(A) No part of the net earnings of the trust may inure to the benefit of any participant or beneficiary other then by benefit payments or for services provided to the trustees in their administration of the trust. The trust assets shall not be used for or diverted to purposes other than to provide the benefits contemplated under the plan for the exclusive benefit of retiree participants and their spouses and eligible dependents, except any administrative expenses for which the trust is liable. A portion of net earnings may be used for payment for reasonable and necessary professional services and costs and expenses related to assist the trustees and trust administrator in the operation of the trust. The trustees shall determine what costs, fees and professional services are reasonable and necessary.
(B) All income, profits, recoveries, contributions, forfeitures and any and all monies, securities and properties of any kind at anytime received or held by the trustees hereunder, shall become part of the trust when received, and shall be held for the uses and purposes hereof.
(Ord. 08-03, passed 9-4-2008)