A.
The Chief Administrative Officer shall complete or engage a consultant to prepare all reports as are required pursuant to Act 205.
B.
The expenses attributable to the preparation of any actuarial valuation report or experience investigation required by Act 205 or any other expense which is permissible under the terms of the Act and which are directly associated with administering the Plan shall be an allowable administrative expense payable from the assets of the Trust Fund. Such allowable expenses shall include but not be limited to the following:
(1)
Investment costs associated with obtaining authorized investments and investment management fees;
(2)
Accounting expenses;
(3)
Premiums for insurance coverage on fund assets;
(4)
Reasonable and necessary counsel fees incurred for advice or to defend the fund; and
(5)
Legitimate travel and education expense for pension plan officials; provided, however, that the municipal officials of the Township, in their fiduciary role, shall monitor the services provided to the Plan to ensure that the expenses are necessary, reasonable and benefit the pension plan, and further provided that the Plan Administrator shall document all such expenses item by item, and, where necessary, hour by hour.