2007 Benefits Enrollment Guide

8/14/2019 2007 Benefits Enrollment Guide

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2007 Benefits Enrollment Guide

Your Guide to Enrolling in the JPMorgan ChaseHealth & Income Protection Plans and theEmployee Stock Purchase Plan for 2007


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Important Benefits RemindersNewborns and Mothers Health Protection Act. In accordance with the Newborns and Mothers Health Protection Act,

group medical plans and health insurance issuers may not, under federal law, restrict benefits for any hospital length of

stay in connection with childbirth for the mother or newborn child to less than 48 hours following a normal delivery, or

to less than 96 hours following a Cesarean section. Further, the plan cannot require that any medical provider obtain

authorization from the plan or any insurance issuer for prescribing a length of stay not in excess of these periods.

Medical Plan Post-Mastectomy Benefits. All options under the JPMorgan Chase Medical Plan cover certain breast reconstructive

benefits in conjunction with a mastectomy for eligible participants. Coverage under the Medical Plan is available for:

Reconstruction of the breast on which the mastectomy was performed; Surgery and reconstruction for the other breast to produce a symmetrical appearance; and

Prosthesis and treatment of physical complications for all stages of mastectomy, including lymphedema.

This coverage is subject to all the terms of the Medical Plan option in which you participate, including relevant deductibles,

copayments, and coinsurance provisions. For more information, please contact your Medical Plan option administrator.

HIPAA Privacy Rights and Protected Health Information. Federal legislation under the Health Insurance Portability and

Accountability Act (HIPAA) legally requires employers to specifically communicate how certain protected health information

under employee and retiree health care plans may be used and disclosed, as well as how plan participants can get access to

their protected health information.

Accordingly, JPMorgan Chase will distribute once every three years a Privacy Notice of Protected Health Information Underthe JPMorgan Chase Health Care Plans to you that describes in detail how your personal health information may be used and

your rights with regard to this information. You can also access a copy of this notice on Company Home>HR & Personal>

Pay & Benefits> Library>Privacy Notice of Protected Health Information. (This notice was last distributed in April 2006.)

The JPMorgan Chase Benefits Program is available to most full-time and part-time U.S. dollar-paid, salaried employees who are regularly scheduled to work20 hours

or more a week and who are employed by JPMorgan Chase & Co. or one of its subsidiaries to the extent thatsuch subsidiary has adopted the JPMorgan Chase Benefits

Program. Thisinformation does not include all of the details contained in the applicable insurance contracts, plan documents, and trust agreements. If there isany

discrepancybetween thisinformation and the governing documents, the governing documents will control. JPMorgan Chase & Co. expressly reservesthe right to

amend, modify, reduce, change, or terminate itsbenefits and plansat any time. The JPMorgan Chase Benefits Program does not create a contract or guarantee of

employment between JPMorgan Chase and anyindividual. JPMorgan Chase oryou mayterminate the employment relationship without notice at any time.


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2007 Benefits Enrollment Guide

Whats Inside Page

2007 Benefits Enrollment 2

Enrollment Resources 3

How to Enroll 4How to Reach a Benefits Call Center Service Representative 6

PINs and PasswordsAccessing the Benefits Web Center and Benefits Call Center 6

Non-Smoker and Smoker Designations for 2007 6

Eligibility for the Health and Income Protection Plans and the 7Employee Stock Purchase Plan

Enrolling for Medical Benefits 10

Enrolling for Dental Benefits 14

Enrolling for Vision Benefits 17

Enrolling in the Health Care Spending Account, Child/Elder Care Spending Account, 19and Transportation Spending Accounts

Enrolling for Long-Term Disability (LTD) Insurance 21Enrolling for Supplemental Term Life Insurance 24

Enrolling for Accidental Death and Dismemberment (AD&D) Insurance 27

Enrolling for Long-Term Care Insurance 29

Enrolling for Group Legal Services 31

Enrolling in the Employee Stock Purchase Plan 33

JPMorgan Chase 2007 BE N E FI T S E N ROL L M E N T G U I D E

A B O U T TH IS G U IDE

This Benefits Enrollment Guide provides details about the Health and Income Protection

Plans and the Employee Stock Purchase Plan, their features, what you need to do to make

sure you have the coverage thats right for you, and how to make your benefit elections. It

also contains plan highlights, along with information youll need to enroll for coverage. Here,

you can quickly find:

Your options under each plan; Coverage categories; Information on your coverage costs; Things to consider when making your enrollment decisions; and Instructions for making your enrollment elections.


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Important Note forExpatriate Employees

If you are an expatriate

employee,special

Medical and Dental

options are available

to you because of

your internationalassignment. Certain

information outlined in

the Medical and Dental

sections of this Guide

maynot apply to you.

Please refer to Your Guide

to the JPMorgan Chase

Expatriate Benefit Plan

Optionsfor information

on your options. All

other sections of

this Guide apply to

U.S. home-basedexpatriate employees.

If you are a non-U.S.

home-based expatriate

employee assigned to

the United States, the

following sections of

this Guide apply to you:

Enrolling for Vision

Benefits; Enrolling in the

Health Care Spending

Account, Child/Elder Care

Spending Account, andTransportation Spending

Accounts; and Enrolling

for Group Legal Services.

With the exception

of health benefits

described in Your Guide

to the JPMorgan Chase

Expatriate Benefit Plan

Options, non-U.S. home-

based expatriate

employees retain their

home-base benefits

programs while onassignment. Please

contact your home

country Human

Resources Business

Partner or home country

accessHR for questions

regarding your other

benefits plans.

2007 Benefits EnrollmentYOUR 2007 BENEFITS COVERAGE

There are several changes to certain benefits plans, dependent eligibility, and coverage

provisions for 2007, as outlined in the 2007 Benefits Enrollment Bulletin. Please carefully

review the coverage listed on the Enroll in Your Benefits screen on the Benefits Web Center.

If you wish to make changes, enroll in new plans or options, want to participate in the Health

Care Spending Account and/or Child/Elder Care Spending Account for 2007, or need to updatethe smoker status for yourself or a covered dependent, you must make your elections during

your designated enrollment period (to learn which enrollment period applies to your work

state, please see below).

Please Note: If you have a qualified status change and/or a work status change between the

start of your enrollment period and December 31, 2006, that change may affect your eligibility

and costs for 2007 coverage.

A B O U T TH E 2007 B E N E F ITS E N R O LLME N T PE R IO D

JPMorgan Chase will host two separate enrollment periods for 2007 based on the state where

you work.

2 JPMorgan Chase 2007 BE N E FI T S E N ROL L M E N T G U I D E

Enrollment Period 1: October 213, 2006For the Following WorkStates:

AlabamaCaliforniaColoradoConnecticutDelaware

HawaiiIdahoIllinoisKansasMaine

MassachusettsMississippiNebraskaNevadaNew Jersey

New MexicoNew YorkOhioOregonPennsylvania

Rhode IslandSouth CarolinaSouth DakotaWashington StateWisconsin

Enrollment Period 2: October 1627, 2006For the Following WorkStates:(also includes all U.S. benefits-eligible expatriate employees, all U.S. benefits-eligible employees who do

not have corporate e-mail accounts, employees transitioning from the Bank of New York, former employeesreceiving severance benefits under the Severance Pay Plan, and all employees on a leave of absence)

ArizonaArkansasFloridaGeorgiaIndiana

IowaKentuckyLouisianaMarylandMichigan

MinnesotaMissouriMontanaNew HampshireNorth Carolina

OklahomaTennesseeTexasUtahVirginia

Washington, D.C.West Virginia


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onsumer Driven HealthOption/Health Savings

ccount Decision Tool

n addition to the Enrollment Web

ools listed at right, you can visit

etnas Consumer Driven Health

ption web site at

www.consumerdrivenoption.com

ia the Internet to access the HSA

alculation Tool and the Plan

election & Cost Estimator.

ou can also call Aetna at

888-238-6275.

Enrollment ResourcesMy Rewards @ Work is your single web source to access enrollment information and/or make

changes to your coverage for 2007 via the BenefitsWeb Center. (See page 4 for information on how

to access My Rewards @ Work.) The following summary highlights the additional enrollment

information available.

ENROLLMENT WEB TOOLSGo to: My Rewards @ Work > Benefits Web Center > Enrollment Decision Toolkit

Compare Your Medical and Dental Plan Options. Select up to three options at a time for

an at-a-glance comparison of 2007 provisions.

