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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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previously approved, written directions from the Investment Manager may be provided through <br />any mutually agreed upon electronic or facsimile communication device, and the trustee may <br />fully rely upon the validity and authenticity thereof. <br />(f) If an Investment Manager resigns or is removed by the Employer, the Employer shall promptly <br />notify the Trustee and that portion of the Trust funds shall again be invested pursuant to the <br />instructions of the Employer until another Investment Manager has been appointed with respect <br />to that portion of the Trust funds. <br />Section 4: General Duties of Trustee. <br />(a) The Trustee shall receive, hold, manage, invest and reinvest the Trust Fund pursuant to the <br />provisions of this Section and Section 5 in accordance with the directions of the Employer. The <br />Trustee shall take no action except pursuant to directions received by it from the Employer, and <br />shall have no duty to determine any facts or the propriety of any action taken or omitted by it in <br />good faith pursuant to instructions from such persons. <br />(b) The Trustee shall be responsible, pursuant to client direction, only for such assets as are <br />actually received by it as Trustee hereunder. The Trustee shall have no duty or authority to <br />ascertain whether any contributions should be made to it pursuant to the Plan, nor shall it have <br />any responsibility concerning the amount of any contribution or the application of the Plan's <br />contribution formula. The Trustee shall be obligated to take actions to enforce the Plan's claims <br />for delinquent contributions solely upon the direction of either (i) the Employer or (ii) another <br />named fiduciary for contributions who has been designated in accordance with the Plan. <br />(c) The duties and obligations of the Trustee hereunder shall be limited to those expressly imposed <br />upon it by this Trust Agreement notwithstanding any reference herein to the Plan, and no <br />further duties or obligations of the Trustee, such as a duty to value Plan investments, determine <br />the prudence of any Plan investment, or diversify Plan investments, shall be implied. The <br />Trustee shall not be liable in discharging its duties hereunder if it acts in good faith and in <br />accordance with the terms of this Trust Agreement and in accordance with applicable Federal <br />or state laws, rules and regulations. <br />The Trustee shall have no responsibilities, duties and obligations with respect to any assets not <br />held under this Trust and not identified in Exhibit A, even if those assets are held as assets of <br />the Plan under a separate trust agreement. Any duties and obligations arising from such <br />assets shall be solely those of the trustees named in such separate trust agreement, or, in the <br />event no such separate trust exists, the plan sponsor. <br />Section 5: Power and Duties of Trustee with Respect to Trust Fund. <br />The Trustee shall have the following powers and duties regarding the Trust Fund: <br />(a) To hold title to the assets of the Trust Fund, which may include entering into depository <br />arrangements for the safekeeping of records relevant to the ownership of such assets with any <br />bank or banks as the Trustee may choose. Without limiting the generality of the foregoing, the <br />Employer specifically directs the Trustee to appoint, and the Trustee hereby appoints the <br />Employer or its delegate to act as custodian with respect to promissory notes, mortgages and <br />related documents given in connection with Plan loans, if any. <br />(b) To invest the assets of the Trust Fund in such investment vehicles as directed by the Employer, <br />including Plan loans made to participants, and annuity or insurance contracts issued by <br />affiliates of the Trustee, in accordance with directions received from the Employer, and to agree <br />to amendments to such annuity or insurance contracts, as directed by the Employer. The <br />Trustee shall have no duty or responsibility to determine the appropriateness of any plan <br />investment, or to cause such investments to be changed. Notwithstanding any other provision <br />
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