Pension Administration Sample Clauses
The Pension Administration clause outlines the responsibilities and procedures for managing and overseeing pension plans within an organization or agreement. It typically specifies who is responsible for administering the plan, how contributions are handled, and the processes for enrolling participants or distributing benefits. For example, it may require regular reporting, compliance with legal requirements, and clear communication with plan members. The core function of this clause is to ensure that pension benefits are managed efficiently and in accordance with applicable laws, thereby protecting the interests of both the employer and the employees.
Pension Administration. It is agreed that normal administrative matters such as changing financial advisors are not considered by the Parties to be changes to the Pension Plan within the meaning of Article 50, subject to any understanding, agreement, or decision to the contrary with the PWU.
Pension Administration. Parties agree that the Town may employ or retain any administrator, ▇▇▇▇ ▇▇▇▇▇▇▇ or otherwise for purposes of investing, assisting the Town in determining and altering investment strategies from time to time and otherwise administering the plan and its funds, provided however that benefits owed present and future retirees shall not be affected by any change in administrator, investments or investment strategies, as the parties intend this to be a defined benefit plan.