TIAA Group Life Insurance

Group Life Insurance

EMPLOYER: University Corporation for Atmospheric Research

POLICY NUMBER: E-1142

The benefits described in this certificate apply on or after February 1, 2002.

The Table of Contents on the next page will help you locate important items, such as the date you become eligible, the benefits and definitions of terms.

PLEASE READ THE ENTIRE CERTIFICATE. IT IS IMPORTANT.

This certificate details the main features of the insurance provided under the group policy issued to UCAR by Teachers Insurance and Annuity Association of America (TIAA). Subject to the terms and conditions of the group policy, you are insured for the benefits described in this certificate. Your insurance will take effect only if you are eligible for insurance and become and remain insured under the group policy.

This certificate replaces any other certificates that may have been previously issued to you describing this insurance.

TABLE OF CONTENTS

Part
1	BENEFITS AT A GLANCE
	ELIGIBILITY
	LIFE INSURANCE
2	ELIGIBILITY
	Who Is Eligible For Insurance
	When Will You Become Eligible
	If You Are Rehired
	How To Become Insured
	When Will You Become Insured
	The Cost For The Insurance
3	SCHEDULE OF BENEFIT AMOUNTS
	(A) The Amount of Life Insurance
	Changes in the Benefit Amounts
	(B) The Amount of Life Insurance That Can Be Accelerated
4	TYPES OF BENEFITS - LIFE INSURANCE BENEFITS
	(A) The Death Benefit
5	PAYMENT IN THE EVENT OF DEATH
	To Whom Benefits Are Payable
	Methods of Payment
6	WHEN INSURANCE CEASES
	CONVERSION OF LIFE INSURANCE
7	REQUESTING INFORMATION AND APPLYING FOR BENEFITS
	Requesting Information
	Applying for Benefits
	(A) Denied Application for Benefits
	(B) Asking for a Review
	(C) Delays
8	ACCELERATED DEATH BENEFIT
9	GENERAL PROVISIONS
	Misstatement of Age
	Assignment
	Overpayment of Benefits
	The Group Policy
	Service of Process
	Incontestability
10	DEFINITIONS
	Active Work or Actively At Work
	Annual Wage
	Total Disability or Totally Disabled
11	EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA)
	Statement of Your Rights Under the ERISA Law
	The Plan Administrator

PART 1: THE BENEFITS...AT A GLANCE

PART 1 is a brief outline of this plan. Please be sure to READ THE ENTIRE CERTIFICATE for complete details.

ELIGIBILITY

Eligible Class(es)

A full-time or part-time regular Employee, or an Employee with a term appointment of 6 months or more.

Work Test

Employees who work less than 8 hours a week are not eligible Employees.

Waiting Period

For Employees in an Eligible Class on the date the Group Policy takes effect:

For All Eligible Employees None

For Employees who enter an Eligible Class after the date the Group Policy takes effect:

For All Eligible Employees None

Except, if you were insured under the policy replaced by the group policy issued by TIAA and you are Totally Disabled on March 1, 1993 and your insurance is not being continued under the prior carrier's plan, you will become eligible for insurance on the date this policy takes effect.

LIFE INSURANCE

A Death Benefit ...will be paid to the Beneficiary. See "PART 3: SCHEDULE OF BENEFIT AMOUNTS, A. The Amount of Life Insurance", for the amount to be paid.
An Accelerated Death Benefit
...will be provided if you have a Terminal Illness. See "ACCELERATED DEATH BENEFIT" for complete information.
A Conversion Privilege...permits you to purchase an individual life insurance policy, without providing proof of good health, when your group life insurance ceases. See "PART 6: WHEN INSURANCE CEASES", for full information on converting your life insurance.

PART 2: ELIGIBILITY

To Be Eligible for Insurance

...you must be in an Eligible Class and meet any required Work Test shown in PART 1.

You Will Become Eligible for Insurance

...on:

(1) the date the Group Policy takes effect; or

(2) on the date you complete the required Waiting Period shown in PART 1 for your Eligible Class, if you enter the class after the group policy takes effect;

provided you are Actively at Work on the date you become eligible. If you are not Actively at Work on that date, you will become eligible on the date after you have completed 5 full consecutive days of Active Work.

If You Are Rehired

...within 1 year of the date employment ceased you will become eligible for insurance on:

(1) the date of your re-entry into an eligible class, if you were previously insured under the policy; or

(2) the date you become eligible for insurance as set forth in "You Will Become Eligible for Insurance" above, if you were not previously insured under the policy. All full months of service in an eligible class prior to the date employment ceased will be used in determining this date.

