Fiduciary. Any individual or entity which exercises any discretionary authority or control over the management of the Plan or over the disposition of the assets of the Plan; renders investment advice for a fee or other compensation (direct, or indirect); has any discretionary authority or responsibility over Plan administration; or acts to carry out a Fiduciary responsibility, when designated by a named Fiduciary pursuant to authority granted by the Plan; subject, however, to any exception granted directly or indirectly by the provisions of ERISA or any applicable Regulations. The Sponsor is the “Named Fiduciary” for purposes of ERISA Section 402(a)(2).
Appears in 5 contracts
Samples: Prototype Defined Contribution Plan (Savannah Bancorp Inc), Prototype Defined Contribution Plan (Athens Bancshares Corp), Prototype Defined Contribution Plan (Fraternity Community Bancorp Inc)
Fiduciary. Any individual or entity which exercises any discretionary authority or control over the management of the Plan or over the disposition of the assets of the Plan; renders investment advice for a fee or other compensation (direct, or indirect); has any discretionary authority or responsibility over Plan administration; or acts to carry out a Fiduciary responsibility, when designated by a named Fiduciary pursuant to authority granted by the Plan; subject, however, to any exception granted directly or indirectly by the provisions of ERISA or any applicable Regulations. The Plan Sponsor (“Employer”) is the “Named Fiduciary” for purposes of ERISA Section 402(a)(2).
Appears in 2 contracts
Samples: Prototype Defined Contribution Plan (1st Constitution Bancorp), Prototype Defined Contribution Plan (Old Dominion Freight Line Inc/Va)
