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PUBLIC AGENCY RETIREMENT SERVICES (PARS) - 2020
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PUBLIC AGENCY RETIREMENT SERVICES (PARS) - 2020
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Last modified
8/20/2024 11:32:07 AM
Creation date
6/23/2020 8:58:21 AM
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Contracts
Company Name
PUBLIC AGENCY RETIREMENT SERVICES (PARS)
Contract #
A-2020-119
Agency
Finance & Management Services
Council Approval Date
6/2/2020
Expiration Date
6/30/2027
Insurance Exp Date
7/30/2023
Destruction Year
2031
Notes
For Insurance Exp. Date see Notice of Compliance; A-2016-170,A-2016-375, A-2016-170-01
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3.2 Additional Powers. In addition to the other powers enumerated above, and whether or not <br />the Plan Administrator has retained investment authority, the Trustee in any and all events is <br />authorized and empowered; <br />(a) To invest fiends in any type of interest -bearing account including without limitation, <br />time certificates of deposit or interest -bearing accounts issued by Union Bank, N.A., or any mutual <br />fund or short term investment fund ("Fund"), whether sponsored or advised by Union Bank, N.A. or <br />any affiliate thereof; Union Bank, N.A. or its affiliate may be compensated for providing investment <br />advice or other services to such Fund, in addition to any Trustee's fees received pursuant to this <br />Trust Agreement; provided, that such compensation is reasonable; <br />(b) To cause all or any part of the Trust to be held in the name of the Trustee (which in <br />such instance need not disclose its fiduciary capacity) or, as permitted by law, in the name of any <br />nominee, and to acquire for the Trust any investment in bearer form; but'the books and records of <br />the Trust shall at all times show that all such investments are a part of the Trust and the Trustee shall <br />hold evidences of title to all such investments; <br />(c) To serve as custodian with respect to the Trust assets with the sole exception of <br />insurance policy or annuity contracts, the underlying assets of which shall be maintained by the <br />insurance company issuer; <br />(d) To employ such agents and counsel as may be reasonably necessary in managing <br />and protecting the Trust assets and to pay them reasonable compensation; to employ any broker. <br />dealer, including any broker -dealer affiliatedwith the Trustee, and pay to such broker -dealer its <br />standard commissions; to settle, compromise or abandon all claims and demands in favor of or <br />against the Trust; and to charge any premium on bonds purchased; <br />(e) In addition to the powers listed herein, to do all other acts necessary or desirable for <br />the proper admlristration of the Trust, as though the, absolute owner thereof and to exercise and <br />perform any and all of the other powers and duties specified in this Trust Agreement; <br />(f) To abandon, compromise, contest, arbitrate or settle claims or demands; to <br />prosecute, compromise and defend lawsuits, but without obligation to do so, all at the risk and <br />expense of the Trust; <br />(g) To permit such inspections of documents at the principal office of the Trustee as are <br />required by law, subpoena or demand by United States agency and to disclose the Agency's name to <br />issuers of securities in connection with shareholder communications unless directed otherwise in <br />writing; <br />(h) To comply with all requirements imposed by applicable state Statutes or other <br />applicable provisions of state or federal law; <br />(i) To seek written instructions from the Agency, Plan Administrator or other fiduciary <br />or, to the extent Participants are permitted to direct the investment of all or any portion of their <br />Accounts under the Plan, from a Participant, on any matter and await written instructions from such <br />person without incurring any liability. If at any time the Agency, the Plan Administrator, a fiduciary <br />554-26 <br />
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