Common use of Common responsibilities Clause in Contracts

Common responsibilities. The following are the common and/or joint responsibilities of MBA and Employer: a) Agree to share information that is necessary for each party to carry out its responsibilities under IRC 403(b), U.S. Treasury Regulations for 403(b), any other federal or state law, and the written plan provisions. b) Maintain and administer the Plan according to federal and applicable state laws. c) Will not rely on employee or former employee self-certifications to carry out administration and compliance of the Plan regarding employment status including eligibility to delay required minimum distributions, eligibility to participate, contribution limits, eligibility for Plan loans, qualifications for hardship distributions, eligibility for other distributions, and any other matters prohibited by 403(b) regulations. i) Section 2c of this document does not preclude receiving some self-certifications from the employee. The intent of the provision of the section is that the primary reliance on certification for compliance with 403(b) regulations will be from sources other than the employee. ii) Employees who are responsible for Plan administration and compliance can certify items on behalf of the employer when proper documentation is available. d) Implement necessary corrective action steps in relation to listed responsibilities.