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.”
Appears in 3 contracts
Sources: Defined Contribution Plan and Trust (Comstock Resources Inc), Defined Contribution Plan and Trust (Triad Guaranty Inc), 401(k) Profit Sharing Plan Adoption Agreement (Atlas America Inc)