Hi Mahadev,
Please verify below options.
*) Can you please verify whether you are able to access http://ModelTSVServ001.ad.tiaa-cref.org:8237/party-request-v2 this service from browser. If yes, check the proxy details on browser. If the request is passing throw the proxy, you need to configure proxy details in Devtest local.properties file.
*) If there is no proxy configured in browser options, from command prompt check the connectivity with the command
telnet <hostname> <port_number> ex: telnet ModelTSVServ001.ad.tiaa-cref.org 8237.
If it returns connection timeout error, check with your network admin team about connection failure.
*) Try connecting to this webservice request using ip address.
Thanks & Regards
Srikanth Gajawada