Resolution 5887 - Laserfiche WebLink

Home Browse Search

. from date of termination, the information on all participants' histories for the past three years. If the participant history is requested, the Plan Sponsor will pay all costs incurred by the Contract Administrator in providing the history, including the cost of programming, computer charges. mailing costs, etc. If additional information is requested by the Plan Sponsor after this contract terminates, the Plan Sponsor will pay all costs incurred by the Contract Administrator in providing such information, including the cost of programming, computer charges, mailing costs, etc. The Contract Administrator shall be entitled to retain copies of any such records at its own expense. 5. Liabilities and Obligations. The Contract Administrator shall have no responsibility, risk, liability or obligation for the funding of the Plan. The responsibility and obligation for funding the Plan shall be solely and totally the responsibility of the persons or entities so provided in the Plan. (a) It is further understood and agreed that the Contract Administrator shall have no responsibility or obligation to take action, legal or otherwise, against any employer or employees or other person to enforce provisions of this Plan. In the event that the Plan Sponsor desires to engage the services of the Contract Administrator for such purposes, such services shall be engaged and rendered only pursuant to a separate written agreement between the parties. . (b) It is further understood and agreed that the Contract Administrator shall not be responsible or obligated for the investment of any assets or funds of the Plan. (c) The Contract Administrator shall process benefits in accordance with the Plan or policy adopted by the Plan Sponsor. The Contract Administrator shall incorporate sound business practices and be responsible for reasonable internal audits. Where an error exists the Contract Administrator shall use reasonable internal audits. Where an error exi~ts the Contract Administrator shall use reasonable efforts for recovery of any loss resulting therefrom, but will not be required to initiate legal process for any recovery. (d) It is further understood and agreed that the Contract Administrator shall not be responsible for determining the participants' eligibility to participate in the Plan and may rely on the information supplied by the Plan Sponsor in determining eligibility. . 6. Independent Contractor. It is understood and agreed that the Contract Administrator is engaged to perform services under this Agreement as an independent contractor. The Contract Administrator shall use his best efforts to implement such written instructions, if any, as to policy and procedures which may be given by the Plan Sponsor to the Contract Administrator provided that such instructions are consistent and compatible with the description of services to be performed by the Contract Administrator and do not violate or contradict any laws or regulations, including but not limited to the Employee Retirement Income Security Act of 1974, as amended.