[Ord. No. 92-80 §§1 —
3, 12-16-1992; Ord. No.
94-73 §1(a), 8-17-1994]
A.
The
City of Bridgeton shall be the Plan Administrator. The City Council
shall have authority to designate a fiduciary or fiduciaries having
the authority to control and manage the operation and administration
of the Plan, and in the absence of such designation, the City Council
shall be such fiduciary. Such fiduciary is herein called the "Trustee".
B.
The
City Council may select an individual or a committee of individuals
to serve as Trustee at any time and may at any time remove any individual
or committee acting as Trustee. A Trustee may resign upon giving written
notice to the City Council. Such an appointment, removal or resignation
shall become effective upon the date specified in the ordinance or
written notice.
C.
If
a Committee is serving as Trustee, an action by the Committee shall
be valid if concurred in:
[Ord. No. 92-80 §§1 —
3, 12-16-1992; Ord. No.
94-73 §1(b), 8-17-1994]
The Trustee shall have the power and the duty to take all action
and to make all decisions necessary or proper to carry out the Plan.
[Ord. No. 92-80 §§1 —
3, 12-16-1992; Ord. No.
94-73 §1(c), 8-17-1994]
A.
The
Trustee shall have the following powers and duties with respect to
the performance of its duties as Trustee:
1.
To receive all contributions.
2.
Subject to any limitations that may be contained elsewhere in the
Plan, to take control and management of the Trust Fund and shall hold,
sell, buy, exchange, invest and reinvest the corpus and income of
the Trust Fund. All contributions paid to the Trustee under the Plan
shall be held and administered by the Trustee as a single Trust Fund.
3.
To invest and reinvest the assets of the Trust Fund.
4.
To sell or exchange any property or asset of the Trust Fund.
5.
To retain in cash, and keep unproductive of income, such funds as
from time to time it may deem advisable.
6.
To consult with legal counsel concerning any questions which may
arise with reference to the construction of this Plan, its duties
hereunder, or any action which it proposes to take or not to take.
7.
Subject to the approval of the Mayor and City Council, to designate
a bank or trust company as Depository of the funds or property of
the Trust, to the extent such designation is not inconsistent with
existing contracts.
[Ord. No. 92-80 §§1-3, 12-16-1992; Ord. No. 94-73 §1(d), 8-17-1994]
The Trustee may, subject to the approval of the Mayor and City
Council, employ counsel, accountants, actuaries, agents and such clerical
or other services as it may require in carrying out the provisions
of the Plan or in complying with other requirements imposed by law.
[Ord. No. 92-80 §§1-3, 12-16-1992; Ord. No. 94-73 §1(e), 8-17-1994]
To the extent permitted by law, the City Council, the Trustee
and any person to whom the City Council or Trustee may delegate any
duty or power in connection with administering the Plan, the City,
and the officers thereof, shall be entitled to rely conclusively upon,
and shall be fully protected in any action taken in good faith in
the reliance upon any actuary, counsel, accountant or other person
selected by the Trustee and, where required, approved by the Mayor
and City Council. Further, to the extent permitted by law, neither
the Trustee, the City Council, nor the City, shall be liable for any
neglect, omission or wrongdoing of the Trustee, City Council, insurance
company, investment manager, or any other person or fiduciary.
[Ord. No. 92-80 §§1-3, 12-16-1992]
Administrative expenses of the Plan, such as actuarial, consulting
and legal services, shall be paid directly by the Trust Fund to the
extent such payments are permitted by law. Such expenses may, in the
discretion of the City, be paid directly by the City.
[Ord. No. 92-80 §§1 —
3, 12-16-1992]
A.
The
claims procedure hereunder shall be as provided herein:
1.
Claim. A Participant or Beneficiary or other person
who believes that he is being denied a benefit to which he is entitled
(hereinafter referred to as "Claimant") may file a written request
for such benefit with the City Council setting forth his claim.
2.
Response to claim. The City Council shall respond
within ninety (90) days of receipt of the claim. However, upon written
notification to the Claimant, the response period may be extended
for an additional ninety (90) days for reasonable cause. If the claim
is denied in whole or in part, the Claimant shall be provided with
a written opinion using non-technical language setting forth:
a.
The specific reason or reasons for denial;
b.
The specific references to pertinent Plan provisions on which the
denial is based;
c.
A description of any additional material or information necessary
for the Claimant to perfect the claim and an explanation of why such
material or such information is necessary;
d.
Appropriate information as to the steps to be taken if the Claimant
wishes to submit the claim for review; and
e.
The time limits for requesting a review.
3.
Request for review. Within sixty (60) days after
the receipt by the Claimant of the written opinion described above,
the Claimant may request in writing that the City Council review its
determination.
The Claimant or his duly authorized representative may review
the pertinent documents and submit issues and comments in writing
for consideration to the City Council. If the Claimant does not request
a review of the determination within such sixty (60) day period, he
shall be barred from challenging the determination.
4.
Review and final decision. The City Council shall
review its determination within sixty (60) days after receipt of a
Claimant's request for review; provided. however, that for reasonable
cause such period may be extended to no more than one hundred twenty
(120) days. After considering all materials presented by the Claimant,
the City Council will render a written opinion, written in a manner
calculated to be understood by the Claimant setting forth the specific
reasons for the decision and containing specific references to the
pertinent Plan provisions on which the decision is based. The decision
of the City Council shall be final and binding on all parties.