You must be Actively at Work on the date you are to become eligible. If you are not Actively at Work on that date, you will become eligible on the date after you have completed 5 full consecutive days of Active Work. If you are a rehired Employee, your most recent effective date of insurance will be used throughout this Certificate as the date you became insured.

To Become Insured...you must be an eligible Employee.

You Will Become Insured...on the date you become eligible.

The Cost For The Insurance...is paid by UCAR. The day before each plan anniversary (See "PART 11: ERISA") marks the end of each plan year. Generally near the end of the plan year, TIAA reviews the plan and the premiums being charged. If a premium change is to be made, TIAA will notify UCAR.

PART 3: SCHEDULE OF BENEFIT AMOUNTS

The amounts for which you are insured are as follows:


A.: The Amount of Life Insurance...will be equal to a multiple of your Annual Wage determined by your attained age as of such date as follows:

Attained Age	Amount of Life Insurance as a Multiple of your Annual Wage
Less than 70	1.50
70 but less than 75	.90
75 but less than 80	.60
80 or over	.45

The amount of Life Insurance will be raised to the next multiple of $1,000, if not already such a multiple. In no event will the amount of Life Insurance exceed $400,000.

Except, if you are an Employee who is Totally Disabled on March 1, 1993 and your insurance is not being continued under the prior carrier's plan, the amount of Life Insurance for you prior to your return to Active Work will be equal to the same amount of Life Insurance in effect for you on February 28, 1993 under the policy this policy replaces.

Changes in the Amounts For Which You Are Insured...will be made when your Annual Wage or attained age changes. The amounts will be adjusted automatically to reflect the change, on the effective date of the change, except as follows:

1.: If you are not Actively At Work on the effective date of the change in your Annual Wage, the adjustment will take effect on the date you have completed 5 full consecutive days of Active Work.
2.: If UCAR makes a retroactive change in your Annual Wage, no retroactive adjustment will be made in the amounts.


B.: The Amount of Life Insurance That Can Be Accelerated...can equal up to 100% of the amount of Life Insurance for which you are insured, subject to the other limits in the "ACCELERATED DEATH BENEFIT".

PART 4: TYPES OF BENEFITS - LIFE INSURANCE BENEFITS

The Death Benefit...will be equal to the amount set forth in "PART 3: SCHEDULE OF BENEFIT AMOUNTS, (A) The Amount of Life Insurance."

PART 5: PAYMENT IN THE EVENT OF DEATH

The Benefits Are Payable...to your Beneficiary. The Beneficiary is any person or institution whom you have named, (other than UCAR) in form satisfactory to TIAA, to receive the benefits at your death. You may designate different classes of Beneficiaries such as primary (first) and contingent (secondary). These classes set the order of payment. A class may contain more than one person. Benefits will be paid in equal shares to the then living persons in the class with the highest priority.

For example, if you die with your spouse named as primary Beneficiary and "children" as equal contingent Beneficiaries, your spouse would receive all of the benefits if he or she survived you. But if your spouse did not survive you, then your surviving children would receive equal shares of the benefits.

"Children" or "My Children"...are terms which may be used to name a class of or Beneficiaries, either primary or contingent. Unless you specify otherwise, these terms will mean: all children born of your marriage or marriages; and any children legally adopted by you. The term "children" also has the same inclusive meaning when used to name as Beneficiaries the children of: a spouse, a child, a brother or a sister.

If No Beneficiaries Are Named...or are alive at your death, the benefits will be paid to:

1.: the executor or administrator of your estate; or
2.: at TIAA's option, any one or more of these surviving relatives: a spouse, a child, a parent, a brother or a sister.

You May Change The Beneficiary...at any time by written notice in form satisfactory to TIAA, if the right to do so has not been assigned. Once recorded by or on behalf of TIAA, the change will take effect as of the date you signed the notice. Until the notice is recorded, TIAA will not be liable for any action taken in good faith contrary to directions contained in the notice. If you change the Beneficiary, any choice of method of payment for benefits payable under the group policy is revoked.

The Methods of Payment...for other than a one sum payment may be made by you or, after your death, by a Beneficiary other than your estate. When TIAA receives satisfactory proof of your death, the benefits provided under the group policy will be payable in one sum unless some other method of payment is (or was) requested in writing and approved by TIAA. Amounts and terms of other than one sum payments will be those normally offered by TIAA for group life insurance at the time of the request.

TIAA may, at its option, pay up to $5,000 of the benefits to any person who incurs expenses for your final illness or burial. Such payment will be proper and the Beneficiary will receive any remaining benefits.