Find a Doctor in Your Plan. See if your doctor, dentist, local hospital, or other health care

provider participates in one of the JPMorgan Chase Medical Plan options, Dental Plan

options, or the Vision Plan.

Find Quality Health Care. Learn more about the quality of health care you may receive,

and review hospital ratings and/or patient safety data for certain medical procedures.

Estimate and Compare Medical Expenses by Option. Estimate your total annual medical

expenses (payroll deductions and out-of-pocket costs) under each JPMorgan Chase

Medical Plan option available to you.

Estimate Health Care Spending Account and/or Child/Elder Care Spending Account

Needs. Model your expenses for next year, so you can better estimate the amount

of before-tax dollars to contribute to these accounts in 2007.

Please Note: If you enroll in the Consumer Driven Health Option Plus Health Savings

Account and the Health Care Spending Account for 2007, your Health Care Spending

Account will be limited to dental and vision expenses only (see page 19 for more

information). You will not be able to use your Health Care Spending Account to pay formedical expenses, so please plan your contributions accordingly.

Estimate Your Life Insurance and Long-Term Disability Needs. Find out how much

coverage you need to ensure that you and your dependents have an appropriate level

of protection.

ENROLLMENT GUIDES

Go to: My Rewards @ Work > Enrollment Guides

Domestic Partner Coverage Guide describes the eligibility requirements and enrollment process

for domestic partner coverage under the Medical, Dental, Vision, Health Care Spending Account

(if a qualified tax dependent), Supplemental Term Life Insurance, Accidental Death andDismemberment (AD&D) Insurance, Long-Term Care Insurance, and Group Legal Services Plans.

Beneficiary Designation Form that you may complete in the event you would like

to make changes to your current designations under certain benefits plans.

Important Note: This form is provided for your convenienceyou are not required to change

your beneficiary designations.

You may also request a paper copy of any of these materials (as well as a Personalized Fact

Sheet detailing the options available to you for 2007 and their costs) by calling the Benefits Cal

Centerand speaking with a Service Representative. (Please see page 6 for contact information.)


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Authorization

By using the Benefits

Web Centerorthe Benefits

Call Center, you are

authorizing the company

to withhold from your pay

any contributions that may

be required under the

plans for 2007 and future

years. In the event the

plans should be further

changed or amended, and

subject to the terms and

conditions of such plans,

you agree to continue

under the changed or

amended plans.

Benefits Web Center

AvailabilityDuring each benefits

enrollment period, the

Benefits Web Centerwill

be available 24 hours a

day, seven days a week.

Butdontwait until the last

minute to make your

elections. By enrolling as

early as possible during

your designated

enrollment period,

youll generally avoid

delays associated with the

last-minute rush to make

elections. Youll also

ensure that you have

adequate time to review

your confirmed elections

in case you need to make

further changes.

Benefits Call CenterAvailability

Benefits Call CenterService Representatives

are available Monday

through Friday, from

8 a.m. to 7 p.m., Eastern

Time, except certain

U.S. holidays.

How to Enroll

Once your designated enrollment period begins, you can make changes to yourcoverage for 2007 by following these simple steps:

1

2

3

If You Dont Make Changes During Your Designated Enrollment Period

If you dont make changes to your coverage during your designated benefits enrollment

period, youll have the coverage and related costs listed on the Enroll in Your Benefits

screen on the Benefits Web Center. Please Note: Coverage changes during the year are

generally allowable only if you experience a qualified status change (such as marriage,

divorce, the birth or adoption of a child) or work status change (such as an adjustment to

your regularly scheduled work hours that results in a change to your eligibility status).

Changes must be made within 31 days of the qualifying event and must be consistent with

those allowable by the event. For more information on qualified status changes, please call

the Benefits Call Centerand speak with a Service Representative. For contact information,

please see page 6.

Review This Years Changes

There are changes to certain benefits plans, dependent eligibility, and coverage provisions for 2007.

For information on changes to the JPMorgan Chase Benefits Program for 2007, review the 2007 Benefits

Enrollment Bulletin available on Company Home > My Rewards@Work > Enrollment Guides.

Determine Whether You Need to Enroll or Make Changes

Review the coverage and related per-pay-period costs listed on the Enroll in Your Benefits screen

on the Benefits Web Center.

If you want to make new choices; verify, add, or delete dependents; participate in the Health Care

Spending Account and/or the Child/Elder Care Spending Account for 2007; update the smoker

status for yourself or a covered dependent; or indicate the eligibility status of any newly added

dependent children, go to Step 3.

Make Your Elections

You can make changes to your coverage for 2007 by visiting the Benefits Web Centerfrom

My Rewards @ Work during your designated enrollment period: From Work: Go to Company Home>My Rewards @ Work >Benefits Web Center

From Home: Go to www.MyRewardsAtWork.com via the Internet

The Benefits Web Centerwill show your benefits coverage and dependent information, and will guide you

through the steps required to make elections and/or coverage changes for 2007. If you dont have web

accessfrom workor home to make your elections, please call the Benefits Call Centerand speakwith a

Service Representative. Please Note:You willneed to use your Single Sign-On password or PIN to enroll.

Please see pages 56 for information about accessing the Benefits Web Centerand Benefits Call Center.


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How Smoker Is DefineUnder the JPMorgan Chase

Benefits Program, a person w

has smoked any type of tobac

product (e.g., cigarettes, ciga

or a pipe) regardless of the

frequency or location (this

includes daily, occasionally,

socially, at home only, etc.) in

the 12 months preceding any

January 1 is considered a

smoker. This definition doe

not pertain to users of tobacc

products that are not smokedsuch as chewing tobacco

or snuff.

As explained at left, you can

complete an approved smokin

cessation program and qualif

for lower, non-smoker rates.

How to Reach a Benefits Call CenterService RepresentativeIf you have questions regarding your benefits coverage and the 2007 annual benefits enrollment

process and/or you dont have web access from work or home to make elections, please call the

Benefits Call Centerthrough accessHR at 1-877-JPMChase (1-877-576-2427) or 1-212-552-5100

(GDP# 352-5100) if calling from outside the United States (Quick Path: Enter your Standard ID or

Social Security number; press1; enter your PIN; press1). Service Representatives are available

Monday through Friday, from 8 a.m. to 7 p.m. Eastern Time, except certain U.S. holidays. (The TDD

number for employees with a hearing impairment is 1-800-719-9980.)

PINs and PasswordsAccessing the Benefits WebCenter and Benefits Call Center

Youll be prompted to enter your Benefits Web Centerpassword or Benefits Call Centerpersonal

identification number (PIN) to help ensure the confidentiality of your enrollment elections.

My Rewards @ Work and Your Single Sign-On Password.You will access My Rewards @ Workusing the Single Sign-On intranet security process. If you havent set up your Single Sign-Onpassword already, please refer to the Single Sign-On instructions available on Company Home >

HR & Personal > Pay & Benefits > Library.

1-877-JPMChase and Your Personal Identification Number (PIN). If you have forgotten yourPIN, you can reset it yourself by calling 1-877-JPMChase (1-877-576-2427). When prompted to

enter your PIN, press0 followed by the# sign to begin the reset process and follow the

prompts. Once the reset process is complete, you can proceed through the telephone system.

Non-Smoker and Smoker Designations for 2007You will pay lower, non-smoker rates for the Medical Plan (employee, adult, and child coverage),

the Supplemental Term Life Insurance Plan (employee and adult coverage), and the Long-Term

Disability Plan (employee coverage) for 2007 if you and/or your covered dependents are non-

smokers, or if you and/or your covered dependents complete an approved smoking cessation

program by the November 29, 2006 deadline. (Please keep in mind that even if you completed

an approved smoking cessation program last fall, you must be smoke free for all 12 months of

2006 to qualify for lower, non-smoker rates in 2007. If you have not been smoke free for all

of 2006 according to the definition at right, you must complete an approved smoking cessation

program by November 29, 2006 to qualify for lower, non-smoker rates in 2007.) Smoking

cessation programs are available throughout the year. More information on smoking cessation

programs and requirements is available on Company Home > HR & Personal > Life & Well-Being >

Personal Health > Smoking Cessation Program.

Important Reminder: Please review the non-smoker/smoker status for yourself and your eligible

dependents on the Benefits Web Centerto ensure the default designations are accurate for 2007.

Please Note: If you were hired on or after October 1, 2006, you will be assigned non-smoker

rates for your and your dependents coverage even if you declare yourself a smoker, because

you may not have had an opportunity to complete a smoking cessation program in order to

qualify for the lower non-smoker rates.

