Common use of Administrative Allowance Account Clause in Contracts

Administrative Allowance Account. Amounts collected through the application of the asset-based fee described in section 6(a) above in excess of the Revenue Requirement specified in subsection 6(b) above, if any, shall be held in an Administrative Allowance Account (that is maintained as a Plan asset by ICMA-RC). Employer understands that the Plan administrative allowance is to be used only to pay for reasonable plan administrative expenses of the Plan or allocated to Plan participants at the instruction of the Employer.

Administrative Allowance Account. Amounts collected through the application of the asset-based fee described in section 6(a8(a) above in excess of the Revenue Requirement specified in subsection 6(b8(b) above, if any, shall be held in an Administrative Allowance Account (that is maintained as a Plan asset by ICMA-RC). Employer understands that the Plan administrative allowance is to be used only to pay for reasonable plan administrative expenses of the Plan or allocated to Plan participants at the instruction of the Employer.