AgdaPkt 2002-12-09 - Laserfiche WebLink

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�. I - 5 � � acquisition and disposition) of some or all of_ the Assets of the Agency Trust appointed by a Member Agency for its Agency Trust. 1.12 "Omnibus Account" shall mean an account, established for record keeping . purposes only, to commingle the Assets of the Agency Trust. 1.13 "Member Agency" shall mean a Califomia public agency that adopts the provisions of the PARS Trust Agreement. _ 1.14 "Plan" shall mean the tax qualified plan whose assets the Agency Trust holds. � 1.15 "Plan Administrator" shall mean the individual designated by position of employment at the Member Agency to act on its behalf in all matters relating to the Member Agency's participation in the PARS Trust Program and Agencq Trust. 1.16 "PARS Trust Agreement" or '�rust Agreement" shall mean the �ro forma Public Agency Retirement System trust document adopted by each Member Agency upon ex�cution of an Adoption Agreement, as amended from time to time. 1.17 "PARS Trust Program" shall mean the Public Agency Retirement System trust arrangement. 1.18 "Participant" shall mean individual participating in a Member Agency Plan or that individual's beneficiary. 1.19 "Trust Administrator' shall mean Phase II Systems. 1.20 "Trustee" shall mean the entity appointed as trustee of the PARS Trust that shall also serve as trustee of each Agency Trust established pursuant to the provisions of this trust agreement except where an Alternate Trustee has been appointed. Article II THE PARS TRUST PROGRAM 2.1 Multiple Employer Trust The PARS Trust Program is a multiple employer trust arrangement established to provide economies of scale and efficiency of administration to public agencies that adopt it to hold the assets of their Member Agency Plans maintained for the benefit of their employees. The PARS Trust Program consists of the Agency Trusts adopted and not terminated by Member Agencies. 4 2567_12 PEL . _ ___ _ __ . _.