NAMED FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY Sample Clauses

The "Named Fiduciaries and Allocation of Responsibility" clause designates specific individuals or entities as fiduciaries and clearly outlines their respective duties and obligations under the agreement. This clause typically identifies who is responsible for managing plan assets, making administrative decisions, or overseeing compliance, and may divide these responsibilities among several parties. By explicitly assigning fiduciary roles and detailing their areas of responsibility, the clause ensures accountability, reduces ambiguity, and helps prevent disputes over who is liable for particular actions or decisions.
NAMED FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY. The Named Fiduciaries of this Plan are (1) the Employer and (2) the Plan Administrator. The Named Fiduciaries shall have only those powers, duties, responsibilities, and obligations as are specifically given them under the Plan. In general, the Employer shall have sole and absolute discretion for making the contributions provided for under Article III, and shall have sole and absolute discretion to appoint and remove the Trustee and the Plan Administrator; to formulate the Plan’s “funding policy and method;” and to amend or terminate, in whole or in part, the Plan. The Plan Administrator shall have sole and absolute discretion for the administration of the Plan, which responsibility includes the sole and absolute discretion to interpret the Plan and to determine eligibility for benefits, including the amount of benefits. The Trustee shall have sole and absolute discretion of management of the assets held under the Trust, except those assets, the management of which have been assigned to an Investment Manager, who shall have sole and absolute discretion for the management of the assets assigned to it, all as specifically provided herein. Each Named Fiduciary warrants that any directions given, information furnished, or action taken by it shall be in accordance with the provisions herein, authorizing or providing for such direction, information or action. Furthermore, each Named Fiduciary may rely upon any such direction, information or action of another Named Fiduciary as being proper under the provisions of the Plan, and is not required to inquire into the propriety of any such direction, information or action. It is intended under the provisions of the Plan that each Named Fiduciary shall be responsible for the proper exercise of its own powers, duties, responsibilities and obligations under the Plan. No Named Fiduciary shall guarantee the Trust Fund in any manner against investment loss or depreciation in asset value. Any person or group may serve in more than one Fiduciary capacity. In the furtherance of their responsibilities hereunder, the Named Fiduciaries shall be empowered with the sole discretion to resolve ambiguities, inconsistencies and omissions, which findings shall be binding, final and conclusive.
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NAMED FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY. The "Named Fiduciaries" of this Plan are (1) the Employer, (2) the Plan Administrator, (3) the Benefits Committee, (4) the Trustee and (5) any Investment Manager appointed hereunder. The Named Fiduciaries shall have only those specific powers, duties, responsibilities, and obligations as are specifically given them under this agreement. In general, the Employer shall have the sole responsibility for the administration of this agreement, which responsibility is specifically described in this agreement. The Benefits Committee shall have any responsibility for the administration of the Plan as is given to them by the Plan Administrator. The Trustee shall have the sole responsibility of management of the assets held under the Trust, except those assets, the management of which has been assigned to an Investment Manager, who shall be solely responsible for the management of the assets assigned to
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NAMED FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY. The “named Fiduciaries” of this Plan are (a) the Employers, (b) the Executive Board and
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NAMED FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY. The "named Fiduciaries" of this Plan are (1) the Employer, (2) the Administrator and (3) the Trustee. The named Fiduciaries shall have only those specific powers, duties, responsibilities, and obligations as are specifically given them under the Plan or as accepted by or assigned to them pursuant to any procedure provided under the Plan, including but not limited to any agreement allocating or delegating their responsibilities, the terms of which are incorporated herein by reference. In general, unless otherwise indicated herein or pursuant to such agreements, the Employer shall have the duties specified in Article II hereof, as the same may be allocated or delegated thereunder, including but not limited to the responsibility for making the contributions provided for under Section 4.1; and shall have the authority to appoint and remove the Trustee and the Administrator; to formulate the Plan's "funding policy and method"; and to amend or terminate, in whole or in part, the Plan. The Administrator shall have the responsibility for the administration of the Plan, including but not limited to the items specified at Article II of the Plan, as the same may be allocated or delegated thereunder. The Trustee
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Related to NAMED FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY

  • Allocation of Responsibility The City assumes no responsibility for the tax consequences of any VEBA contributions made by or on behalf of any member. Each union that elects to require VEBA contributions for the benefit of its members assumes sole responsibility for insuring that the VEBA complies with all applicable laws, including, without limitation, the Internal Revenue Code, and agrees to indemnify and hold the City harmless for any taxes, penalties and any other costs and expenses resulting from such contributions.

  • Allocation of Responsibilities The persons responsible for the Plan and the duties and responsibilities allocated to each are as follows:

  • Delegation of Responsibilities The Advisor is authorized to delegate any or all of its rights, duties and obligations under this Agreement to one or more sub-advisors, and may enter into agreements with sub-advisors, and may replace any such sub-advisors from time to time in its discretion, in accordance with the 1940 Act, the Advisers Act, and rules and regulations thereunder, as such statutes, rules and regulations are amended from time to time or are interpreted from time to time by the staff of the Securities and Exchange Commission ("SEC"), and if applicable, exemptive orders or similar relief granted by the SEC and upon receipt of approval of such sub-advisors by the Board of Trustees and by shareholders (unless any such approval is not required by such statutes, rules, regulations, interpretations, orders or similar relief).

  • Limitation of Responsibility Notwithstanding any other provisions ---------------------------- hereof, Committee Members shall be liable to the parties only for actions constituting bad faith, gross negligence or breach of an express provision of this Agreement (so long as such breach remains uncured after ten (10) days of receiving notice of the nature of such breach). In all other respects, Committee Members shall not be liable for negligence or mistakes of judgment.

  • Employer Responsibility The Employer accepts its responsibility to insure equal opportunity in all aspects of employment for all qualified persons regardless of race, creed, religion, color, national origin, age, disability, reliance on public assistance, sex, marital status, sexual orientation/affectional preference, or any other class or group distinction, as set forth by state or federal anti-discrimination laws, or in Board policy.