Allocation of Responsibility Among Fiduciaries. The Employer, the Trustees, and the Plan Administrator will each have only those powers, duties, responsibilities and obligations as are specifically allocated to each of them under the Plan and the Trust Agreement.
Allocation of Responsibility Among Fiduciaries. The fiduciaries will have only those specific powers, duties, responsibilities, and obligations specifically delegated to them under this Plan. The Plan Sponsor, the Administrator, the Trustee, and any investment manager will each be a “named fiduciary” as defined in ERISA section 402(a)(2). The Administrator may delegate fiduciary duties (other than the Trustee’s duties) to persons other than named fiduciaries, and may approve any allocation of fiduciary duties among named fiduciaries, as provided in ERISA section 405(c). If there is more than one Trustee, they may enter into agreements among themselves with respect to the allocation of the Trustee’s responsibilities with the consent of the Administrator as provided in ERISA section 405(b). Notwithstanding the foregoing, ERISA will not apply to this Plan (except by analogy) if, when, and for so long as it qualifies as a Church Plan.
