2010-320C - Laserfiche WebLink

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Employers, and that they will make expense payments as required for plan design and administration, and WHEREAS , the Participating Employers with a defined contribution pension plan or plans or with a deferred compensation plan or plans will execute a covenant or agreement to participate in the Master Trust Fund in accordance with the terms of this Agreement, and WHEREAS , the Participating Employers with a post-employment benefit plan or plans other than a pension plan or plans will execute a covenant or agreement that they will deposit their contributions in the Master Trust Fund, based upon appropriate actuarial analysis of benefits or applicable agreement, and out of which lawful and proper claims are to be paid, that they will covenant and agree that there will be no disbursements out of the Master Trust Fund by way of dividends or distribution of accumulated reserves to the respective Participating Employers, and that they will make expense payments as required for plan design and administration . NOW, THEREFORE, the parties hereto mutual agree as follows : PART 1 - GENERAL PROVISIONS Section 100 . APPLICATION . The provisions of Part I are general administrative provisions applicable to each Part of this Agreement . Section 101 . DEFINITIONS . The following definitions shall apply to each Part of this Agreement, unless the context of the term indicates otherwise, and shall govern the interpretation of this Agreement: A . Administrator. The term "Administrator" shall mean the Florida League of Cities, Inc . or any successor designated by the Master Trustees to administer the Master Trust Fund and the Plans. B . Beneficiary . The term "Beneficiary" shall mean a person designated by a Participating Employee to be entitled to a Benefit in case of death of the Participating Employee in accordance with the terms of the applicable Plan . C . Benefits. The term "Benefits" shall mean any and all benefits provided for Participating Employees and their Beneficiaries payable from the assets of the Master Trust Fund or the assets of a Plan, or the policies of insurance providing for such payments, or both , upon certification by the Participating Employer of eligibility for such benefits . D . Custodian . The term "Custodian" shall mean the banks, mutual funds, insurance companies or other qualified entities selected by the Master Trustees, under a separate written document with each, to hold the assets of the Master Trust Fund or the assets of any Plan . 2 MADI 625405.4