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8F Consent 2009 0518
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8F Consent 2009 0518
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Last modified
5/15/2009 10:48:02 AM
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5/15/2009 10:48:00 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
5/18/2009
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_CC Agenda 2009 0518
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2009\Packet 2009 0518
Reso 2009-067
(Reference)
Path:
\City Clerk\City Council\Resolutions\2009
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3.10 Trust Administrator <br />The Trust Administrator's duties involve the performance of the following <br />services pursuant to the provisions of this Trust Agreement and the Agreement for <br />Administrative Services: <br />(a) Performing periodic accounting of each Agency Account and reconciling <br />such Agency Account balances with the Trust/Omnibus Account; <br />(b) Directing the Trustee to make distributions from the applicable Agency <br />Account to health care providers (or to the Employer for reimbursement of <br />payments made to health care providers) for post-employment health care and <br />welfare benefits; <br />(c) Allocating contributions, earnings and expenses to each Agency Account; <br />(d) Directing the Trustee to pay the fees of the Trust Administrator and to do <br />such other acts as shall be appropriate to carry out the intent of the Trust; <br />(e) Such other services as the Employer and the Trust Administrator <br />may agree in the Agreement for Administrative Services pursuant to Section 2.3. <br />The Trust Administrator shall be entitled to rely on, and shall be under no duty to <br />question, direction and/or data received from the Plan Administrator, or other <br />duly authorized entity, in order to perform its authorized duties under this trust <br />agreement. The Trust Administrator shall not have any duty to compute <br />contributions made to the Trust, determine or inquire whether contributions made <br />to the Trust by the Plan Administrator or other duly authorized entity are adequate <br />to meet an Employer's OPEB Obligation as may be determined under GASB <br />Statement Nos. 43 and 45 and any future GASB pronouncements; or determine or <br />inquire whether contributions made to the Trust are in compliance with the <br />Employer's policies and/or applicable collective bargaining agreements. The <br />Trust Administrator shall not be liable for nonperformance of duties if such <br />nonperformance is directly caused by erroneous, and/or late delivery of, directions <br />or data from the Plan Administrator, or other duly authorized entity. <br />3.11 Additional Trust Administrator Services <br />The Plan Administrator may at any time retain the Trust Administrator as its <br />agent to perform any act, keep any records or accounts and make any <br />computations which are required of the Employer or the' Plan Administrator by <br />this Trust Agreement or by the Employer's policies and/or applicable collective <br />bargaining agreements. The Trust Administrator shall be separately compensated <br />for such service and such services shall not be deemed to be contrary to the Trust <br />Agreement. <br />9 <br />NB I :657192.8 <br />
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