PART 6: WHEN INSURANCE CEASES

Your Insurance Will Cease...on the earliest of the following events:

1.: the date the group policy terminates; or
2.: the date the group policy is changed to terminate insurance on the class of Employees to which you belong; or
3.: the date you stop Active Work in an eligible class. Except when employment terminates due to a reduction in staff, life insurance may be continued to the end of two months; or
4.: the date that ends the period for which you made the last required premium contribution, if any.

If you are no longer actively at work due to a leave of absence or other absence, ask your Plan Administrator when your insurance ceases. Your Plan Administrator is listed in "PART 11: ERISA".

CONVERSION OF LIFE INSURANCE

When Your Life Insurance Ceases...under the group policy, you may purchase an individual policy of life insurance without providing proof of good health as follows:

1.: When your employment terminates or you stop Active Work in an eligible class; the amount of Life Insurance you will be permitted to purchase under an individual policy may not be more than the amount of Life Insurance for which you were insured under the group policy when coverage ceased; or
2.: When the group policy terminates or is changed so that the class to which you belong is no longer eligible for insurance; the amount of Life Insurance you will be permitted to purchase under an individual policy may not be more than:

: (a) the amount of Life Insurance for which you were insured under the group policy when coverage ceased;

: less

: (b) the amount of any group life insurance for which you are then eligible or become eligible within 31 days after the date coverage ceased under the group policy.

When Your Life Insurance Reduces as Your Attained Age Changes...you may purchase an individual policy of life insurance as if employment had terminated on the date the reduction took effect. The amount of life insurance you will be permitted to purchase under an individual policy will be the amount by which Life Insurance under the group policy was reduced.

An Individual Policy...will be issued under these additional requirements and terms:

1.: You must make application for an individual policy and pay the first premium for that policy within 31 days after the date your insurance ceases under the group policy; and
2.: The individual policy may be on any one of the life insurance forms that TIAA then makes available, except one for term insurance, or one having disability or other supplementary benefits. At your option, however, single premium term insurance for one year may precede insurance under the individual policy; and
3.: The premium payable will be based on the rates in use by TIAA on the date the individual policy takes effect. The rates will be based on the policy chosen, and your attained age and class of risk; and
4.: The individual policy will take effect on the thirty-second day after the termination of your insurance under the group policy.

If You Die During The Conversion Period...TIAA will pay the amount of Life Insurance that could have been converted. Such amount will be paid to the Beneficiary named under the group policy, if you died before applying for an individual policy of life insurance. If, however, you died after applying for an individual policy, such amount will be paid to the Beneficiary named on the application for the individual policy.

PART 7: REQUESTING INFORMATION AND APPLYING FOR BENEFITS

Requesting Information: The Plan Administrator will answer any written question or request that you (or your beneficiary who is receiving benefits) have about enrollment, participation or other administrative matters. You will receive a written explanation within a reasonable period of time (not more than 90 days after the Plan Administrator receives your written question or request).

If your request is denied, the explanation will include the reasons for the denial, a description of any materials necessary to complete the request, and an explanation of why this material is necessary. And, it will tell you how to apply for a review if you are not satisfied with the explanation.

A.: Applying for Review: If your request is denied or you are not satisfied with the response, you may ask for a review. Write directly to the Plan Administrator within 60 days of receiving your answer. You or your duly authorized representative may examine any documents pertaining to your question or request. You are encouraged to submit issues and comments to the Plan Administrator. You will receive a decision in writing on the review within a reasonable time (not more than 60 days).
B.: Delays: If special circumstances require a delay on a request or question, the Plan Administrator will notify you. The notice will explain reasons for the delay and when you can expect a decision. If it is a delay on the initial request or question, the Plan Administrator will inform you not more than 90 days after the day the request was submitted and will send a decision not more than 90 days after the notice of the delay. If the delay is on a request for review, the Plan Administrator will notify you of the delay not more than 60 days after the request date and will send a decision not more than 60 days after the notice.
C.: Service of Legal Process: Service of legal process on any administrative matter should be directed to the Plan Administrator.

Applying for Benefits: An application for benefits and all documents to support the application, should be filed promptly. The Plan Administrator can supply the application and help you or your beneficiary complete it. The Plan Administrator will send the application for benefits to TIAA.

When an application for benefits and all supporting documents are received, TIAA will process the application promptly.

