Common use of DELEGATION OF ADMINISTRATIVE FUNCTIONS Clause in Contracts

DELEGATION OF ADMINISTRATIVE FUNCTIONS. Generally, the Employer, as Plan Administrator, has responsibility to administer the Plan. These responsibilities include compliance with Code §403(b) and other tax requirements. However, under AA Addendum A, the Employer may delegate such responsibilities to a third party, including a provider of an Annuity Contract or Custodial Account, provided such third party agrees to such delegation of responsibilities. An Employer may not allocate administrative responsibilities to Plan Participants.)