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PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY (2)
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PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY (2)
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Last modified
10/8/2018 2:38:50 PM
Creation date
10/8/2018 2:36:09 PM
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Contracts
Company Name
PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY
Contract #
A-2018-179 -01
Agency
Finance & Management Services
Council Approval Date
7/17/2018
Expiration Date
9/30/2021
Insurance Exp Date
1/1/1900
Destruction Year
2026
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Employer shall include directions or instructions from any delegate of the Employer or from a <br />Plan participant, where the Plan provisions permit such direction. <br />(d) The Employer shall indemnify and hold harmless the Trustee from and against any and all <br />claims, losses, damages, expenses (including reasonable counsel fees) and liability to which <br />the Trustee may be subject by reason of any act done or omitted to be done, except where the <br />same is finally adjudicated to be due to the negligence or willful misconduct of the Trustee. <br />(e) In addition to and in no way in limitation of the indemnification of paragraph (d), the Employer <br />hereby agrees to indemnify and hold harmless the Trustee from and against any claims, losses, <br />damages, expenses (including reasonable counsel fees) and liability to which the Trustee may <br />be subject by reason of any act or omission of any prior, subsequent or existing trustee of the <br />Plan. <br />(f) The Employer (or another named fiduciary for contributions, if appointed by the Employer) shall <br />have sole and exclusive responsibility for: (i) determining the amount of contributions required <br />to be made under the Plan, (ii) monitoring and ensuring that contributions are made to the Plan <br />in a timely manner and (iii) if required to ensure that contributions are made to the Plan, <br />directing the Trustee with respect to the Plan's legal claims for delinquent contributions. <br />Section 3: Appointment and Duties of Investment Manager. <br />(a) The Employer may, in writing, appoint an Investment Manager to assume the responsibility for <br />the investment of any portion of the assets of the funds held in the Trust for such time as the <br />Employer may determine and, unless such power is reserved to the Employer, for directing the <br />Trustee to vote or refrain from voting any securities held in the Trust over which the Investment <br />Manager has investment responsibility, or to exercise or refrain from exercising any rights to <br />subscribe for additional securities appurtenant to such securities. Appointment of an Investment <br />Manager, or communication of such to the Employer, shall constitute an allocation to the <br />Investment Manager of fiduciary responsibility for the part of the Trust funds subject to the <br />Investment Manager's management and control. <br />(b) The Employer shall ascertain and certify to the Trustee that any Investment Manager appointed <br />hereunder is (i) registered as an investment adviser under the Investment Advisers Act of 1940; <br />(ii) a bank, as defined in that Act; or (iii) an insurance company qualified to perform investment <br />management services under the laws of more than one state, and that the instrument or <br />instruments appointing an investment manager and evidencing the Investment Manager's <br />acceptance of such appointment contains an acknowledgement by the Investment Manager <br />that it is a fiduciary with respect to the Plan. <br />(c) The Investment Manager(s) shall have sole responsibility for the investment and, unless <br />reserved to the Employer, the voting and subscription action of the portion of the Trust funds <br />under its respective management, and the Trustee shall take such action only upon the <br />instructions of the Investment Manager. The Trustee shall not be liable for, or obligated to <br />inquire into, the acts or omissions of any Investment Manager appointed hereunder. <br />(d) The Investment Manager shall from time to time certify to the Trustee the name of the person or <br />persons authorized to act on its behalf, and shall furnish to the Trustee a specimen signature of <br />any such person. When any person ceases to have the authority to act on behalf of the <br />Investment Manager, the Investment Manager shall promptly notify the Trustee. Until such <br />notice is received by the Trustee, such person shall continue to be an authorized representative <br />of the Investment Manager. <br />(e) All directions to the Trustee by the Investment Manager shall be in writing and shall be signed <br />by the Investment Manager or its authorized representative. Provided the Employer has <br />19 <br />
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