AgdaPkt 2002-12-09 - Laserfiche WebLink

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_ �. � �- 5� (e) such other documents as the Trustee may reasonably �equest. �� 2.5 Agency Trust � By adopting the PARS Trust Agreement, as provided in Section 2.4, a Member Agency shali be deemed to have adopted a legally separate and individual Agency Trust whose provisions are identical to those of the PARS Trust Agreement. The Assets of an Agency Trust shall be available only to pay benefits pursuant to the provisions of the Plan to participants and beneficiaries of the Member Agency entitled to receive benefits under the provisions of the Plan. The Agency Trust is created for the purpose of receiving contributions made to fund the Member Agency's Plan; accumulating, managing and investing those contributions; and providing benefits to active or retired participants of the Plan, their joint annuitants, or their beneficiaries. Each Agency Trust shall be used to fund only a single Plan maintained by the Member Agency. A Member Agency may establish additional Agency Trusts to fund the assets of additional Plans by executing one or more additional Adoption Agreement(s). 2.6 Assets of Agency Trust The assets of the Agency Trust shall consist of all contributions and transfers received by the Agency Trust on behalf of the Member Agency's Plan, together with the income and earnings from such contributions and transfers, and any increments accruing to them ("Assets"). All contributions or transfers shall be received by the Trustee in cash or in other property acceptable to the Trustee. The Trustee shall manage and administer the Assets of the Agency Trust without distinction befinreen principal and income. The Trustee and the Trust Administrator shall have no duty to compute any amount to be transferred or paid to the Agency Trust by the Member Agency and the Trustee and the Trust Administrator shall not be responsible for the collection of any contributions or transfers to the Agency Trust. 2.7 Commingling for Investment and Administration The Assets of more than one Agency Trusi may be commingled by the Trustee or Investment Fiduciary in one or more Omnibus Accounts for investment and administrative purposes, tc provide economies of scale and efficiency of administration to the Agenc�� "rus��. The responsibility for Plan level accounting within this Omnibus Account(s) shall be that of the Trust Administrator. 2.8 Trustee Accounting The Trustee shall be responsible only for maintaining records and maintaining accounts for the aggregate assets of tne PARS Trust Program. The s 2567_12 PEL _ _. _ ___ _ _ ___. _