Important NoRegardingQualified StaChanges

If you experience a qualifie

status change (such as

marriage, divorce, the birth

or adoption of a child) or awork status change (such a

an adjustment to your

regularly scheduled work

hours that results in a chan

to your eligibility status)

during your designated

enrollment period, your

eligibility for certain benefi

plans may be affected, and

you may be temporarily

unable to use the Benefits

Web Center. For more

information, please call the

Benefits Call Centerthroug

accessHR at 1-877-JPMChase

(1-877-576-2427) (Quick Pat

Enter your Standard ID or

Social Security number;

press1; enter yourPIN;

press1) and speak with a

Service Representative.


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mportant Terms:ull-Time Studentenerally, a full-time student is

efined as a dependent enrolled in an

ducational institution on a full-time

asis at the time services are received.

n educational institution is defined

s a school maintaining a regular

aculty, an established curriculum and

aving an organized student body in

ttendance. It includes high schools,

olleges, technical schools and similar

nstitutions, but not on-the-job

aining. JPMorgan Chase will use the

ducational institutions definition of a

ull-time student. During the summer

erm, when few students are enrolled,

overage will be based on enrollment

uring the previousterm, unless the

tudent has completed his or her full

ourse of studies.

hildrenChildren include natural children,

tepchildren, children under your

egal guardianship, your domestic

artners children, and legally

dopted children whom you couldaim as dependents on your income

ax return or for whom you provide at

east 50% of support. Children also

ncludes a child under age 18 who

ves with you and for whom adoption

roceedings have already begun and

hom you have the legal obligation

n whole or part) to support.

Eligibility for the Health and Income ProtectionPlans and the Employee Stock Purchase PlanGenerally, you are eligible to participate in the Health and Income Protection Plans and the

Employee Stock Purchase Plan if you are a full-time or part-time U.S. dollar-paid employee

regularly scheduled to work 20 hours or more per week who is employed by JPMorgan Chase or

one of its affiliates that has adopted the plans. You are considered a part-time employee if you

are regularly scheduled to work at least 20 but less than 40 hours per week.

Full-time employees are eligible to participate in the Health and Income Protection Plans on the

first day of the month following their date of hire. Part-time employees are eligible to participate

in the Health and Income Protection Plans on the first day of the month following a 90-day

waiting period after their date of hire.

To participate in the Employee Stock Purchase Plan, both full-time and part-time employees must

complete 90 days of service by December 31, 2006. For example, to participate in the Employee

Stock Purchase Plan for 2007, you must have been hired on or before September 30, 2006. Please

Note: Employees whose annual total cash compensation is $250,000 or more are not eligible to

participate in the plan. (Please see page 33 for additional information.)

E L I GI B L E D E PE N DE N TS

Under the Medical, Dental, and Vision Plans, Supplemental Term Life Insurance, Accidental

Death and Dismemberment (AD&D) Insurance, Long-Term Care Insurance, and Group Legal

Services Plans, your eligible dependents include:

Your spouse to whom youre legally married or a domestic partner, as explained on the

next page;

Your unmarried dependent children who are fully dependent on you for financial support

up to the end of the month in which they reach:

Age 19; or

Age 21 if they are not eligible for benefits through their own employer; or

Age 23 if they are a full-time student (please see the definition of full-time studentin the column at left).

However, you may continue coverage for an unmarried child who is not capable of supporting

himself or herself due to a mental or physical disability that began before the age limits listed

above and who is fully dependent on you for financial support.

Important Note: If you are currently covering a dependent child in 2006 affected by the

dependent age limits listed above, your dependent child will continue to be eligible in 2007.

These dependent age limits will not take effect until January 1, 2008 (or until the end of the

month in which he or she reaches age 23, if earlier) for any dependent child covered as of

December 31, 2006.

Please Note: There are special issues regarding covering a domestic partner or the child of

a domestic partner who is not your tax dependent. Please see the 2007 Domestic Partner

Coverage Guide for details. (See page 3 for instructions on how to access the Guide.)

(continued on next page)


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Colorado 25 where coverage ends at the end of the month

Florida 25 where coverage ends at the end of the year

Louisiana 24 where coverage ends at the end of the month; grandchildren can becovered up to the end of the month in which he or she reaches age 21

Massachusetts End of day in which a dependent turns age 21 or up to age 26(if he or she is a taxdependent)

New Jersey 30 where coverage ends at the end of the month

New Mexico 26 where coverage ends at the end of the month

Texas 25 where coverage ends at the end of the month

Utah 26 where coverage ends at the end of the month

Wisconsin Grandchildren under age 18 can be covered until the month

If you are living in: The maximum age is:


Eligible Tax Dependents

Under the Health Careand Child/Elder CareSpending Accounts

Your eligible tax dependents cinclude your spouse, a domespartner, and your dependentchildren, including the childre

of your domestic partner if theare your tax dependents.

You may continue to submit elighealth care expensesunder theHealth Care Spending Account (electto participate for2007) fordependent child who does not mthe eligibility requirements as las he or she remainsyour taxdependent for income tax purpo

Important Note onDependent EligibilityYou are responsible forunderstanding the dependeneligibility rules and abidingby them. Each year duringannual benefits enrollment,you must review your covereddependents and confirm theycontinue to meet the eligibilitrequirements. JPMorgan Chasreserves the right to conductdependent eligibility audits aany time. These audits helpensure that dependentswho have been certified forcoverage during the enrollmenprocess continue to meet planrules for eligibility. As a resulyou may be asked to providedocumentation of eligibility foyour covered dependents atanytime. It is important thatyou review both the dependeneligibility rules and the statusof your dependents on fileand make any necessaryadjustments during yourdesignated enrollment periodor within 31 days of a qualifiechange in status (e.g., birth oa child, gain or loss of othercoverage, etc.). The results ofany audit could affect any prioclaims that have been paid,as well as your dependents

eligibility for coverage underthe JPMorgan Chase BenefitsProgram, includingcontinuation coverage underthe Consolidated OmnibusBudget Reconciliation Act(COBRA). Employees areadvised that providing falseor inaccurate informationregarding dependents ordependent eligibility is aviolation of the firms policy aset out in the Code of ConductTo access the Code of Conducplease go to Company Home>About Us>Code of Conduct.

If JPMorgan Chase also employs your spouse/domestic partner or dependent child, he or she

can be covered as an employee or as your dependent, but not as both. If you want to cover your

eligible dependent children, you or your spouse/domestic partner (but not both of you) may

elect to provide this coverage.

Under the Child/Elder Care Spending Account, an eligible dependent is a child under age 13, or

any dependent who is physically or mentally incapable of self-care, whom you claim on your tax

return, and who spends at least eight hours a day in your home. (To claim someone as a

dependent, you need to provide at least 50% of that persons support.)

Please Note: Dependent eligibility can vary under the different plans and options offered through

the JPMorgan Chase Benefits Program. Its always a good idea to checkwith the carrier directly to

learn about any restrictions that may apply. Documentation of eligibility is not always required

when you enroll, but may be requested at any time by JPMorgan Chase or the claims administrator.

DE PE N DE N T AG E E X CE PTIO NS

The dependent eligibility guidelines described on page 7 may be superseded by state mandates

that govern minimum eligibility requirements within a particular state for the Medical Plans

HMO Option, the Dental Plans DHMO Option, and the Vision Plan. (Please see State Mandates

Governing Dependent Eligibility Rules below for the complete listing.)

State Mandates Governing Dependent Eligibility Rules

If you are enrolled in an HMO Option (as defined by JPMorgan Chase) in one of the following

states, the state mandates will govern the eligibility rules for dependents. Possible exceptions

to the JPMorgan Chase eligibility rules are noted below. Please check with your HMO option

administrator for more information.

Please Note: The dependent age exceptions listed above do not apply if you are enrolled in an EPO

option. In addition, certain state mandates may also apply to eligibility for the Dental Plan and the

Vision Plan. Please checkwith your Dental and/or Vision option administrator for more information.


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pecial Note foron-U.S.ome-Basedxpatriate Employeesyou are not a U.S. citizen

r resident (non-U.S.

xpatriate), U.S. tax laws

may not apply. However,

ou should consult youregal/tax advisor regarding

he implications of covering

domestic partner under the

aws of the foreign jurisdiction

n which you reside.

or more information on

overing a domestic partner,

lease review theDomestic

artner Coverage Guide.

See page 3 for instructions

n how to access the Guide.)

