Orange County NC Website
21 <br />or collective basis tsrith the assets of any other 457 plan or trust qualified under Section 401{a) of the Code or <br />an}~ other plan described in Section 401 {a)(24} of the Code, and such contract may be held or issued in the <br />name of the Administrator, or such custodian as the Administrator ina}r appoint, as agent and nominee for <br />the Employer. During the period that an investment through any such contract shall exist, to the extent of <br />participation of the Plan, the terms and conditions of such caltract shall constitute a part of the Plan. <br />(d} To hold cash ativairing investment and to keep such portion of the Trust in cash or cash balances, without <br />liabiligr for interest, in such amounts as ma}~ from time to time be deemed to be reasonable and ncccssar}r to <br />meet obligations under the Plat or otherwise to be in the best interests of the Plan. <br />(e) To hold, to authorize the holding of, a~td to register an}~ investment to the Trust in the name of the Plan, <br />the Employer, or any nominee or agent of any of the foregoing, including the Administrator, or in bearer <br />form, to deposit or arrange far the deposit of securities in a qualified central depository even tliougli, when <br />so deposited, such securities maybe merged and held in bulk in the name of the nominee of such depository <br />with other securities deposited therein by any other person, and to organize corporations or trusts under the <br />laws of any jurisdiction for the purpose of acquiring or holding title to an}~ property for the Trust, alI with or <br />~vithottt the addition of words or other action to indicate that property is Held in a fiduciary or representative <br />capacity but the books and records of the Plan shall at al! times show that all such investments ate part of the <br />Trust. <br />{f) Upon such terms as ma}~ be deemed advisable by the Employer or the Administrator, as the case may be, for <br />the protection of the interests of the Plan or for the preservation of the value of an investment, to exercise <br />and enforce by suit for legal or equitable remedies or by other action, or to waive any right or claim on behalf <br />of the Plan or any default in any obligation awing to the Plan, to renew, extend the time for payment of, <br />agree to a reduction in the rate of interest on, or agree to an}r other modification of change in the terms of <br />anp obligation owing to the PEan, to settle, compromise, adjust, or submit to arbitration any claim or right <br />in favor of or against the Plans to exercise and enforce any and all rights of foreclosure, bid far property in <br />foreclosure, and take a deed in lieu of foreclosure with or without pa}ring consideration therefor, to commence <br />or defend shits or other legal proceedings whenever any interest of the Plan requires it, and to represent the <br />flan in all suits or legal proceedings in any court of law or equity or before any body or tribunal. <br />(g) To employ suitable consultants, depositories, agents, and legal counsel on behalf of the Plan. <br />(h) To open and maintain any bank account or accounts in the tzame of the Plan, the Employer, or any nominee <br />or agent of the foregoing, including the Administrator, in any bank or banks. <br />(i) To do any and all other acts that may be deemed neccssar}* to carry out any of the powers set forth herein. <br />6.03 Taxes and Expenses. All taxes of any a~~d all kinds whatsoever that may be levied or assessed under existing or <br />future laws upon the Plan, or in respect to the Trust, or dte income thereof, and all commissions or acquisitions or <br />dispositions of securities and similar expenses of investment and rci~ivestment of the'I'rust, shall be paid from the <br />Trust. Such reasonable compensation of the Administrator, as may be agreed upon from time to time by the Employer <br />and the Administrator, and reimbursement for reasonable expenses incurred b}~ the Administrator in performance of <br />its duties hereunder (including but nor limited to fees for Iegal, accounting, unrestment and custodial services) shall <br />also be paid from the Trust. <br />GA4 Payment of Benefits.'I'he payment of benefits from the Trust in accordance with the terms of the flan may be made <br />b}r the Administrator, or b}r any custodian or oilier person so authorized b}r the Employer to make such disbursement. <br />The Administrator, custodian or other person shall not be liable with respect to any distribution ofTrust assets made <br />at the direction of the Employer. <br />6.05 Investment Funds. In accordance with uniform and nondiscriminatory rules established by the Employer and <br />the Administrator, the Participant may direct his or her Accowits to be invested in one (1) or more investment <br />6 <br />