Limited Responsibility. If there is a Custodian or a nondiscretionary Trustee under the Plan, then the Employer, in adopting this Plan, acknowledges and agrees: (a) No discretion over Trust assets. The nondiscretionary Trustee or Custodian does not have any discretion as to the investment or the re-investment of the Trust Fund and the nondiscretionary Trustee or Custodian is acting solely as a directed fiduciary as to the assets comprising the Trust Fund.
Appears in 3 contracts
Sources: 401(k) Plan Adoption Agreement (Knowles Corp), 401(k) Profit Sharing Plan (Nci Building Systems Inc), Defined Contribution Prototype and Volume Submitter Plan (Finisar Corp)
Limited Responsibility. If there is a Custodian or a nondiscretionary Trustee under the Plan, then the Employer, in adopting this Plan, acknowledges and agrees:
(a) No discretion over Trust assets. The nondiscretionary Trustee or Custodian does not have any discretion as to the investment or the re-investment re‑investment of the Trust Fund and the nondiscretionary Trustee or Custodian is acting solely as a directed fiduciary as to the assets comprising the Trust Fund.
Appears in 1 contract
Sources: Defined Contribution Prototype Plan and Trust Agreement (Bob Evans Farms Inc)