DO M E STIC PA RTN E R S

You may cover a domestic partner under the Medical, Dental, Vision, Group Legal Services,

Supplemental Term Life Insurance, AD&D Insurance, and Long-Term Care Insurance Plans.

At JPMorgan Chase, the definition of a domestic partner is as follows.

You and your domestic partner must:

Be age 18 or older;

Have lived together for at least six months and have a serious, committed relationship; Be financially interdependent;

Not be related to each other in a way that would prohibit legal marriage; and

Not be legally married to, or the domestic partner of, anyone else; or

Have registered as domestic partners pursuant to a domestic partnership ordinance or law

of a state or local government, or under the laws of a foreign jurisdiction.

Important Note:You must certify your request to cover a domestic partner before coverage can

begin. When enrolling a domestic partner for coverage under a particular Medical Plan option,

please be sure that the option you select allows coverage for a domestic partner. At this time,

the following Medical Plan options have limitations on domestic partner coverage:

Dean Health Plan So. WI (HMO) Option does not permit domestic partner coverage.

Kaiser Permanente HMO CO only permits same-sex domestic partner coverage.

The Health Savings Account component of the new Consumer Driven Health Option does

not apply to domestic partners unless you can claim your domestic partner and/or their

children as a dependent on your tax return in your state. Because domestic partners are not

automatically considered tax dependents in most states under the current tax code, expenses

incurred by a covered domestic partner and their children generally cannot be paid for with

the employees Health Savings Account.

The above list is subject to change; for additional information on covering a domestic partner,

please contact each Medical Plan option directly, call the Benefits Call Centerand speak with

a Service Representative, or review the Domestic Partner Coverage Guide. (See page 3 for

instructions on how to access this Guide.)


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Enrolling for Medical BenefitsThe JPMorgan Chase Medical Plan offers eligible employees several different types of

coverage so you can choose the most appropriate medical protection for yourself and your

eligible dependents.

T YP E O F COV ER AG E

You can choose your medical coverage from among the following options, depending on yourhome zip code:

Preferred Provider Organization (PPO)/Point-of-Service (POS) High Option;

Preferred Provider Organization (PPO)/Point-of-Service (POS) Low Option;

Health Maintenance Organization (HMO) Option;

Exclusive Provider Organization (EPO) Option;

Consumer Driven Health Option;*

Traditional Indemnity Option; or

No Coverage.

The Benefits Web Centerwill show what options are available in your area, and will show in

parentheses after each option name whether the option is considered an HMO or EPO.

C OV E R A G E C ATE G O R IE SJPMorgan Chase provides a flexible range of coverage levels. Your coverage level is based

on the dependents you enroll, as shown below:

Employee Only;

Employee Plus One Adult;

Employee Plus Child(ren); or

Employee Plus One Adult Plus Child(ren).

2007 CO S T O F C OV E R A GE

You pay for your cost of medical coverage with before-tax dollars. Your cost per pay period

depends on the level of your annual total cash compensation (excluding overtime), the medical

option you choose, the number and type of eligible dependents you cover, and your and/or your

covered dependents smoker status. Costs for 2007 are shown on the Enroll in Your Benefits

screen on the Benefits Web Center. (Please see page 12 for the definition of Annual Total Cash

Compensation.)* If you enroll in the Consumer Driven Health Option, you have the option to open a new Health Savings Account during the yearthrough

the Benefits Web Centerto help pay for your out-of-pocket medical expenses. There are restrictions on when and how you can make

Health Savings Account contributions. Please see the 2007 Benefits Enrollment Bulletinfor more information.


Important Note forExpatriate EmployeesIf you are an expatriate employ

a special Medical Plan option i

available to you because of you

international assignment. Cert

information outlined in this

section does not apply to you.

Please refer to Your Guide tothe JPMorgan Chase Expatriate

BenefitPlan Optionsfor

information on your

medical option.

At-a-GlanceComparisons

Through the Ben

Web Center, you

easilycompare specific feat

(e.g., costs, deductibles,

coinsurance, etc.) of up to th

Medical Plan options at one

Things toConsider

Do I want me

coverage thro

JPMorgan Chase, or do

I have adequate

coverage elsewhere?

Do I want an option with

higher deductibles or

copayments to reduce my

per-pay-period costs for

coverage (knowing I may

have higher out-of-pocke

costs when I use the plan

during the year)?

Would I ratherhave higher

period costsand spend les

out of pocket during the ye

Do I want the flexibility of

PPO/POS option to receiv

serviceseither in or out

of network?

Do I want the opportunity

contribute before-tax mon

to a Health Savings Accou

to help pay for future hea

care expenses?

What prescription drugs a

covered under the option

Im considering?

Are my current health car

providers associated with

option that Im considerin If I want to cover a domes

partner, does the option

chosen permit coverage?


13/40

JPMorgan Chase 2007 BE N E FI T S E N ROL L M E N T G U I D E 1

M E DI C AL O P TI O NS AT A GL A NC E

Provision

PPO/POS High Option PPO/POS Low Option HMO Option*and

EPO Option*

Consumer Driven Health Option TraditionalIndemnity

OptionIn-Network Out-of-Network In-Network Out-of-Network In-Network Out-of-Network

Annualdeductible

None $600employee,$1,200

employee +one,$1,200employee +children,$1,800employee +one + child(ren)

None $700employee,$1,400


None $2,700 for employee onlycoverage,$5,400 if you cover any

dependents(combined deductible forboth medical and prescriptiondrug benefits)

Please Note: Preventivemedical care is covered at100% with no deductible

$600employee,$1,200


Coinsurancepercentage

90% 70% 80% 60% 100% 80% 60% 80%

Office visitcoverage/copayments

$20copaymentfor physicianoffice visit,

$30copayment forspecialistoffice visit

70%coverage afterdeductible


$50 copaymentforspecialistoffice visit



$30copaymentfor specialistoffice visit(varies byprovider)




Hospitalcoverage/copayments

90% coverageafter $250copayment peradmission;waivedif readmittedfor sameconditionwithin 14 days


80% coverageafter $500copayment peradmission;waivedif readmittedfor sameconditionwithin 14 days


100%coverageafter $250copayment




Annualout-of-pocketmaximum(excludingannualdeductible andcopayments)

$1,200employee,$2,400employee +one,$2,400employee +children,$3,600employee +one + child(ren)




None $5,250 foremployee onlycoverage**,$10,500if you cover anydependents**

$10,500 foremployee onlycoverage**,$21,000if you cover anydependents**


Lifetimemaximum

Unlimited $2,000,000per individual

Unlimited $2,000,000per individual

Unlimited Unlimited $2,000,000per individual

$2,000,000per individual

All out-of-network percentages above generally apply to reasonable and customary charges. Since in-network charges for covered services have been negotiated with the health care

providers, reasonable and customary limitations generallydo not apply.

*Plan provisions may vary by health maintenance organization (HMO) and exclusive provider organization (EPO); these are typical provisions. Please Note: In some areas, an EPO may

be offered in addition to or in lieu of an HMO. EPOs work much like HMOs in that most in-network services are fully paid after a copayment, out-of-network services are generallynot

covered, and there are generally no claim forms to file. However, EPOs are not subject to state-mandated benefits or dependent age exceptions and prescription drug coverage is

provided by Caremarkthrough the Prescription Drug Plan.

**The annual out-of-pocket maximum forthe Consumer Driven Health Option includes the annual deductible.


14/40


Important Details About Your Coverage

Defining Annual Total Cash Compensation.Your Medical Plan contributions are determinedin part by your annual total cash compensation, which is defined as generally your basesalary plus any applicable job differential pay (e.g., shift pay) as of each August 1, plus anycash earnings from any incentive plans (e.g., annual bonus, commissions, draws, overrides,and special recognition payments or incentives) that are paid to or deferred by you for theprevious 12-month period ending each July 31. Overtime is not included. For purposes of

Medical Plan contributions, your annual total cash compensation is recalculated as of eachAugust 1 to take effect the following January 1 and will remain unchanged throughout theyear. For most employees hired on or after August 1, annual total cash compensation will beequal to base salary plus applicable job differentials. Please Note: Separate definitions mayapply to employees in certain sales positions who are paid on a draw-and-commission basis.If this situation applies to you, you will be notified.

Plan Changes. Please keep in mind that even if you continue in the same Medical Planoption youre in today, that option may have significant changes in its provisions.Please Note: Some options may be discontinued for 2007. Please see the 2007 BenefitsEnrollment Bulletin for more information. Be sure to click on the Compare Your MedicalOptions link in the Enrollment Decision Toolkit on the Benefits Web Center, as theremay be changes in benefit provisionssuch as copayments, coinsurance, and out-of-pocketmaximumsand costs that will apply for 2007.

