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2010-320C
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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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C . Contributions. The Administrator shall have the responsibility for accepting <br /> contributions by Participating Employers . The Administrator shall be under no duty to <br /> determine whether the amount of any contribution is in accordance with the Participating <br /> Employer ' s defined benefit pension plan or plans or to collect or enforce payment of any <br /> contribution . All contributions under the participating defined benefit pension plans shall be <br /> transferred to the Defined Benefit Pension Plan Trust to be held, managed, invested and <br /> distributed as part of the Defined Benefit Pension Plan Trust by the Master Trustees in <br /> accordance with the provisions of the Plans and applicable law . All benefits under the Plans <br /> shall be distributed solely from the Defined Benefit Pension Plan Trust and Participating <br /> Employers shall have no financial liability therefor other than the obligation to make <br /> contributions to the Defined Benefit Pension Plan Trust as provided in the Plans . <br /> D . Chapter 175 or 185 Plans , The Master Trustees shall be authorized to take the <br /> steps they deem necessary or appropriate to comply with Chapters 175 and 185 , Florida Statutes, <br /> with respect to any defined benefit pension plan of a Participating Employer established pursuant <br /> to such Chapters . <br /> PART 3 = DEFINED CONTRIBUTION PENSION PLAN TRUST <br /> Section 300 . APPLICATION . <br /> The provisions of Part 3 apply to the Defined Contribution Pension Plan Trust and the <br /> participating defined contribution pension plans of the Participating Employers. <br /> Section 301 . ESTABLISHMENT AND PURPOSE OF TRUST FOR DEFINED <br /> CONTRIBUTION PENSION PLANS . <br /> A . Establishment of Trust for Defined Contribution Pension Plans . The Master <br /> Trustees established the Defined Contribution Pension Plan Trust for the exclusive benefit of <br /> Participating Employees of Participating Employers with a defined contribution pension plan or <br /> plans . The authority to conduct the general investment operation and the general administration <br /> of the Defined Contribution Pension Plan Trust is vested in the Master Trustees . The Master <br /> Trustees may contract with the Administrator to perform delegated functions with respect to any <br /> participating defined contribution pension plan, and the Administrator may contract with third <br /> parties to provide administrative, investment and custodial services in relation to any <br /> participating defined contribution pension plan . <br /> B . Purposes of Defined Contribution Pension Plan Trust. The Master Trustees shall <br /> maintain the Defined Contribution Pension Plan Trust for the exclusive benefit of the <br /> Participating Employees and their Beneficiaries . The Master Trustees intend to maintain sound <br /> prudent practices designed to provide easy and convenient access to information and transactions <br /> for Participating Employees, including transfers from one investment option to another at the <br /> Participating Employee ' s direction . The Master Trustees intend to maintain these practices at a <br /> reasonable cost to the Participating Employers and Participating Employees . The Master <br /> Trustees intend to preserve Participating Employees ' rights to choose freely among a broad <br /> range of investment options and to self-direct investments for their Plan accounts . Further, the <br /> Master Trustees intend to perform ongoing evaluations and reviews to ensure that the investment <br /> 19 <br /> MADI_625405. 4 <br />
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