(a) It is the duty of the Trustee to pay the benefits to members and their beneficiaries, as provided in Sections 294.04 to 294.06, in accordance with the instructions received from the Board, provided, however, that the duty of the Trustee to make such payments is wholly contingent upon the sufficiency of the Fund for such purposes.
(b) The Township may employ an actuary, investment advisors, counsel or other professional consultants from time to time in connection with the operation of the Fund or of this Plan. Such persons or entities shall be compensated by the Township at such rates as may be agreed upon by the Board. Such compensation may be paid from the Fund.
(c) The Trustee shall make an annual determination of the fair market value of the Fund as of the anniversary date and as of such additional dates as the Board may direct.
The fair market value of the Fund shall be reported to the actuary, who shall calculate the amount to be contributed to the Fund by the Township with respect to each plan year in accordance with the assumptions most recently adopted by the Board for the purpose of such computations, provided, however, that the liability of the Township to make such contributions is subject to all of the conditions and limitations set forth elsewhere in this Plan.
(Ord. 91-5. Passed 6-24-91.)