Non-Smoker and Smoker Contributions for Coverage.Your and your dependents smokerstatus will affect your contributions under the Medical Plan. For more information onnon-smoker and smoker premiums under the Medical Plan, please see page 6.

Choosing an HMO or EPO Primary Care Physician. If you elect coverage under an HMO or EPOOption, you may be required to select a primary care physician (PCP). Remember:You canchoose a different PCP for yourself and each covered dependent. Use the EnrollmentDecision Toolkit on the Benefits Web Centerto see if your doctor participates in one of the

JPMorgan Chase Medical Plan options. See pages 56 for instructions on how to accessthe Benefits Web Center.

Providers Leaving Networks. When considering your options under the Medical Plan for2007, please remember that if your health care provider leaves a managed care network,it does not qualify as an event that allows you to change coverage during the year. Pleasecheck with your provider to ensure that he or she plans to continue participation in theoption of your choice for 2007.

Prescription Drug Coverage. All JPMorgan Chase medical coverage includes prescription drugcoverage. If you elect coverage under a Preferred Provider Organization (PPO)/Point-of-Service(POS) Option, the Traditional Indemnity Option, or an Exclusive Provider Organization (EPO)Option, prescription drug benefits will be administered by Caremark, and you will receivetwo separate ID cards (one for medical services and the other for prescription drug benefits).If you elect coverage under an HMO Option, prescription drug benefits will be administeredby the HMO, and you will only receive one ID card from your HMO. If you elect coverage underthe Consumer Driven Health Option, prescription drug benefits will be administered by Aetna,and you will only receive one ID card for medical services and prescription drug benefits.Please Note: If you enroll in the Consumer Driven Health Option, you must meet the annualdeductible before either medical or prescription drug benefits take effect (except forpreventive medical care).

Consumer Driven Health Option Coverage Categories. Unlike other Medical Plan options,there are only employee and family levels for annual deductibles and annual out-of-pocketmaximums. If you are covering any dependents, you will have to meet the entire familyannual deductible before the plan begins sharing a portion of your eligible expensesthrough coinsurance. This means that if you are covering dependents and only oneindividual in your family is incurring medical expenses, they will have to meet the entire$5,400 annual deductible before coinsurance begins. Please Note: Preventive medical careis covered at 100% with no deductible.

Consumer Driven Health Option Plus Health Savings Account. Because of the taxadvantages offered by Health Savings Accounts and the Health Care Spending Account



15/40


16/40

Important Note forExpatriate EmployeesIf you are an expatriate

employee, a special Dental

Plan option isavailable to yo

because of yourinternationa

assignment. The information

outlined in thissection does

not applyto you. Please refeto YourGuide to the

JPMorgan Chase Expatriate

Benefit Plan Options

for information on your

dental option.


Enrolling for Dental BenefitsThe JPMorgan Chase Dental Plan offers eligible employees different types of coverage so you

can choose the most appropriate dental protection for yourself and your eligible dependents.

T YP E O F CO VE RA GE

You can choose your dental coverage from among the following options, depending on your

home zip code: Preferred Dentist Program (PDP) Option;

Dental Maintenance Organization (DMO)/Dental Health Maintenance Organization (DHMO)

Option;

Traditional Indemnity Option; or

No Coverage.

C OV E R A GE C ATE G O RIE S

JPMorgan Chase provides a flexible range of coverage levels. Your coverage level is based on the

dependents you enroll, as shown below:

Employee Only;

Employee Plus One Adult;

Employee Plus Child(ren); or Employee Plus One Adult Plus Child(ren).

2007 C OS T O F C OV E R A GE

You pay for your cost of dental coverage with before-tax dollars. Your cost per pay period

depends on the dental option you choose, as well as on the number and type of eligible

dependents you cover. Costs for 2007 are shown on the Enroll in Your Benefits screen

on the Benefits Web Center.

Things toConsider

Do I want den

coverage thro

JPMorgan Chase, or do

I have adequate

coverage elsewhere?

Do I want the flexibility

of choosing network

providers for some service

and going outside the

network for others?

Do I want to be able to

receive care from any den

that I choose? Am I willing

pay more forthis option?

Do I want to receive all my

care only from providers

participating in the PDPor DMO/DHMO?

Do I want to reduce the

amount of paperwork

associated with submittin

claims and obtaining

reimbursements?

Is my current dentist

associated with the PDP

or DMO/DHMO that Im

considering?


17/40


D E NT AL O P TI O NS AT A G L AN C E

Provision

Preferred Dentist Program (PDP) OptionDental MaintenanceOrganization (DMO)

OptionAetna

Dental HealthMaintenance

Organization (DHMO)OptionCIGNA

TraditionalIndemnity OptionIn-Network Out-of-Network

Annual deductible

- Preventive

- Restorative(basic and major)

- Orthodontia

None

$25 individual,$75 family

$50 individual(lifetime)

None



None

None

None

None

None

None

None



Preventive(exams, cleanings,x-rays, sealants)(no deductible)

100% coverage 70% coverage 100% coverage 100% coverage* with$0 copayment

90% coverage

Basic restorative(fillings, extractions,root canal,

periodontal, oralsurgery, anesthesia)

80% coverage afterdeductible


80% coverage Approximately 80%coverage* withcopayments ranging

from $0 to $250


Major restorative(dentures, bridges,inlays, onlays, crowns)



60% coverage Approximately 60%coverage* withcopayments rangingfrom $15 to $325


Orthodontia

- Child (up to age 19)

- Adult


None


None

50% coverage

50% coverage

$2,400 copayment

$2,900 copayment


None

Maximum benefits

- Combined annualfor preventive andrestorative

- Lifetime fororthodontia

Maximum $1,500**

Maximum $2,500**

Maximum $1,500**

Maximum $2,000**

No maximum

Limited to onecourse of treatmentper lifetime

No maximum

24 months ofinterceptive and/orcomprehensivetreatment (casesbeyond 24 months oratypical cases requireadditional paymentby the patient)

Maximum $1,500

Maximum $2,000

All in-network percentagesabove apply to dentists negotiated fees. All other percentagesgenerally apply to reasonable and customary charges. Frequency limits may apply to certain service

*The CIGNA DHMO Option is based on a copaymentstructure per procedure. This coinsurance percentage reflects an approximation of copayments; the actual copayment will vary.

Please see the Health Plan Comparison Chart on the Benefits Web Center for more information. Go to: My Rewards @ Work>Benefits Web Center>Enrollment Decision Toolkit.

**Combined in-and out-of-network.


18/40


19/40


Enrolling for Vision BenefitsThe JPMorgan Chase Vision Plan helps eligible employees pay for covered vision expenses like

eye examinations, lenses (including contact lenses), and eyeglass frames. Coverage is offered

through EyeMed Vision Care (EyeMed). When you seek care from a vision care professional within

the EyeMed network, you receive a higher level of benefits and your out-of-pocket expenses are

lower than if you choose to seek care outside the network. EyeMed offers vision care coverage

through 43,000 vision care providers nationwide at 18,000 locations, including retail chains suchas LensCrafters, Pearle Vision, Target Optical, JCPenney Optical, and Sears Optical.

T YP E O F CO VE RA GE

You can choose your vision coverage from the following options:

Coverage; or

No Coverage.

C OV E R A G E C ATE G O R IE S

JPMorgan Chase provides a flexible range of coverage levels. Your coverage level is based on

the dependents you enroll, as shown below:

Employee Only;

Employee Plus One Adult; Employee Plus Child(ren); or

Employee Plus One Adult Plus Child(ren).

2007 CO S T O F C OV E R A GE

You pay for your cost of vision coverage with before-tax dollars. Your cost per pay period

depends on the number and type of eligible dependents you cover. Costs for 2007 are shown

on the Enroll in Your Benefits screen on the Benefits Web Center.

Things toConsider

When was the

last time you or

your family members had an

eye exam?

If routine eye exams are not

covered under your MedicalPlan option, you may want to

consider enrolling in the

Vision Plan for 2007 (even

if they are covered, you

may want to supplement

that coverage through the

Vision Plan).

Is the cost of coverage

under the Vision Plan less

expensive or more expensive

than the cost of exams,

eyeglasses, or contact

lenses you can purchase

on your own?

Could you use the Health

Care Spending Account to

pay any vision expenses not

covered under the plan?

