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Administrative and ERISA Information
Q. What other information
about Savings Plan administration might I need to know?
A. This section provides
information about the administration of this plan and your rights under
law.
Basic Plan Information
Plan Name
The formal name of the Savings Plan is the ExxonMobil Savings Plan.
Plan Administrators
The Administrator-Benefits handles administration
of the Savings Plan. The Administrator-Finance does not handle
administration of the plan. The Administrator-Benefits is the
Manager-Global Benefits Design, Exxon Mobil Corporation. The Administrator-Finance
is the Manager of Benefits and Investments of Exxon Mobil Corporation.
The Administrator-Accounting is the Manager of Financial Reporting of
Exxon Mobil Corporation. You may
contact the
Administrator-Benefits and/or the Administrator-Finance as follows:
Administrator-Benefits
Exxon Mobil Corporation
P.O. Box 2283
Houston, TX 77252-2283
Administrator-Finance
Exxon Mobil Corporation
5959 Las Colinas Blvd.
Irving, TX 75039-2298
Administrator-Accounting
Exxon Mobil Corporation
5959 Las Colinas Blvd.
Irving, TX 75039-2298
If you have any questions about the material in this SPD
or require additional information, please contact the
Administrator-Benefits.
The Savings Trust is managed by the Savings Plan
Trustee. You
may contact the Trustee as follows:
Savings Plan Trustee
Exxon Mobil Corporation
5959 Las Colinas Blvd.
Irving, TX 75039-2298
Phone: 972-444-1000
The Trustee is the group of individuals who are the
incumbents in the following positions:
-
Vice President, Human Resources, Exxon Mobil
Corporation (Chair)
-
Vice President, Public Affairs, Exxon Mobil
Corporation
-
Vice President, ExxonMobil Upstream Business Services
-
Vice President, ExxonMobil Downstream Business
Services
-
Vice President, Business Services, ExxonMobil Chemical
Company
The Administrator-Benefits has designated the Savings Plan Administrator
to handle certain administrative matters, including
conducting initial claims reviews. The Savings Plan Administrator is the
Manager, Policies and Benefits Administration, Business Support Center
Argentina S.R.L. You may contact the Savings Plan Administrator
as follows:
Savings Plan Administrator
Exxon Mobil Corporation
P.O. Box 2283
Houston, TX 77252-2283
Type of Plan
The Savings Plan is an employee stock ownership plan (ESOP), as well as
a defined contribution pension plan under ERISA. As such, the Savings
Plan is subject to the reporting and disclosure, participation and vesting,
fiduciary responsibility, and administration and enforcement provisions
of ERISA. Because the Savings Plan is a defined contribution plan, it is not insured
by the Pension Benefit Guaranty Corporation (PBGC).
Plan Numbers
The Savings Plan is identified with government agencies under two numbers:
the Employer Identification Number (EIN), 13-5409005, and the Plan Number (PIN),
030.
Plan Year and Returns
The plan year is January 1 through December 31. The following chart provides
annual returns for the Savings Plan investment options for the three previous
years.
| Annual Returns of Savings Plan Investment Options |
| |
Annual Returns |
Periods Ending 12/31
|
2005 |
2006 |
2007 |
| Company Stock |
11.67% |
39.18% |
24.31% |
| Equity Units |
4.94% |
15.86% |
5.47% |
| Extended Market Units |
10.09% |
15.31% |
5.40% |
International Equity Units
|
13.92% |
26.66% |
11.55% |
Bond Units
|
2.44% |
4.38% |
7.13% |
| Balanced Fund Units |
7.34% |
15.58% |
7.51% |
| Common Assets |
3.78% |
5.12% |
5.30% |
Plan Sponsor and Participating Affiliates
The Savings Plan is sponsored by:
Exxon Mobil Corporation
5959 Las Colinas Blvd.
Irving, TX 75039-2298
All of Exxon Mobil Corporation's divisions and major U.S.
affiliates participate in the Savings Plan. The following affiliates participate
in the plan:
ERE Liaison, Inc.
