2017 011 Ordinance - Laserfiche WebLink

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7.02. Provision for third-party administrative service providers The Plan Administrator may employ. the services of such persons as it may deem necessary or desirable in connection with the operation of the Plan. The Plan Administrator, the Employer (and any person to whom it may delegate any duty or power in connection.with the administration of the Plan), and all persons connected therewith may rely upon all tables, valuations, certificates, reports and opinions furnished by any duly appointed actuary, accountant, (including Employees who are actuaries or accountants), consultant, third party administration service provider, legal• counsel, or other specialist, and they shall be fully protected in respect to any action taken or permitted in good faith in reliance thereon. All actions so taken or permitted shall be conclusive . and binding as to all persons. 7.03. Fiduciary Liability To the extent permitted by law, neither the Plan Administrator nor any other person shall incur any liability for any acts or for failure to act except for his own willful misconduct or willful breach of this Plan. 7.04. Compensation of Plan Administrator The Plan Administrator shall serve without compensation for services rendered in such capacity, but all reasonable expenses incurred in the performance of his duties shall be paid by the Employer. 7.05. Bonding Unless required by any Federal or State law, the Plan Administrator shall not be required to give any bond or other security in any jurisdiction in connection with the administration,of this Plan. 7.06. Payment of administrative expenses All reasonable expenses incurred in administering the Plan, including but not limited to administrative fees and expenses owing to any third party administrative service provider, actuary, consultant, accountant, attorney,. specialist, or other person or organization that may be employed by the Plan Administrator in connection with the administration thereof, shall be paid by the Employer, provided, however that each Participant shall bear the monthly cost (if any) charged by a third party administrator for maintenance of his Benefit Account (if applicable) unless otherwise paid by the Employer. 7.07. Funding policy The Employer shall have the right to enter into a contract with one or more insurance companies for the purposes of providing any benefits under the Plan and to replace any of such insurance companies or contracts. Any dividends, retroactive rate adjustments, or other refunds of any type that may become payable under any such insurance contract shall not be assets of the Plan but shall be the property of, and shall be retained by, the Employer. 7.08. Source of benefit payments The Employer shall pay any noninsurance benefits to which a Participant is entitled under this Plan from the general assets of the company. Ma~eld Village HRA Plan 0117.doc 10