Provision In-Network Out-of-Network

Deductible None None

Exams 100% after $10 copayment Generally reimbursed up to $35

Single vision lenses 100% after $10 copayment Generally reimbursed up to $25

Bifocal 100% after $10 copayment Generally reimbursed up to $40

Trifocal 100% after $10 copayment Generally reimbursed up to $55

Frames $130 allowance plus 20% offamount over the allowance

Generally reimbursed up to $45

Contact lenses- Medically necessary

- Conventional

- Disposable

100%

$120 allowance plus 15% offamount over the allowance

$120 allowance

Reimbursed up to $210



Laser vision correction

- LASIK or PRK 15% off retail price or 5% off promotional price; whicheveris lower

Not Covered

VISION PLAN AT A GLANCE


20/40



Using an EyeMed Provider. Each time you need services, you can see an EyeMed

in-network provider in the United States and receive higher benefits and services at

reduced rates, or see an out-of-network provider and be reimbursed up to specified

dollar amounts. When you use network providers, you generally will not need to

submit a claim form to be entitled to benefits. Your EyeMed provider will submit claims

on your behalf. Youll generally need to pay the copayment and any non-coveredexpenses at the time you receive services. For out-of-network services, you must pay

the provider at the time you receive services and then file a claim for reimbursement

from EyeMed (subject to plan limits). A provider search tool is available on the

Benefits Web Center. Once you reach the Health Insurance guide page under

Manage Your Health Care, look for the link to Find a Doctor in Your Vision Plan.

See pages 56 for instructions on how to access the Benefits Web Center.

Non-Covered Eyeglasses. EyeMed offers a 40% discount on additional pairs of

prescription glasses (this includes lenses and a frame). In addition, if you should

choose a frame valued at more than the plans allowance, you will receive 20% off

the balance over the plans allowance. For conventional contact lenses, you will

receive 15% off the balance over the plans allowance.

Enrolling a Domestic Partner. If you elect to enroll a domestic partner who was not

covered in 2006, you will be prompted to certify that your domestic partner meets the

eligibility rules as defined under the plan when you enroll. For more information on

covering a domestic partner, including instructions for certifying the tax dependent

status of certain covered dependents, please review the Domestic Partner Coverage

Guide. (See page 3 for instructions on how to access the Guide.)

When Coverage Begins. Vision coverage you elect during your designated enrollment

period takes effect January 1, 2007. If you do not make any changes during your

designated enrollment period, the coverage listed on the Enroll in Your Benefits

screen on the Benefits Web Centerwill take effect January 1, 2007. All new Vision Plan

participants for 2007 will receive an ID card from EyeMed. Please Note: These

coverages and related costs may differ from your current coverage on file due to plan

and dependent eligibility changes effective January 1, 2007. See the 2007 Benefits

Enrollment Bulletin for additional information.

For Additional Information. If you have questions about eligibility or enrolling in the

Vision Plan, please call the Benefits Call Centerthrough accessHR at 1-877-JPMChase

(1-877-576-2427) and speak with a Service Representative (Quick Path: Enter your

Standard ID or Social Security number; press1; enter your PIN; press1). If you

have questions about specific coverage provisions under the Vision Plan, please call

EyeMed directly at 1-866-723-0596.

Ready to Make Your Vision Elections?

Please see pages 46 of this Guide for instructions on how to enroll in the Vision Plan for 2007.

Remember, if you dont make any changes to the coverage listed on the Enroll in Your Benefits screen

on the Benefits Web Center, the coverages and costs shown will generally take effect January 1, 2007.


21/40


22/40

Child/Elder CareLimit for HighlyCompensatedEmployeesCertain IRS limits mayapply

to the Child/Elder Care

Spending Account for certain

highlycompensated

employees. In 2006, youwere considered a highly

compensated employee if

your W-2 compensation was

$100,000 or more in 2006.

The earnings for what

constitutes a highly

compensated employee may

change, and the contribution

limitin 2007 for affected

employees could be lower

than their elected amounts.

If you are affected, you will be

notified of the applicable2007 contribution limit early

in 2007 after the required IRS

comparisons are complete.

This IRS rule doesnot affect

the Health Care Spending

Accountcontribution

maximum of $8,000.



Dont Lose Out. Estimate your expenses carefully. Based on InternalRevenue Service (IRS)rules, you will forfeitany moneyleft in your Child/Elder Care Spending Account on December 31of the plan year and in your Health Care Spending Account on March 15 following the plan yearafter all eligible expenses have been reimbursed. You have until April 30 following the plan yearto submit claims for eligible expenses under both accounts.

Limited Reimbursement for Health Care Spending Account Expenses With a Health SavingsAccount. Because of the tax advantages offered by Health Savings Accounts and the HealthCare Spending Account when used for medical expenses, the government places certainrestrictions on these types of benefit plans when offered together. If you enroll in theConsumer Driven Health Option and contribute to the Health Savings Account and the HealthCare Spending Account for 2007, your Health Care Spending Account will be limited to dentaland vision expenses only. You will not be able to use your Health Care Spending Account topay for medical expenses, so please plan your contributions accordingly.

Eligible Expenses. Under current tax law, not all out-of-pocket expenses are eligible forreimbursement. For example, cosmetic surgery and health care premiums are not consideredeligible expenses under the Health Care Spending Account. Similarly, expenses under theChild/Elder Care Spending Account are not reimbursable unless you include the providersSocial Security or tax identification number (unless the provider is a non-profit organization).

Separate Accounts.You cannot mix money between the two accounts. Whatever youcontribute to the Health Care Spending Account must be used for health care expenses;whatever you contribute to the Child/Elder Care Spending Account must be used fordependent care expenses.

Federal Income Tax Credit. The Internal Revenue Code prevents you from taking the federaldependent care tax credit on your personal income tax form for expenses reimbursedthrough your Child/Elder Care Spending Account. You may wish to consult with your personalfinancial advisor to determine which is better given your personal financial situation.

When Participation Begins. The Health Care Spending Account and/or Child/Elder CareSpending Account elections you make during your designated enrollment period begin

January 1, 2007. For the Transportation Spending Accounts, you must make your elections,changes, or cancellations by the first of the month prior to the month in which you wishto participate.

For Additional Information. If you have questions about eligibility or enrolling in the HealthCare Spending Account and/or Child/Elder Care Spending Account, please call the BenefitsCall Centerthrough accessHR at 1-877-JPMChase (1-877-576-2427) and speak with a ServiceRepresentative (Quick Path: Enter your Standard ID or Social Security number; press1;enter your PIN; press1). If you have questions about specific plan provisions under

the Health Care and/or Child/Elder Care Spending Accounts, please call ADP directly at1-866-872-2427. If you have questions about the Transportation Spending Accounts,contact the Transportation Spending Accounts Call Center at 1-877-924-3967.

Readyto Make Your Spending Accounts Elections?

Please see pages 46 of this Guide for instructions on how to enroll in the Health Care Spending

Account and/or the Child/Elder Care Spending Account for 2007. Remember, if you want to participate

in the Health Care Spending Account and/or the Child/Elder Care Spending Account, you must make

your elections via the Benefits Web Centerduring your designated enrollment period. To enroll in

the Transit and/or Parking Account, visit the Transportation Spending Accounts Web Center on

My Rewards @ Work. Transactions are handled directly with WageWorks.

COORDINATING WITH YOUR SPOUSE

If your spouse has a Health Care Spending Account at JPMorgan Chase or at another employer,

by law you cannot claim reimbursement for any expenses your spouse has claimed.

ConvenientOnlineCalculator!

Estimate the

contributionsyou need to pa

for eligible Health Care Spen

Accountand/or Child/Elder

Care Spending Accountexpe

by accessing the Enrollmen

Decision Toolkit on the Bene

Web Center.


23/40


Things toConsider

Do I have

other financial

resources if I become

disabled and cannot work?

How much income will I

need if I become disabledand cannot work?

Is my spouses/domestic

partners income adequate

to pay normal expenses if I

become disabled?

Will I have access to

medical, dental, vision, life

insurance, and retirement

benefits if I do not elect

long-term disability

coverage through

JPMorgan Chase and

become disabled?

Enrolling for Long-Term Disability (LTD) InsuranceThe JPMorgan Chase Long-Term Disability (LTD) Plan offers you different levels of income

protection if you are disabled for more than 26 weeks. The LTD Plan can provide eligible

employees with a monthly benefit equal to a percentage of your benefits pay up to a maximum

benefits pay of $700,000. Your long-term disability benefit will be offset by benefits you receive

from other disability programs, such as Social Security or workers compensation. The Hartford

Life and Accident Insurance Company is the plans insurance carrier.