Exxon Capital Corporation
Exxon China Inc.
Exxon Neftgas Project Services, Inc.
Exxon Services Venezuela, inc.
Exxon Ventures (CIS) Inc.
Exxon Yemen Inc.
ExxonMobil Asset Management Company
ExxonMobil Biomedical Sciences Inc.
ExxonMobil Chemical Interamerica Inc.
ExxonMobil Chemical Services Americas Inc.
ExxonMobil Development Company
ExxonMobil Gas Inc.
ExxonMobil Global Services Company
ExxonMobil Inter-America Inc.
ExxonMobil Investment Management Inc.
ExxonMobil Pipeline Company
ExxonMobil Research and Engineering
ExxonMobil Risk Management Services Inc.
ExxonMobil Upstream Research Company
Mytex Polymers Incorporated
Paxon Polymer Company, L.P. II
SeaRiver Maritime, Inc.
Advanced Elastomer Systems, L.P.
Benefit Claims Procedure
Filing a Claim
If you believe you are being denied a benefit, in whole or in part, to
which you are entitled under the Savings Plan, you may file a claim for
the benefit with the Savings Plan Administrator. All claims must be filed
in writing (emails are not acceptable).
The Savings Plan Administrator will review your claim and
respond to you within a reasonable period of time, normally within 90 days
after receiving your claim. If your claim is denied completely or
partially, you will receive written notice of the decision.
The notice will describe:
-
The specific reasons for the denial and the provisions
upon which they are based.
-
Any additional information or material that is needed
to validate the claim and the reason that information is required.
-
The process for requesting an appeal.
If the Savings Plan Administrator needs additional time to
decide on your claim because of special circumstances, you will be
notified within the original 90-day period. You will receive a response no
later than 180 days after your claim was received initially.
Filing a Mandatory Appeal
If your claim has been denied, in whole or in part, you or your designated
representative may appeal the decision to the Administrator-Benefits. Such
an appeal is required in order for you to preserve your right to bring a
civil action in court, as described below. Your written appeal must be
made within 60 days after you receive the initial notice of denial.
You should include the reasons why you believe the benefit should be paid
and information that supports, or is relevant to, your request. You may
also request reasonable access to, and copies of, information relevant to
your claim. If you do not file the appeal within 60 days, your appeal
will not be considered.
Within 60 days of receiving a request for review, the
Administrator-Benefits will make a decision. If additional time is needed,
you will be notified in writing of the special circumstances that require
an extension. In any event, you will receive a decision no later than 120
days after receipt of your request for review. The decision will be
written in plain language and will refer to the pertinent plan provisions
on which it is based. If your appeal is denied, you or your representative
may review any plan documents, records, or information reviewed in making
the determination.
Filing a Voluntary Appeal
A denied appeal may be reconsidered, but only if you have other
information that is relevant to your claim and was not considered in your
previous appeal. If this is the case, you or your designated
representative may send such information in writing to the
Administrator-Benefits within 30 days of the appeal denial.
Providing such information is strictly voluntary and is not necessary to
preserve your right to bring a civil action in court. Please include in
your voluntary appeal letter the reason(s) you believe the mandatory
appeal was improperly denied and include the new information that supports
and is relevant to your request. If you do not file a voluntary appeal
within 30 days, your voluntary appeal will not be considered.
You will be notified within 15 days of receipt if your
voluntary appeal is not accepted because no new pertinent information is
included or your voluntary appeal was not timely filed.
After reviewing the additional information submitted with
your voluntary appeal request, the Administrator-Benefits will make a
decision within 60 days. As with the mandatory benefit appeal, if your
voluntary appeal is denied, you will be informed of the pertinent plan
provisions on which the denial is based, and you or your representative
may review any plan documents, records, or information reviewed in making
the determination.
Your decision to submit a benefit dispute to a voluntary
appeal will not affect your rights to any other plan benefits.
