Acceptance of responsibility by designated Plan Administrator. If the Employer designates a Plan Administrator other than itself, the designated Plan Administrator must accept its responsibilities in writing. The designated Plan Administrator will serve in a manner and for the time period as agreed upon with the Employer. If more than one person has the responsibility of Plan Administrator, the group shall act by majority vote, but may designate specific persons to act on the Plan Administrator’s behalf.
Appears in 2 contracts
Samples: Defined Contribution Prototype Plan and Trust Agreement (Mercantile Bancorp, Inc.), Defined Contribution Plan and Trust (National Penn Bancshares Inc)
Acceptance of responsibility by designated Plan Administrator. If the Employer designates a an alternative Plan Administrator other than itselfAdministrator, the designated Plan Administrator must accept its responsibilities in writing. The Employer and the designated Plan Administrator jointly will serve in a manner and for determine the time period as agreed upon with for which the Employer. If more than one person has the responsibility of alternative Plan Administrator, the group shall act by majority vote, but may designate specific persons to act on the Plan Administrator’s behalfAdministrator will serve.
Appears in 2 contracts
Samples: Governmental Nonstandardized Defined Contribution Plan, Governmental 457(b) Plan Basic Plan Document
