contribution due date if the Member Employee fails to pay the required contribution;
    4. On the last day of the month during which the Member Employee shall give the University written notice of the intention to terminate membership; or
    5. On the date of the death of the Member Employee.
  6. Salary Continuance Provisions
    1. In any month following the Elimination Period, while the Member Employee suffers a Total Disability, the Plan will pay the applicable benefits stated in the Schedule of Benefits. These benefits will not be paid beyond the Maximum Period Payable stated in the Schedule of Benefits.
    2. When, immediately following satisfaction of the Elimination Period or immediately following any period during which the total disability benefits are payable, the Member Employee engages in Rehabilitative Employment, the Plan will pay as a rehabilitative employment benefit the applicable Benefits written in the Schedule of Benefits less the amount by which total disability benefits after allowing for Integrated Benefits under this plan plus Integrated Benefits plus the compensation or income earned by the Member's Employer from such Rehabilitation Employment exceeds 100% of the Base Salary of the Member Employee at the time of disability.
    3. If Rehabilitative Employment benefits have been paid for a period of 12 months, and the member remains totally disabled while working in Rehabilitative Employment, then a reduced benefit will be paid that is equal to the Total Disability benefit payable under this plan less 50% of the amount of compensation from the Member Employee's new Rehabilitative Employment..
    4. If Sickness benefits are payable hereunder and if the Member Employee, while the policy is in force, suffers a recurrence of total disability from the same or related cause or causes, the subsequent period of Total Disability will be deemed a continuation of the prior period, unless between such periods the Member Employee has performed the duties of the occupation on a full-time basis for at least six consecutive months, in which event, such a Total Disability shall be deemed the result of a new Sickness and subject to a new Elimination Period.
    5. The Monthly Benefit paid under this part shall be that as determined on the Schedule of Benefits Section 540.010.L based on the salary the Member Employee would have received on the first day of the Elimination Period, had the employee not become sick or injured.
    6. With respect to any Member Employee whose effective date of membership in the Plan (as specified in 540.010 D hereof) is on or before July 1, 1977 and who has been continuously a member in the Plan since July 1, 1977. Nothing in this part or in any other part of the Plan shall invalidate or nullify the benefits herein provided for or prohibit the payment of benefits to such a Member Employee who suffers a period of disability either as a result of Injury or Sickness, if such period of disability was caused by a Pre-existing Condition, provided however, they were enrolled in the Stuyvesant Plan on April 30, 1973, or within two months after the beginning date of their employment.
      1. Except as provided in Section 540.010.F.7.b, with respect to any Member Employee whose effective date of membership in the Plan (as specified in Section 540.010 D hereof) is after July 1, 1977 or with respect to any Member Employee whose effective date under the Plan is on or before July 1, 1977 but who has not been continuously a member in the Plan since July 1, 1977; no benefits will be payable under the Plan for any period of disability if such disability was caused by a Pre-existing Condition provided, however that no claim for benefits for any disability commencing after three years from such Member Employee's effective date of membership in the Plan shall be reduced or denied on the ground that such disability resulted from a Pre-existing Condition present on such employee's effective date of membership in the Plan.
      2. Any employee who is an Eligible Employee on August 31, 1990 and who is also a Member Employee as of September 1, 1990, shall not be subject to the provision of Section 540.010.F.7.a during the period of September 1, 1990 through August 31, 1993 provided such individual maintains continuous status as a Member Employee for the stated period of time.
    7. If it has been determined that a claimant is no longer Totally Disabled, the claimant has 90 days from the date of notification of discontinuation to furnish proof of the claimant's continued Total Disability. A claimant who furnishes proof of continued disability, within 90 days, will be eligible for benefits from the date the claimant was determined to be continuously disabled.
    8. Monthly benefits will not be paid to any claimant who has been determined by the University to qualify for a University provided vocational rehabilitation program that would enable a claimant to return to work but who refuses to participate in such a program.
  7. Waiver of Contribution -- The payment of any contribution of any Member Employee will be waived during any period of disability for which a benefit is payable under the Plan. The Plan shall remain in force as to such Member Employee during the period for which contribution has been waived, subject to the provisions of Section 540.010 E of the Plan, except as to the payment of contributions. Upon termination of the Member Employee's disability, renewal contribution will become due and payable in accordance with the provisions of the Plan.
  8. Exclusions -- This Plan does not cover any loss caused by or resulting from:
    1. Suicide or any attempt thereat while sane;
    2. Declared or undeclared war or any act thereof;
    3. Service in the Armed Forces of any country or international authority.
    4. Intentionally self-inflicted injuries, while sane or insane
    5. The commission or attempted commission of an assaulty or felony
    6. Active participation in a riot
    7. Any period commencing during any period of incarceration
    8. Participation in an illegal occupation or fraudulent act
  9. Certificate of Plan Membership -- The University will issue to each Member Employee evidence of membership in the Plan.
  10. Contribution Calculation and Payment -- Contributions for this Plan shall be calculated on the following basis:
    1. Option A -- No employee contributions are required. University pays full cost of coverage not to exceed $.60 per $100 of Base Salary unless such excess cost has previously been approved by The Curators of the University of Missouri.
    2. Option B -- For employees who elect Option B coverage, the University shall contribute an amount equal to the amount contributed for employees enrolled in Option A. An employee will be required to contribute the incremental cost of Option B in excess of Option A.
  11. Discontinuance -- In the event of termination of the Plan by the University or in the event the Member Employee terminates employment with University, any benefits being paid or payable on the date of such termination will continue to be paid in accordance with the terms of the Plan, subject only to the limitations provided in 540.010.0.
  12. Schedule of Benefits
    1. Class I and Class II: The applicable monthly benefit for Total Disability as set forth herein shall be subject to the maximum benefit of $7,500 for Option A and $8,333 for Option B and shall be paid beginning with the first day following an Elimination Period (During which no benefits accrue) of 149 calendar days from the date of Total Disability.
          The monthly benefit shall be equal to 60% of the monthly Base Salary for Option A and 66 2/3% of the monthly Base Salary for Option B. The monthly benefit, however, shall be reduced by a sum by which the total for the Integrated Benefits, plus the monthly benefit exceeds either:
