Charge to individual Participant Accounts Clause Samples
The 'Charge to individual Participant Accounts' clause establishes that certain fees, costs, or expenses will be directly deducted from the accounts of individual participants within a plan or program. In practice, this means that administrative fees, investment management costs, or other specified charges are allocated to each participant's account rather than being paid from a general fund. This approach ensures that each participant bears a fair share of the plan's expenses, promoting transparency and equitable cost distribution among all participants.
Charge to individual Participant Accounts. The Plan Administrator, except as prohibited by Applicable Law, may charge a Participant's Account for any reasonable Plan expenses directly related to that Account, including, but not limited to the following categories of fees or expenses: distribution, loan, acceptance of rollover, QDRO, "lost Participant" search, account maintenance, brokerage accounts, investment management and benefit calculations. The Plan Administrator may charge a Participant's Account for the reasonable expenses incurred in connection with the maintenance of or a distribution from that Account even if the charging of such expenses would result in the elimination of the Participant's Account or in the Participant's not receiving an actual distribution. However, if the actual Account expenses exceed the Participant's Account Balance, the Plan Administrator will not charge the Participant outside of the Plan for such excess expenses.