Important Note: If you elect No Coverage under the LTD Plan, you will not receive income

protection benefits beyond those provided under the JPMorgan Chase Short-Term Disability Leave

Policy and your participation in certain JPMorgan Chase benefits plans (such as Medical, Dental,

and Retirement) will end unless you return to work. (Please see The Additional Advantages of

Electing LTD Coverage below for more information on how elected LTD coverage can affect certain

other benefits.)

LTD OPTIONS

You can choose your long-term disability coverage from among the following options:

Replacement of 50% of benefits pay;

Replacement of 60% of benefits pay;

Replacement of 60% of benefits pay plus two-year average annual discretionary cash pay

(including annual bonus) paid or deferred (if eligible)* (also known as the 60% of Benefits Pay

Plus Bonus Option); or

No Coverage.

* Employees paid on a draw-and-commission basis are noteligible for this option.

2007 C O ST O F C OV E R A G E

You pay for LTD coverage with before-tax dollars, and as a result will generally be required to pay

applicable income taxes on any benefits you may eventually receive. Your cost per pay period

depends on your benefits pay, the level of coverage you choose, and your status as a non-smoke

or smoker. Please see the next page for the definition of benefits pay for the LTD Plan.

The Additional Advantages of Electing LTD Coverage

If you qualify to receive benefits under the JPMorgan Chase Long-Term Disability (LTD) Plan,

you will also continue to be eligible to receive company-sponsored benefits, such as

medical and dental (if enrolled), basic life insurance, and pay credits under the Retirement

Plan. Please carefully consider these additional advantages when deciding whether to elect

LTD coverage.


24/40



Defining Benefits Pay for the LTD Plan. Long-term disability coverage for 2007 is based

on the option you choose and your LTD benefits pay, which is generally your annual base

salary plus applicable job differential pay (e.g., shift pay). It does not include any annual

bonuses, overtime, special recognition, or other incentive awards you might receive. In

certain situations, your benefits pay may include other cash earnings (e.g., commission,

draws, and overrides) paid under certain non-annual incentive plans that providecompensation in lieu of base salary. For the 50% and 60% options, your benefits pay is

updated as changes occur throughout the year, subject to plan provisions. Under the 60%

of Benefits Pay Plus Bonus Option, your two-year average annual discretionary cash pay

(including annual bonus) paid or deferred, if eligible, remains fixed throughout the year

for purposes of the LTD Plan. However, any adjustments in your benefits pay will be made

throughout the year, as noted above. Under all options, the plan considers benefits pay

up to $700,000. Please Note: Separate definitions may apply to employees in certain

sales positions who are paid on a draw-and-commission basis. If this situation applies to

you, you will be notified.

Separate EOI Form. If you are electing coverage that will provide you with a higher

benefit than the coverage on the Enroll in Your Benefits screen on the Benefits Web

Center, or if you are electing coverage for the first time, you must complete an evidence

of insurability (EOI) form that you will receive from the insurance carrier after you enroll.

If you do not return this form within the specified time frame, or if it is returned but not

approved, the coverage you choose will not take effect. If you decrease or cancel coverage

and choose to increase coverage or enroll at a later date, all new coverage will be subject

to EOI requirements at the time you make the new election.

Insurance Carrier Approval. The insurance carrier must approve your elections for

increased coverage. If your elected coverage is not approved, then the level of coverage

shown on the Enroll in Your Benefits screen on the Benefits Web Centerwill be effective

for 2007.

Non-Smoker and Smoker Rates for Coverage.Your status as a non-smoker or smoker will

affect your contributions under the LTD Plan. For more information on non-smoker and

smoker premiums, please see page 6.

Ongoing Certification. If you become disabled, long-term disability benefits are subject

to ongoing certification by the insurance carrier.

Mental/Nervous Disorder. There is a two-year limit on benefits paid for a disability resulting

from a mental or nervous disorder. For other limitations and specific plan provisions, please

contact the insurance carrier directly at the number provided on page 23.



25/40


ConvenientOnlineCoverageEstimator!

Through the Benefits Web

Center, you can easily

determine the level of

long-term disability coverageyou need. Look for the

Estimate Your Long-Term

Disability Needs link on the

Insurance page.

Important Details About Your Coverage (continued)

Pre-Existing Condition Exclusion. If you were not covered under the LTD Plan previously

and you are electing long-term disability coverage for the first time or if you have been

participating in the plan for less than one year, long-term disability benefits will not be

paid if, during the first 12 months of your coverage, you become disabled as a result of a

condition for which you were diagnosed or received treatment during the six months

before coverage began. A similar rule applies if you are increasing coverage, except that

long-term disability benefits will be paid at the original (lower) coverage level you had

before making your 2007 elected increase.

When Coverage Begins. If you make no changes to your LTD coverage, the coverage

listed on the Enroll in Your Benefits screen on the Benefits Web Centerwill take effect

January 1, 2007. If you elect to reduce or discontinue your LTD coverage during your

designated enrollment period, your election also will take effect January 1, 2007. However,

if you increase your coverage, the increased coverage amount will become effective on

or after January 1, 2007 or the later of the date that the EOI form is approved by the

insurance carrier or the date you are actively at work. Payroll deductions will begin as

soon as administratively possible following approval. If you are not actively at work due

to illness or injury, you can still make elections for new coverage or changes in coverage

during your designated enrollment period. However, your new or increased coverage will

not become effective until the day after you return to active employment on or after

January 1, 2007 (or later if your coverage is subject to an approval of EOI). If you do not

return from an approved leave that began before January 1, 2007, your LTD benefit (if any)

will be at the previous level.

For Additional Information. If you have questions about eligibility or enrolling in the

LTD Plan, please call the Benefits Call Centerthrough accessHR at 1-877-JPMChase

(1-877-576-2427) and speak with a Service Representative (Quick Path: Enter your

Standard ID or Social Security number; press1; enter your PIN; press1). If you have

questions about specific coverage provisions under the LTD Plan, please call The Hartford

Life and Accident Insurance Company directly at 1-888-485-7353.

Ready to Make Your LTD Elections?

Please see pages 46 of this Guide for instructions on how to enroll in the LTD Plan for 2007. Remember,

if you dont make any changes to the coverage listed on the Enroll in Your Benefits screen on the

Benefits Web Center, the coverages and costs shown will generally take effect January 1, 2007.


26/40


Enrolling for Supplemental Term Life InsuranceIn addition to your company-paid basic life insurance equal to one times your benefits pay

(rounded up to the next $1,000) up to a maximum of $1 million (reduced benefits apply to

employees age 65 or older), the JPMorgan Chase Supplemental Term Life Insurance Plan, an

insurance policy issued by The Prudential Insurance Company of America, offers eligible

employees the option to purchase different types of additional coverage, so you can choose

the most appropriate insurance and survivor protection for your individual needs.

S U PP L E ME N TA L T E RM L I F E I N SU R AN C E O P TI O N S

You can choose your supplemental term life insurance from among the following options:

Employee Supplemental Term Life Insurance

Coverage in $10,000 increments up to 10 times your benefits pay (rounded up to the next

$10,000) to a maximum of $3 million (please see page 25 for the definition of benefits pay

for life insurance);

Dependent Supplemental Term Life Insurance

Spouse/domestic partner coverage in $10,000 increments up to a maximum of $300,000;

Dependent child coverage of $5,000 or $10,000 per child; or

No Coverage.

Please Note:You may choose supplemental term life insurance coverage for your spouse/

domestic partner even if you do not elect coverage for yourself. However, you must elect either

employee and/orspouse/domestic partner supplemental term life insurance coverage to elect

coverage for eligible children. To choose dependent supplemental term life insurance coverage

for your domestic partners children, your domestic partner must be enrolled in supplemental

coverage term life insurance.

2007 CO S T O F C OV E R A G E

You pay for your cost of supplemental term life insurance with after-tax dollars. Your cost per

pay period for employee and dependent supplemental term life insurance coverage generally

depends on the level of coverage you choose, your and your covered dependents age as of

January 1, 2007, and your and your covered dependents smoker status.

Things toConsider Is the compa

paid basic li

insurance benefit of one

times benefits pay sufficie

to meetmy needs?

How many others dependmy income?

What additional expense

would I have if myspous

domestic partner were to

Will my survivors have ot

adequate financial resou

aftermy death?


