Authority or Discretion definition
Authority or Discretion means (i) the authority, control, or discretion with respect to the Plan or Trust which is identified or allocated to a Named Fiduciary under the terms of the Plan or Trust or a procedure in the Plan or Trust, or (ii) the exercise of such authority, control, or discretion by such Named Fiduciary.
Authority or Discretion means, with respect to a Fiduciary, (a) the authority or control or the exercise thereof, or (b) the discretion or the exercise thereof, which, in either case or in both cases, makes a person a Fiduciary.
Examples of Authority or Discretion in a sentence
The Administrative Committee acting as a Named Fiduciary, as provided in the Plan, has all of the Authority or Discretion of a Named Fiduciary as provided in the Plan.