A.: Denied Application for Benefits: If TIAA denies an application for benefits, you or your beneficiary will receive a written denial within a reasonable period of time (not more than 90 days). TIAA will specify the reason(s) for the denial, the provision of the contract on which the denial is based, and how to ask for a review.

: When appropriate, TIAA's letter will also describe any material which might complete or perfect the application and will explain why the material is needed.
B.: Asking for a Review: You or your beneficiary may ask for a review of a denied application for benefits by writing directly to TIAA within 60 days of receiving the denial. You or your duly authorized representative may examine documents pertaining to your application. You are encouraged to submit issues and comments to TIAA. You or your beneficiary will receive a decision of the review within a reasonable period of time (not more than 60 days).
C.: Delays: If special circumstances require a delay in evaluating an application for benefits TIAA will notify you. The notice will explain the reason for the delay and when a decision can be expected.

: If it is a delay on an initial application, TIAA will notify you or your beneficiary not more than 90 days after the day the application was submitted, and will send a decision not more than 90 days after the notice of delay. If the delay is on a request for review of a denied application for benefits, TIAA will notify you or your beneficiary of the delay not more than 60 days after the request date and will send a decision not more than 60 days after the notice.

TIAA will comply with any shorter time limits which may be required by the laws or regulations of the state in which the group policy is issued.

Requests for Information About Your Insurance:

Please direct any written request for information about the TIAA Group Life Insurance Benefits policy, its terms, conditions, interpretations, application for benefits thereunder, review of an application, and the service of legal process to: Teachers Insurance and Annuity Association, 730 Third Avenue, New York, New York 10017-3206.

PART 8: ACCELERATED DEATH BENEFIT

The Accelerated Death Benefit...will be provided if you have a Terminal Illness. You can accelerate the payment of your Life Insurance in advance of your death, if TIAA receives satisfactory proof that you have a Terminal Illness.

Terminal Illness...is a state of health in which your life expectancy is twelve months or less.

The Amount of Life Insurance That Can Be Accelerated...can equal up to 100% of the amount of Life Insurance for which you are insured.

Except, if:

A.: the Schedule of Insurance provides for decreasing amounts of Life Insurance; and
B.: your amount of Life Insurance would have been reduced within twelve months from the date TIAA approves your accelerated payment;
C.: the amount of the Accelerated Death Benefit will be based on the reduced amount of Life Insurance.

: The minimum amount of Life Insurance that can be accelerated is the lesser of:

Payment Will Be Made...directly to you in one sum.

Payment Of The Accelerated Death Benefit...is subject to the following conditions:

A.: the group policy is in effect; and
B.: your Life Insurance is in effect; and
C.: you give to TIAA Notice of Claim and Proof of Terminal Illness as set forth below; and
D.: you are living at the time the Accelerated Death Benefit is payable; and
E.: you give to TIAA written consent from:

Limitations The Accelerated Death Benefit can be elected only once and is available only if you, freely and voluntarily choose to elect this benefit. Thus;

A.: if you are required to elect this benefit to satisfy the claims of any creditor(s) or to satisfy any judgements against you, you are not eligible for this benefit; or
B.: if you are required by any government agency to elect this benefit in order to apply for, receive, or maintain any government sponsored benefit, entitlement, or any other form of public assistance, you are not eligible for this benefit.

Notice of Claim and Proof of Terminal Illness TIAA must receive in writing any notice of claim and proof of Terminal Illness it requires. Proof of Terminal Illness must be certified by a physician, other than yourself, who is legally licensed to practice medicine and surgery. All proof must be satisfactory to TIAA.

Types of Proof TIAA may require as part of the proof of Terminal Illness; statements of treating physicians; copies of test reports or examinations; x-rays; hospital records; medical examinations by impartial specialists at TIAA's expense; and investigations conducted by TIAA or outside agencies.

Effects On Other Group Policy ProvisionsElection of the Accelerated Death Benefit will affect the following group policy provisions as set forth below.

A.: The Death Benefit: The amount of this benefit as set forth in PART 3 under "(A) The Amount of Life Insurance" will be reduced by the amount of the Accelerated Death Benefit.
B.: Conversion of Life Insurance: If insurance ceases, and you have accelerated the payment of any or all of your Life Insurance, the amount that can be converted will be based on the amount remaining in effect.
C.: Premium Payments: All future premiums will be waived for any amount of life insurance remaining in effect after you are paid an Accelerated Death Benefit.

Important Information

The receipt of Accelerated Death Benefits may affect eligibility for Medicaid or other government benefits or entitlements. In addition, receipt of Accelerated Death Benefits may be taxable. You should seek assistance from your personal tax advisor.

