Administration Account definition
Examples of Administration Account in a sentence
Each Participating School Board shall contribute to the Administration Account in accordance with this Article X, from which the Expenses incurred by the Plan will be paid.
Upon adopting a new Administration Account contribution level, the Pension Trustees shall set an effective date for the new Administration Account contribution level, such effective date being the July 1 following the date on which the Pension Trustees adopted the new Administration Account contribution level.
The amount contributed by a Participating School Board to the Administration Account shall be in an amount to be determined by the Pension Trustees, in their sole discretion.
All contributions required to be made to the Administration Account by a Participating School Board shall be remitted to the Pension Trustees or the Custodian employed by them, within 30 days after the month for which they are due.
Where the Pension Trustees receive a recommendation from their Association to either increase or decrease the Administration Account contribution rate required from Participating School Boards in accordance with this Article, or where the Pension Trustees otherwise believe that a change in the Administration Account contribution rate is in order, the Pension Trustees may, but are not obligated to, in their sole discretion, revise the Administration Account contribution rate accordingly.