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2010-320C
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Last modified
2/23/2016 2:16:14 PM
Creation date
10/1/2015 1:30:43 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
12/21/2010
Control Number
2010-320C
Agenda Item Number
12.G.3
Entity Name
Florida League of Cities
Subject
Pension Fund Amended June 2006
Florida Municipal Pension Trust Fund Master Agreement
Supplemental fields
SmeadsoftID
9171
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15 . To participate in a tax-exempt group trust that has been determined by the <br /> Internal Revenue Service to be a pooled fund arrangement pursuant to Revenue Ruling <br /> 81 - 100 . <br /> 16 . To determine, consistent with the applicable law and the claims procedure <br /> under the Plans, all questions of law or fact that may arise as to investments and the rights <br /> of any person claiming rights under the Plans, including without limitation , Participating <br /> Employees, former Participating Employees , and Beneficiaries . <br /> 17 . Subject to and consistent with the IRC , to construe and interpret the <br /> Master Trust Agreement and to correct any defect, supply any omissions, or reconcile <br /> any inconsistency in the Agreement . <br /> 18 . To contract for, purchase or otherwise procure insurance and investment <br /> products . <br /> 19 . To register any Master Trust Fund asset in the name of the Master Trust <br /> Fund or in the name of its agent or nominee or to hold any instrument in bearer form (but <br /> the books and records of the Plans shall at all times show that such investments are part <br /> of the Master Trust Fund) . <br /> Section 105 . TAXES , EXPENSES AND COMPENSATION OF MASTER TRUSTEES . <br /> A . Taxes . The Master Trustees, without direction from the Administrator, shall pay <br /> out of the Master Trust Fund all taxes imposed or levied with respect to the Master Trust Fund, <br /> or any part thereof, under applicable law, and, in their discretion, may contest the validity or <br /> amount of any tax, assessment, claim or demand respecting the Master Trust Fund or any part <br /> thereof. <br /> B . Expenses and Compensation . The Master Trustees are authorized to set aside <br /> from Participating Employer and Participating Employee contributions received and the <br /> investment income earned thereon a reasonable sum for the operating expenses and <br /> administrative expenses of the Master Trust Fund and the Plans . All remaining funds coming <br /> into the Master Trustees shall be set aside, managed and used only for the payment of Benefits as <br /> set forth in the applicable Plan. <br /> The Master Trustees may establish from time to time a reasonable amount of <br /> compensation to cover attendance at meetings by the Master Trustees and the Administrator in <br /> the performance of the normal duties of the Master Trustees or Administrator, which <br /> compensation may include reimbursement for necessary expenses incurred therein . <br /> C . Payment of Expenses. The Master Trustees may use and apply assets in the <br /> Defined Benefit Pension Plan Trust, Deferred Compensation Plan Trust, Defined Contribution <br /> Pension Plan Trust and Other Post-Employment Benefit Plan Trust as part of and in the Master <br /> Trust Fund to pay or provide for the payment of all reasonable and necessary expenses which <br /> may be incurred in connection with the establishment and maintenance of the Defined Benefit <br /> Pension Plan Trust, Deferred Compensation Plan Trust, Defined Contribution Pension Plan Trust <br /> and Other Post-Employment Benefit Plan Trust, including but not limited to, the employment of <br /> 8 <br /> MADI 625405. 4 <br />
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