         60% of Base Salary for those Member Employees who are participating in Option A; or 85% of Base Salary for those Member Employees who are participating in Option B.
         Once the amount of reduction has been determined for each alternative benefit source noted in Section 540.010.A.5, it will not be increased if amendments, or changes increase the benefit payments to which the individual is entitled under such alternative sources.
         In no event will the monthly benefit payable for Total Disability be less than $50.
    2. Class I: Member employees enrolled in either Option A or Option B shall be eligible to receive such benefits during Total Disability until the Member Employee's 65th birthday, after which date benefits for the Plan shall terminate.
    3. Class II: Member employees enrolled in either Option A or Option B shall be eligible to receive such benefits in accordance with the following schedule:
Age on Incurred Date Maximum Benefit Period
62 3-1/2 years
63 3 years
64 2-1/2 years
65 2 years
66 1-3/4 years
67 1-1/2 years
68 1-1/4 years
69 1 year
  1. Limitation -- A maximum benefit period will apply for Member Employees whose disability is based on a Mental Illness. The maximum benefit period for all such periods of disability is as follows:
       Class I - 24 months
       Class II - the lesser of 24 months or the applicable maximum benefit period described in the 540.010.L.3.
       This is not a separate maximum for each such Mental Illness condition as for each period of disability but a combined maximum for all periods of disability and for all of these conditions.
       A maximum benefit period will apply for Member Employees whose disability is based on a Special Condition. The maximum benefit period for all such periods of disability is as follows:
       Class I - 24 months
       Class II - the lesser of 24 months or the applicable maximum benefit period described in 540.010.L.3.
       This is not a separate maximum for each such Special Condition as for each period of disability but a combined maximum for all periods of disability and for all of these conditions.
  1. General Provisions
    1. All statements made by the Member Employees shall be deemed representations and not warranties and no such statement shall avoid or reduce the benefits under this Plan or be used in defense of a claim hereunder unless it is contained in a written application signed by the Member Employee.
    2. Written notice of claim must be given to the University within twenty days after the occurrence or commencement of Injury or Sickness covered by this Plan, or as soon thereafter as is reasonably possible. Notice given by or on behalf of the Member Employee to the Faculty and Staff Benefits Office on the campus where employed, or to the University Faculty and Staff Benefits Office, 114 Heinkel Building, Columbia, Missouri, 65211, with information sufficient to identify the Member Employee, shall be deemed notice to the University.
    3. The University upon receipt of notice of claim will furnish to the Member Employee such forms as are usually furnished by it for filing proofs of disability. If such forms are not furnished the Member Employee shall be deemed to have complied with the requirements of the Plan as to proof of disability upon submitting within the time fixed in the Plan for filing proofs of disability, written proof covering the occurrence, the character and extent of the disability for which claim is made.
    4. Except in the absence of legal capacity, written proof of disability must be provided to the University, at its said Office, within one year from the date of disability.  For any Member Employee in receipt of benefit payments under the Plan, proof of disability must be submitted within 90 days such proof is requested by the University or its designated representative.
    5. All benefits of this Plan will be payable to the Member Employee.
    6. Subject to due written proof of disability, all accrued benefits for disability for which this Plan provides periodic payment will be paid each month and any balance remaining unpaid upon the termination of disability will be paid immediately upon receipt of subsequent due written proof of disability covering such remaining period and balance.
    7. The University at the Plan's expense shall have the right and opportunity to examine the person of the Member Employee when and so often as it may reasonably require during the pendency of a claim hereunder.
    8. No action at law or in equity shall be brought to recover under this Plan prior to the expiration of sixty days after written proof of disability has been furnished in accordance with the requirements of this Plan.
    9. Any increase or decrease in monthly contributions by reason of an increase or decrease in the annual Base Salary, shall be made in the month in which Base Salary changes.
  2. Legal Effect of this Plan -- This plan is a statement policy within the limits of which the Board expects to exercise the powers vested in it. Insofar as it is within its power to do so, the Board will observe and carry out this plan. The plan shall not impair or be taken to waive any powers now or hereafter vested in the Board under the Constitution and laws of the State of Missouri, nor shall it ever be construed to constitute any contractual obligation which the Board is without power to enter into under the Constitution and laws of this State.
  3. Termination of Plan
    1. The Board of Curators may terminate this Plan as of April 30, 1974, upon giving to the Member Employees six months notice thereof, and after April 30, 1974, may terminate the Plan at any time by giving six months notice of such termination to Member Employees. The Plan may be amended by the Board of Curators at any time.
    2. In the event of termination, each Member Employee totally disabled on the termination date has a right to benefits under the Plan as it existed immediately before termination to the extent of available funds in the trust and in accordance with the priorities set out herein. These rights are nonforfeitable.
    3. In the event of such Plan termination the trust fund shall be continued for the benefit of the Member Employees with nonforfeitable claims, with the following priorities:
      1. The cost of maintaining and administering the trust fund and the Plan liquidation shall first be paid.
      2. Benefits to those Member Employees entitled thereto.
    4. In the event the funds available are determined by the University's actuary to be insufficient to provide the benefits in full, the benefits may be paid in full to all Member Employees entitled to benefits until the funds are exhausted, or may be apportioned among the various Member Employees in proportion to the actuarial value of each Member Employee's claim on an equitable basis as determined by the actuary.
    5. In the event of such termination, any other provisions notwithstanding, and at the sole discretion of the University, the University may elect to fund such outstanding claims by purchase of annuities or other method of assurance of payment from the funds in the plan. After termination, and after the payment or provision for payment of all outstanding claims, if funds remain in the plan, such funds shall be used for the benefit of employees as may be determined by the Board of Curators of the University.
  4. Miscellaneous
    1. Nothing contained in this plan shall be construed to give any member the right to be retained in the employ of the University, and employment may be terminated under the same terms and conditions as if there were no long-term disability plan.
