Third Party Settlements

A Participant may be entitled to a Third Party settlement if their disability is caused by injuries sustained in a motor vehicle accident or another type of accident caused by the fault of some other person.

It shall be the duty and obligation of a Participant whose disability is caused by or attributable to a Third Party, to do everything-necessary to effect a Settlement so that payment may be made to the Trustees out of the Net Compensation.

The LTD Plan does not provide for disability benefits during any period of disability for which a third party is responsible. However, the LTD Trustees provide disability loan payments to Participants pending settlement of the action against the third party responsible.

Participants who receive a Third Party Settlement are required to provide notice to the LTD Plan along with the details once the Settlement is reached. This information is required in order to perform the necessary calculations to determine the amount of the Plan debt.

Participants are required to reimburse the LTD Plan the Plan debt (disability loan) immediately upon receipt of notification of the amount owing.

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