Statute of Limitations
After you have received the response of the mandatory appeal, you may
bring a civil action in Federal Court under section 502(a) of ERISA. Any
lawsuit must be filed no later than one year from the date your mandatory
appeal was denied. This deadline is extended for any period during
which a voluntary appeal is pending.
Authority of Administrator-Benefits
The Administrator-Benefits (and those to whom the Administrator-Benefits
has delegated authority) has the discretionary authority to determine
eligibility for benefits, to construe and interpret the terms of the
Savings Plan in its application to any participant or beneficiary, and to
decide any and all claim appeals.
No Implied Promises
Nothing in this SPD says or implies that participation in the Savings
Plan is a guarantee of continued employment with the company.
Assignment of Benefits
You cannot use your Savings Plan account as collateral for a loan other
than a loan from the Savings Plan. In addition, your account cannot be
pledged to another person or organization in any way except as provided
by a Qualified Domestic Relations Order ("QDRO"). A QDRO is
a court order based on state domestic relations laws for child support,
alimony payments or marital property rights that may provide for payment
of a portion of your benefit to another person. You may request, without
charge, a copy of the QDRO procedures from a Customer Service Representative
via the STS.
If the Savings Plan Is Amended or Terminated
Although the Savings Plan is expected to be continued indefinitely, the
company may at any time and for any reason amend or terminate the Savings
Plan or any of its provisions. If material changes are made in the future,
you will be notified.
If the Savings Plan were terminated and no successor plan established,
you would be 100% vested immediately in your Savings Plan account, regardless
of your years of service.
Agent for Service of Legal Process
The Administrator-Benefits is the agent for service of legal process.
Your Rights Under ERISA
As a participant in the ExxonMobil Savings Plan, you have certain rights
and protections under the Employee Retirement Income Security Act of 1974
(ERISA). ERISA provides that as a plan participant, you shall be entitled
to:
Receive Information about Your Plan and Benefits
- Examine, without charge, at the Administrator
of Benefits' office and at other specified locations, such as worksites and union halls,
all documents governing the Savings Plan, including collective bargaining
agreements, and a copy of the latest annual report (Form 5500 Series)
filed by the Savings Plan with the U.S. Department of Labor and available
at the Public Disclosure Room of the Pension and Welfare Benefit Administration.
- Obtain, upon written request to the Savings Plan
Administrator, copies of documents governing the operation of the Savings
Plan, including collective bargaining agreements, and copies of the
latest annual report (Form 5500 Series) and updated summary plan description.
The administrator may require a reasonable charge for the copies.
- Receive a summary of the Savings Plan's annual financial
report. The Savings Plan Administrator is required by law to furnish
each participant with a copy of this summary annual report.
- Receive statements of your account balance.
Prudent Actions by Savings Plan Fiduciaries
In addition to creating rights for Savings Plan participants, ERISA imposes
duties upon the people who are responsible for the operation of the employee
benefit plan. The people who operate your Savings Plan, called "fiduciaries"
of the Savings Plan, have a duty to do so prudently and in the interest
of you and other Savings Plan participants and beneficiaries. No one,
including your employer, your union, or any other person, may fire you
or otherwise discriminate against you in any way to prevent you from obtaining
a pension benefit or exercising your rights under ERISA.
Enforce Your Rights
- If your claim for a benefit is denied or ignored,
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 schedules.
- Under ERISA, there are steps you can take to enforce
the above rights. For instance, if you request a copy of Savings Plan
documents or the latest summary annual report from the Savings 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 Savings 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 and an
appeal for benefits which are denied, in whole or in part,
you may file suit in a state or Federal court. In addition, if you disagree
with the Savings 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 Savings 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 Savings Plan, you should contact
a Customer Service Representative via the STS. If you have any questions
about this statement or about your rights under ERISA, or if you need
assistance in obtaining documents from the Savings 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.
The
Savings Plan Web site at http://xomsavings.ingplans.com
and the Savings Telephone
Service (STS) at 877-966-4015 are available for account information and
transactions.
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