27/40



Defining Benefits Pay for Life Insurance. Benefits pay is generally your annual base

salary plus applicable job differential pay (e.g., shift pay). It does not include any

annual bonuses, overtime, special recognition, or other incentive awards you might

receive. In certain situations, your benefits pay may include other cash earnings (e.g.,

commission, draws, and overrides) paid under certain non-annual incentive plans that

provide compensation in lieu of base salary. Under the Supplemental Term LifeInsurance Plan, there will be no changes in these factors during the year for purposes

of this calculation. Please Note: Separate definitions may apply to employees in certain

sales positions who are paid on a draw-and-commission basis. If this situation applies

to you, you will be notified.

Defining Age for Life Insurance. Supplemental term life insurance for 2007 is based on

your age or your spouses/domestic partners age as of January 1, 2007.

Separate EOI Form. If you are enrolling for coverage for the first time or increasing your

employee coverage above the coverage shown on the Enroll in Your Benefits screen

on the Benefits Web Center, you must complete an evidence of insurability (EOI) form.

You must also complete an EOI form if you elect any increase in your spouses/domestic

partners coverage above the amount shown on the Enroll in Your Benefits screen on

the Benefits Web Center, or if you are electing coverage for your spouse/domestic

partner for the first time. If you increase your or your spouses/domestic partners

coverage, or if you are electing coverage for yourself and/or your spouse/domestic

partner for the first time, you will receive a letter from Prudential advising you to access

an online EOI form. Please use contact #0022454 when completing the form.

Insurance Carrier Approval. The insurance carrier must approve your EOI form for

first-time coverage for you or your spouse/domestic partner, or for any increases in

coverage. If you elect to increase your coverage and it is not approved, the level of

coverage as shown on the Enroll in Your Benefits screen on the Benefits Web Center

will be effective for 2007.

Non-Smoker and Smoker Rates for Coverage.Your and your covered dependents smoker

status will affect your contributions under the Supplemental Term Life Insurance Plan. For

more information on non-smoker and smoker premiums under the Supplemental Term

Life Insurance Plan, please see page 6.

Decreasing Coverage. If you cancel or decrease coverage for yourself or your

spouse/domestic partner and choose to increase coverage at a later date due to a

qualified status change or during an annual benefits enrollment period, all new

coverage will be subject to EOI requirements at the time you make the new election.



28/40


Important Details About Your Coverage (continued)

When Coverage Begins. If you make no changes to your supplemental term life insurance

coverage, the coverage listed on the Enroll in Your Benefits screen on the Benefits

Web Centerwill take effect January 1, 2007. If you elect to reduce or discontinue your

supplemental term life coverage during your designated enrollment period, your election

also will take effect January 1, 2007. However, if you increase your coverage, the

increased coverage amount will become effective on or after January 1, 2007, or the laterof the date that the EOI form is approved by the insurance carrier or the date you are

actively at work. Payroll deductions will begin as soon as administratively possible

following approval. If you are not actively at work due to illness or injury, you can still

make elections for new coverage or changes in coverage during your designated

enrollment period. However, your new or increased coverage will not become effective

until the day after you return to active employment on or after January 1, 2007 (or later

if your coverage is subject to an approval of EOI).

Enrolling a Domestic Partner. If you elect to enroll a domestic partner who was not covered

in 2006, you will be prompted to certify that your domestic partner meets the eligibility

rules as defined under the plan when you enroll. For more information on covering a

domestic partner, including instructions for certifying the tax dependent status of certaincovered dependents, please review the Domestic Partner Coverage Guide. (See page 3 for

instructions on how to access the Guide.)

Taking Coverage With You. If you leave JPMorgan Chase, you can continue up to

$1 million of your supplemental term life insurance on a direct-bill basis at higher group

rates. For more information, contact a Prudential Customer Service Representative as

instructed below.

For Additional Information. If you have any questions about eligibility or enrolling

in supplemental term life insurance, please call the Benefits Call Centerthrough

accessHR at 1-877-JPMChase (1-877-576-2427) and speak with a Service Representative

(Quick Path: Enter your Standard ID or Social Security number; press1; enter your PIN;

press1). If you have questions about specific coverage provisions under the

Supplemental Term Life Insurance Plan, please call Prudential directly at 1-800-778-3827.

Ready to Make Your Supplemental Term Life Insurance Elections?

Please see pages 46 of this Guide for instructions on how to enroll in the Supplemental Term Life

Insurance Plan for 2007. Remember, if you dont make any changes to the coverage listed on the

Enroll in Your Benefits screen on the Benefits Web Center, the coverages and costs shown will

generally take effect January 1, 2007.

ConvenientOnlineCoverageEstimator!

Through the Benefits Web C

you can easily determine t

level of supplemental term

insurance coverage you ne

Look for the Estimate You

Insurance Needs link on t

Insurance page.


29/40


Things toConsider

Do you or your

dependents

travel a lot or have high-risk

hobbies, like mountain

climbing or skydiving?

Does yourspouse/domestic partner have a

high-risk occupation?

Have you purchased

adequate levels of

supplemental term life

insurance for yourself

and your dependents?

Remember, AD&D insurance

offers extra financial protection

foryou and yourfamilyonlyin

the eventof an accident.

Enrolling for Accidental Death and Dismemberment(AD&D) InsuranceThe JPMorgan Chase Accidental Death and Dismemberment (AD&D) Insurance Plan offers

eligible employees additional insurance protection in the case of accidental death or certain

accidental injuries. The Prudential Insurance Company of America is the plans insurance carrier

A D& D IN S U R AN C E O PTIO NSYou can choose your AD&D coverage from among the following options:

Employee AD&D Insurance

Coverage in $10,000 increments up to 10 times your benefits pay for AD&D Insurance

(rounded up to the next $10,000) to a maximum of $3 million (please see page 28 for the

definition of benefits pay for AD&D Insurance);

Dependent AD&D Insurance

Spouse/domestic partner coverage in $10,000 increments up to a maximum of $600,000;

Dependent child coverage in $10,000 increments up to a maximum of $100,000 per child; or

No Coverage.

Please Note:You may choose AD&D insurance for your spouse/domestic partner evenif you do not elect coverage for yourself. However, you must elect either employee and/or

spouse/domestic partner AD&D coverage to elect coverage for your children. To choose

dependent AD&D insurance for your domestic partners children, your domestic partner

must be enrolled in AD&D insurance.

2007 CO S T O F C OV E R A G E

You pay for the cost of AD&D insurance with after-tax dollars. Your cost per pay period for

employee and dependent AD&D insurance depends on the levels of coverage you choose.


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Travel Assistance andEmergency EvacuationServices

If you elect AD&D coverage,

you will have access to the

comprehensive, worldwide

emergency assistance

services of Travel Assistanceand Emergency Evacuation

Services. This service

provides you and your

covered family members

with prompt assistance in

the event of an unexpected

medical emergency when

you are traveling.



When Coverage Begins. If you make no changes to your current AD&D insurance, the

coverage listed on the Enroll in Your Benefits screen on the Benefits Web Center

will take effect January 1, 2007. AD&D insurance that you elect during your designated

enrollment period takes effect January 1, 2007 as long as you are actively at work on

that date.

Defining Benefits Pay for AD&D Insurance. Benefits pay is generally your annual base

salary plus applicable job differential pay (e.g., shift pay). It does not include any

annual bonuses, overtime, special recognition, or other incentive awards you might

receive. In certain situations, your benefits pay may include other cash earnings

(e.g., commission, draws, and overrides) paid under certain non-annual incentive

plans that provide compensation in lieu of base salary. Under the AD&D Plan, there

will be no changes in these factors during the year for purposes of this calculation.

Please Note: Separate definitions may apply to employees in certain sales positions

who are paid on a draw-and-commission basis. If this situation applies to you, you will

be notified.

Enrolling a Domestic Partner. If you elect to enroll a domestic partner who was not covered

in 2006, you will be prompted to certify that your domestic partner meets the eligibility rules

as defined under the plan when you enroll. For more information on covering a domestic

partner, including instructions for certifying the tax dependent status of certain covered

dependents, please review the Domestic Partner Coverage Guide. (See page 3 for

instructions on how to access the Guide.)

Taking Coverage With You. If you leave JPMorgan Chase, you can elect to port up to

$1 million of your AD&D insurance on a direct-bill basis. For more information, contact

a Prudential Customer Service Representative as instructed below.

For Additional Information. If you have any questions about eligibility or enrolling in

the AD&D Insurance Plan, please call the Benefits Call Ce

2007 Benefits Enrollment Guide

Documents

Transcript of 2007 Benefits Enrollment Guide