Named Fiduciaries Clause Samples
The Named Fiduciaries clause designates specific individuals or entities responsible for managing and overseeing a plan, such as an employee benefit or retirement plan. This clause typically identifies who holds the authority to make key decisions, interpret plan provisions, and ensure compliance with applicable laws and regulations. By clearly assigning fiduciary duties, the clause helps prevent confusion over responsibilities and ensures accountability, thereby protecting the interests of plan participants and beneficiaries.
Named Fiduciaries. The Administrator shall be the fiduciary of the Plan.
Named Fiduciaries. The "Named Fiduciaries" within the meaning of the Act shall be the Administrator and the Trustee.
Named Fiduciaries. 8.1.1 The Administrator shall be a "named fiduciary" of the Plan, as that term is defined in ERISA Section 402(a)(2), with authority to control and manage the operation and administration of the Plan, other than authority to manage and control Plan assets. The Administrator shall also be the "administrator" and "plan administrator" with respect to the Plan, as those terms are defined in ERISA Section 3(16)(A) and in Code Section 414(g), respectively.
8.1.2 The Trustee, or Investment Committee if appointed by the Employer, shall be a "named fiduciary" of the Plan, as that term is defined in ERISA Section 402(a)(2), with authority to manage and control all Trust Fund assets and to select an Investment Manager or Investment Managers. If ▇▇▇▇▇▇▇ ▇▇▇▇▇ Trust Company is the Trustee, it shall be a nondiscretionary trustee; and Investment Committee shall be appointed and shall be the Employer, who may also remove such Investment Committee; and the Investment Committee shall be the "named fiduciary" with respect to Trust Fund assets. Anything in this Section 8.1.2 to the contrary notwithstanding, with respect to Participant-Directed Assets, the Participant or Beneficiary having the power to direct the investment of such assets shall be the "named fiduciary" with respect thereto.
8.1.3 The Trustee, or Investment Committee if appointed by the Employer, shall have the power to make and deal with any investment of the Trust Fund permitted in Section 10.4, except Participant-Directed Assets or assets for which an Investment Manager has such power, in any manner which it deems advisable and shall also:
(A) establish and carry out a funding policy and method consistent with the objectives of the Plan and the requirements of ERISA;
(B) have the power to select Annuity Contracts, if applicable;
(C) have the power to determine, if applicable, what investments specified in Section 10.4, including, without limitation, Qualified Employer Securities and regulated investment company shares, are available as Participant-Directed Assets; and
(D) have all the rights, powers, duties and obligations granted or imposed upon it elsewhere in the Plan.
Named Fiduciaries. The Plan Administrator and the Employer (if the Plan Administrator is not the Employer) shall be the Named Fiduciaries responsible to the extent of their powers and responsibilities assigned in the Plan for the control, management and administration of the Plan. The Plan Administrator, the Employer and the Trustee (other than ▇▇▇▇▇ ▇▇▇▇▇▇ Corporate Trust Company) shall be the Named Fiduciaries responsible to the extent of their respective powers and responsibilities assigned to them in the Trust Agreement for the safekeeping, control, management, investment and administration of the assets of the Fund. Any power or responsibility for the control, management or administration of the Plan or the Fund which is not expressly assigned to a Named Fiduciary under the Plan or the Trust Agreement, or with respect to which the proper assignment is in doubt, shall be deemed to have been assigned to the Employer as a Named Fiduciary. One Named Fiduciary shall have no responsibility to inquire into the acts and omissions of another Named Fiduciary in the exercise of powers or the discharge of responsibilities assigned to such other Named Fiduciary under the Plan or the Trust Agreement. Any person may serve in more than one fiduciary capacity under the Plan or the Trust Agreement and a fiduciary may be a Participant provided such individual otherwise satisfies the requirements of section 4. A Named Fiduciary, by written instrument filed by the Plan Administrator with the records of the Plan, may designate a person who is not a Named Fiduciary to carry out any of its responsibilities under the Plan or Trust Agreement, other than the responsibilities of the Trustee for the safekeeping, control, management, investment and administration of the assets of the Fund, except to the extent the Trustee's responsibility for investment decisions is delegated to the Employer, the Plan Administrator, or an investment manager.
Named Fiduciaries. The persons designated in or pursuant to Section 10.2.
Named Fiduciaries. (A) The Trustee (other ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Bank & Trust Co., FSB), or the Investment Committee, shall be a named investment fiduciary and a “named fiduciary” of the Plan, as that term is defined in ERISA Section 402(a)(2), with authority to manage and control all Trust Fund assets and to select an Investment Manager or Investment Managers.
(B) If ▇▇▇▇▇▇▇ ▇▇▇▇▇ Bank & Trust Co., FSB is the Trustee, it shall be a nondiscretionary trustee (and all investment authority shall be delegated to a named investment fiduciary). An Investment Committee shall be appointed (and may be removed) by the Primary Employer. The Investment Committee shall be the named investment fiduciary and a “named fiduciary” with respect to Trust Fund assets.
(C) Notwithstanding the foregoing to the contrary, with respect to Participant Directed Assets, the Participant or Beneficiary having the power to direct the investment of such assets shall be the named investment fiduciary and a “named fiduciary.”
Named Fiduciaries. The Named Fiduciaries under the Plan shall be the Company, the Administrative Committee and the Investment Committee, each of which shall have such powers, duties and authorities as shall be specified in the Plan and Trust Agreement and may delegate all or any part of such powers, duties and authorities as hereinafter provided. Any other person may be designated as a Named Fiduciary as provided in Section 9.2.
Named Fiduciaries. The Principal Sponsor, the Committee and the Trustee shall be named fiduciaries for the purpose of section 402(a) of ERISA.
Named Fiduciaries. 8.1.1 The Administrator shall be a "named fiduciary" of the Plan, as that term is defined in ERISA Section 402(a)(2), with authority to control and manage the operation and administration of the Plan, other than authority to manage and control Plan assets. The Administrator shall also be
Named Fiduciaries. The Plan Sponsor and the Plan Administrator are the named fiduciaries responsible for the control, management and administration of this Plan. Any power or responsibility for the control, management or administration of this Plan that is not expressly assigned to a named fiduciary under the Plan, or with respect to which the proper assignment is in doubt, will be deemed to have been assigned to the Plan Sponsor. One named fiduciary will have no responsibility to inquire into the acts and omissions of the other named fiduciary in exercising its powers or discharging its responsibilities under this Plan.
9.1 may employ one or more persons to render advice with respect to any responsibility assigned to the named fiduciary or allocated to that person under this Plan. Any person (including a member of a committee which is a Plan Administrator) may serve in more than one fiduciary capacity under this Plan, and a fiduciary may be a Participant if he or she otherwise satisfies the Plan's participation requirements.