There is no separate premium cost for the Accelerated Death Benefit and no discount or lien associated with acceleration of the life insurance benefit.

PART 9: GENERAL PROVISIONS

Misstatement of Age:If your age has been misstated, TIAA will change the amount of benefits to that of the correct age. A premium change will also be made so that premiums will be paid for the correct age.

Assignment: You may assign your Life Insurance Benefit provided under the group policy. No assignment will bind TIAA unless it is in writing and until it is filed at TIAA's home office. Once recorded, it will take effect as of the date it was signed if TIAA receives it before the benefit is paid or any other action is taken by TIAA. TIAA is not responsible for whether any assignment is valid. You may not assign insurance as collateral security.

Overpayment of Benefits: Any overpayment of benefits must be repaid to TIAA. To recoup the amount overpaid, TIAA, at its option will:

1.: require that the amount be repaid to TIAA in one sum; or
2.: withhold the amount from any future benefits payable to you or your Beneficiary under the group policy; or
3.: take any legal action it deems necessary.

The Group Policy: TIAA and UCAR may agree to terminate or change any part of the group policy without your consent. Such termination or change will not affect Life Insurance that is continued under the following provisions, if any, on the date of such termination or change: "Waiver of Life Insurance Premium Benefit" and "Death During The Conversion Period."

Also, the group policy will terminate due to non-payment of premiums by UCAR in accordance with the terms of the group policy. And, TIAA may terminate the group policy as of any date set forth below by giving notice in writing which is mailed to UCAR at least ninety days before this date:

1.: The date of the group policy's anniversary; or
2.: Any premium due date, if on a prior premium due date the participation requirements set forth in the group policy have not been met.

Service of Process: TIAA will accept service of process in any action or suit against it on the group policy in any court of competent jurisdiction in the United States, Puerto Rico or Canada, if such service is properly made. TIAA will also accept such process sent to it by registered mail if the plaintiff is a resident of the state, district, territory, or province in which the action or suit is brought. This provision does not waive any of TIAA's rights, including the right to remove an action or a suit to another court.

Incontestability

After your insurance has been in force for 2 years, no statement made by you as to your insurability will be used to contest the validity of your insurance with respect to which the statement was made, nor unless the statement:

(1) is in writing; and

(2) is signed by you; and

(3) a copy is, or has been, given to you or to the Beneficiary.

PART 10: DEFINITIONS

Where Used In This Certificate, The Following Terms Have The Meaning Set Forth Below:

Active Work or Actively At Work...is performing for wages that are paid regularly by UCAR, the material and substantial duties of your occupation at the usual place of work or at any alternate place of work required by UCAR.

Annual Wage...is your basic annual wage payable by UCAR. It excludes overtime pay, bonuses, and other types of extra compensation.

Total Disability or Totally Disabled...is being unable due to sickness, bodily injury or pregnancy to perform any occupation for which you are suited by education, training or experience.

PART 11: EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA)

Statement of Your Rights Under ERISA

As a participant in this Life Insurance Plan, you are granted certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA). In accordance with ERISA, you are entitled to:

Receive Information About Your Plan and Benefits

1.: Examine, without charge, at the Plan Administrator's office and at other specified locations, such as worksites and union halls, all plan documents governing the plan, including insurance contracts and collective bargaining agreements, and a copy 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 Pension and Welfare Benefit Administration.
2.: Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the plan, including insurance contracts and collective bargaining agreements, and copies of the latest annual report (Form 5500 Series) and updated summary plan description. The Plan Administrator may make a reasonable charge for the copies.
3.: 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.

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 UCAR, your union, or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a welfare benefit or exercising your rights under ERISA.

Enforce Your Rights

If your claim for a welfare 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 plan documents or the latest annual report from the Plan Administrator 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 which 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 or a medical child support 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 Pension and Welfare Benefits Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Pension and Welfare Benefits 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 Pension and Welfare Benefits Administration.

EMPLOYER NUMBER: 84-0412668

PLAN NUMBER: 501

PLAN EFFECTIVE DATE: March 1, 1993

PLAN ANNIVERSARY: January 1

For information regarding the plan or service of legal process upon the plan, the Plan Administrator should be contacted.

THE PLAN ADMINISTRATOR IS:

University Corporation for Atmospheric Research
1850 Table Mesa Drive
Boulder, Colorado 80307
(303) 497-8715

FOR INFORMATION CONTACT:

University Corporation for Atmospheric Research
1850 Table Mesa Drive
Boulder,Colorado 80307-3000
(303) 497-8715

February 2002

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