Responsibility for the Plan Clause Samples
The "Responsibility for the Plan" clause assigns accountability for the creation, implementation, and ongoing management of a specific plan, such as a project, insurance, or benefits plan, to a designated party. Typically, this clause clarifies which party is responsible for ensuring the plan meets all legal, regulatory, and contractual requirements, and may outline duties such as maintaining documentation, making updates, or communicating changes to relevant stakeholders. Its core practical function is to eliminate ambiguity regarding who is in charge of the plan, thereby reducing the risk of disputes or lapses in compliance.
Responsibility for the Plan. The Promoter has ultimate responsibility for the Plan. Specifically, the Promoter is responsible for applying for registration of the Plan as a Registered Education Savings Plan under the Tax Act and any applicable provincial tax legislation, and for the administration of the Plan. The Trustee is responsible for the trust fund created hereunder and accepts the office of trustee of the Plan upon the terms and conditions herein contained. Without in any way derogating from the ultimate responsibility of the Trustee for the trust fund created hereunder, from time to time the Trustee may delegate to the Promoter as agent for the Trustee, certain of its duties to be performed in respect of such trust fund including the following:
a) the receipt of Subscriber Contributions;
b) the investment and reinvestment of Assets of the Plan in accordance with the terms herein;
c) the collection and remittance of fees and charges applicable hereunder;
d) the payment of amounts out of the Plan in accordance with the terms herein;
e) maintaining the accounting records of the Plan;
f) providing to the Subscriber Statements of account for the Plan; and
g) such other duties as the Trustee may determine in its discretion from time to time.
Responsibility for the Plan. Except to the extent this Agreement specifically requires the Company to have the fiduciary responsibility for a Plan administrative function, Plan Sponsor accepts total responsibility for the Plan for purposes of this Agreement, including its benefit design, the legal sufficiency and distribution of Plan documents, and compliance with any laws that apply to Plan Sponsor or the Plan, whether or not Plan Sponsor or someone Plan Sponsor designates is the Plan Administrator. Plan Sponsor represents and warrants ongoing compliance with applicable notice and distribution requirements under Title I of ERISA while this Agreement is in effect, including timely distribution of the SPD and summary of benefits and coverage (“SBC”). Plan Sponsor will notify the Company within 30 days of discovery of any failure to comply with such requirements. The Plan Sponsor represents and warrants that the Plan has the authority to pay fees due under this Agreement from Plan assets.
Responsibility for the Plan. Except to the extent this Agreement specifically requires us to have the fiduciary responsibility for a Plan administrative function, you accept total responsibility and exclusive authority including but not limited to the following: 1) its benefit design; 2) the exclusive, final and binding discretionary authority and power to interpret the terms, conditions, limitations, and exclusions of the Plan as described in Section 12.2 of this Agreement; and 3) compliance with any laws that apply to you or the Plan, whether or not you or someone you designate is the Plan Administrator. We are not the Plan Administrator of the Plan. You shall have the right to delegate such discretionary authority to other persons to include persons or entities providing services in regard to the Plan.
Responsibility for the Plan. Plan Sponsor accepts total responsibility for the Plan for purposes of this Agreement, including its benefit design, the legal sufficiency and distribution of Plan documents, and compliance with any laws that apply to Plan Sponsor or the Plan, whether or not Plan Sponsor or someone Plan Sponsor designates is the Plan Administrator. Plan Sponsor represents and warrants ongoing compliance with applicable notice and distribution requirements under applicable laws, including timely distribution of the summary of benefits and coverage (“SBC”), and any other documents required under applicable law. Plan Sponsor will notify the Company within 30 days of discovery of any failure to comply with such requirements. The Plan Sponsor represents and warrants that the Plan has the authority to pay fees due under this Agreement from Plan assets.
Responsibility for the Plan. Company shall be considered the Plan Sponsor and Plan Administrator for purposes of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended. Company is responsible for complying with all applicable provisions under ERISA, and retains full and final authority and responsibility for the Plan and its operation, including full responsibility for all ERISA fiduciary duties, claims administration, the legal sufficiency and distribution of SPDs, and compliance with any laws that apply to Company or the Plan. Contract Administrator is empowered to act on behalf of the Plan only as stated in this Agreement.
Responsibility for the Plan. Contract Administrator is not the Plan Administrator of the Plan. Any references in this Agreement to “administering the Plan” are descriptive only and do not confer upon Contract Administrator anything beyond certain agreed upon administration duties. Except to the extent this Agreement specifically requires Contract Administrator to have the fiduciary responsibility for a Plan administrative function, Company accepts total responsibility for the Plan for purposes of this Agreement including its benefit design, the legal sufficiency and distribution of SPDs, and compliance with any laws that apply to Company or the Plan, whether or not Company or someone Company designates is the Plan Administrator.
Responsibility for the Plan. Except to the extent this Agreement specifically requires UHS to have the fiduciary responsibility for a Plan administrative function, City acknowledges it has sole responsibility for the Plan for purposes of this Agreement including its benefit design and compliance with any laws that apply to City or the Plan, whether or not City or someone designated by City is the Plan Administrator. UHS is not the Plan Administrator of the Plan. The City shall have the exclusive, final and binding discretionary authority and power to interpret the terms, conditions, limitations, and exclusions of the Plan, including any framework of interpretations applicable to the Plan, to make factual determinations regarding payment of claims or provision of benefits and to construe any disputed or ambiguous terms under the Plan or the framework of interpretations applicable to the Plan. The City shall have the right to delegate such discretionary authority to other persons to include persons or entities providing services in regard to the Plan.