    2. All benefits provided under this plan shall be payable upon the direction of the University. The fund shall be the sole source of all benefits provided under this plan and in no circumstances shall the University as to its other assets or funds, nor its officers, Curators and employees or administrators as to their individual assets, be liable or responsible therefor.
    3. Except as otherwise provided herein, any notice, request, instructions or other communications required to be given or made hereunder shall be made in writing and either personally delivered to the person to whom addressed, or if to the University, to its President or Secretary of the Board, as the case may be, or by deposit of the same in the United States Mail fully postpaid and duly addressed to such person.
    4. It shall be the duty of the Trustee hereunder:
      1. To hold, possess, manage and subject to the provisions of Section 540.010 P.5, to invest and to reinvest the funds, and
      2. To pay monies from the fund to or on order of the administrator provided for in the plan.
    5. The Trustee hereunder shall hold, possess, manage and control the property which from time to time constitutes the fund held by it hereunder, with full power and authority as follows:
      1. To lease for any period, sell, exchange, transfer and convey any of the trust property, real or personal, upon such terms and in such manner and for such prices or consideration as to it shall seem fit and proper; and no person dealing with the Trustee shall be bound to see to the application of the purchase money or to inquire into the validity, expediency, or propriety of any such sale or other disposition;
      2. To invest and reinvest all and every part of the trust estate in such manner and in such real estate, such stocks, common or preferred, bonds, debentures, mortgage notes, shares or participations in common trust funds (including any common trust fund or other special pooled fund managed by the Trustee) or investment trusts, and other property, either personal or real, as to the Trustee shall seem desirable investments, having particularly in view the preservation of the trust estate and the amount and regularity of the income to be derived therefrom, and such investments and reinvestments shall not be restricted to securities or property of the character required for investment by Trustees or which are legal for fiduciaries or for the investment of trust funds under any present or any future laws;
      3. To retain without liability for depreciation or loss any and all property, real or personal, tangible or intangible, which is delivered to and received by the Trustee to be held by it pursuant to the terms hereof so long as the Trustee, in its discretion, believes such property to be a desirable investment for this trust;
      4. In its absolute discretion, to keep such portion of the fund in cash or cash balances as it may deem advisable from time to time. Without limiting the generality of the foregoing, the Trustee shall keep such portion of the Fund in cash or cash balance as may be specified from time to time in a written request from the University to meet contemplated benefit payments;
      5. To commingle all or any part of the property at any time constituting the fund with any other property held by it in trust or for its own account for the purpose of investing to better advantage the property held hereunder;
      6. To exercise all rights and privileges with relation to any securities at any time as part of the fund, including but not by way of limitation, the right to carry the same in the registered name of a nominee of the Trustee, and to exercise conversion, subscription and voting rights, and to grant proxies, discretionary or otherwise;
      7. To enforce any right, obligation or claim in its absolute discretion, in general to protect in any way the interests of the fund, either before or after default and where it shall consider such action for the best interest of the fund, and in its absolute discretion to abstain from the enforcement of any right, obligation or claim;
      8. From time to time to employ suitable agents, assistants, and counsel and to pay their compensation from the fund and to pay from the fund all reasonable expenses incident to and arising out of the administration of the fund, provided, however, no money shall ever be paid from the fund to the Trustee as fees or compensation for any service rendered by it as Trustee in the control, management and administration of the Trust;
      9. Notwithstanding any other provision hereof, to employ on behalf of the Trustee one or more banks, trust companies or other investment counsel as Agent of the Trustee under an Agency Agreement providing that the bank, trust company, or other investment counsel shall hold, and have sole custody of, and invest such of the funds of the Trust placed under its care within the terms and conditions of the Agency Agreement, which Agency Agreement shall conform to the limitations of this plan. Under any such Agency Agreement, the Trustee may delegate to the bank, trust company or other investment counsel the power and responsibility for the selection, purchase and sale of securities for the Trust and such other powers and responsibilities imposed upon the Trustee hereunder, whether ministerial or discretionary, as the Trustee deems advisable or necessary, subject at all times to the full control and direction of the Trustee and the duty upon the Agent to make such reports of the exercise of all such powers and responsibilities as may be required by the Trustee;
      10. To execute all documents and papers and do and perform all acts which it may deem necessary or proper in the exercise of any and all of the powers of the Trustee provided hereunder upon such terms and conditions as to it may seem for the best interest of the fund.
    6. The Trustee shall not be liable for the making, retention or sale of any investment or reinvestment made by it as herein provided or for any loss to or diminution of the fund, or for its own negligence, willful misconduct or lack of good faith. The Trustee shall be fully protected in acting upon advice of competent counsel.
    7. As of June 30 and December 31 of each year, the Trustee shall prepare a report of the status of the fund, which report shall be presented to the Board and filed with the minutes of the meeting at which the report is presented. Such reports always shall be subject to inspection by any interested person at any reasonable time. Each such report shall contain the following information:
      1. The present composition of the fund with notations of changes therein since the date of the last report;
      2. A description of all reinvestments made since the date of the last report;
      3. An extension of the fair market value as of the date of the report of each item held in the trust;
      4. A statement of the amount and source of income received since the date of the last report;
      5. A statement of the distributions from the fund since the date of the last report, giving the date, amount to whom and for what reason paid;
      6. Such other data and information as the Board may from time to time reasonably require.
    8. The Board may at any time and from time to time modify or amend, in whole or in part, any or all of the provisions of this trust, provided that no such modification or amendment shall divert the fund or any part thereof from the purposes for which it is dedicated.
    9. In the event any provision of this Trust shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining provisions of this Trust, but shall be fully severable, and the Trust shall be construed and enforced as if said illegal or invalid provisions had never been inserted therein.
  5. Amendments

