HomeMy WebLinkAbout1409 .
' '7.•N.
eon 230 PlGi 06?
directors of the Employer will function as the Administrator.
2.3 ALLOCATION AND DELEGATION OF RESPONSIBILITIES. If more
than one person is appointe as Administrator, the responsibilities
of each Administrator shall be specified by the Employer and
accepted in writing by each Administrator. In the event that no
such delegation is made by the Employer, the Administrators may
allocate the responsbilities among themselves, in which event
the Administrators shall notify the Employer and the Trustee
in writing of such action and specify the responsbilities of
each Administrator. The Trustee thereafter shall accept and rely
upon any documents executed by the appropriate Administrator until
such time as the Employer or the Administrators file with the
Trustee a written revocation of such designation.
2.4 POWERS, DUTIES AND RESPONSIBILITIES. The primary
responsibility of the Administrator is to administer the Plan
for the exclusive benefit of the Participants and their Beneficiaries,
subject to the specific terms of the Plan. The Administrator shall
administer the Plan in accordance with-its terms and shall have
the power to determine all questions arising in connection with
the administration, interpretation, and application of the Plan.
Except as otherwise specifically provided herein, any such determi-
nation by the Administrator shall be conclusive and binding upon
all persons. The Administrator may correct any defect, supply
any information, or reconcile any inconsistency in such manner '
and to such extent as shall be deemed necessary or advisable to
carry out the purpose of this Agreement; provided, however, that
any interpretation or construction shall be done in a nondiscrimina-
tory manner and shall be consistent with the intent that the Plan
shall continue to be deemed a qualified plan under the terms of
Section 401(a) of the Code as amended from time to time, and shall
comply with the terms of the Act and all regulations issued pursuant
thereto. The Administrator shall have all powers necessary or
appropriate to accomplish his duties under this Plan.
The Administrator shall be charged with the duties of the general
administration of the Plan, including, but not limited to, the
s following:
I
(a) to determine all questions relating to the
eligibility of Employees to participate or remain a
Participant hereunder;
(b) to compute, certify, and direct the Trustee
with respect to the amount and the kind of benefits
to which any Participant shall be entitled hereunder;
(c) to authorize and direct the Trustee with
respect to all nondiscretionary or otherwise directed
disbursements from the Trust;
(d) to maintain all necessary records for the
~ administration of the Plan;
e
(e) to interpret the provisions of the Plan and
to make and publish such rules for regulation of the
Plan as are consistent with the terms hereof;
(f) to determine the size and type of any Contract
to be purchased from any insurer and to designate the
_ 8 _ ~ . B~!}K 315 PAcE1407
230 067