    This appendix represents the amendments to the UM LTD Plan which were made subsequent to June, 1995, which is the date delegation of authority (with limited parameters) by the Board of Curators was made to the President of UM.

    LTD-1

    Approved 10-15-96

    Section 540.010.A.5.

    Deletes language which limits the age of Eligible Employees under the Plan.

    LTD-2

    Approved 10-15-96

    Refers to entire Plan.

    Removes all terms which are gender-specific and incorporates gender-neutral terminology.

    LTD-3

    Approved effective 1-1-04

    Plan document amended in its entirety to replace plan document in existence on 12-31-03. This amended document applies to all disabilities occurring on or after 1-1-04 with the exception that Sections F.2 and 3 will also be applicable to individuals entitled to benefits based on a disability that occurred prior to 1-1-04.

    LTD - 4
    Approved effective 1-1-05
    Plan document amended reflect revised definition of benefit eligible employee.

    LTD - 5
    Approved effective 1-1-07
    Plan document amended to revise the definition of “employee” as necessary to recognize that individuals employed under a University of Missouri-Harry S. Truman Veterans Hospital joint agreement would be considered benefit eligible if combined appointments are at least 9 months in duration and 75% FTE.

    LTD - 6
    Approved effective 1-1-07
    Plan document amended to clarify the University of Missouri Long Term Disability Plan document language in regard to the timely filing of written proof of disability.


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