(A) The participating employers shall furnish the Committee with any information from their records which, in the opinion of the Committee, is necessary or advisable to enable it to establish and maintain the tax qualification or classification of the plan and trust or to exercise properly its authorities and powers and to perform its duties under the plan and trust.
(B) Except as otherwise provided by the plan, the Committee shall have authority to interpret all provisions of the plan and to decide all questions arising in its administration. All such determinations shall be binding upon all participants, former participants, beneficiaries and all other persons or entities having or claiming any interest through or against them.
(C) (1) Benefits under the plan are intended to contribute to the financial security of participants, former participants and beneficiaries. No benefit, payment or installment payable or to become payable under § 31.030 is assignable, and no such benefit, payment or installment shall be subject to seizure, sequestration or attachment through legal process or subject to the legal or equitable claim of any creditor or other claimant.
(2) The preceding paragraph (C)(1) above shall also apply to the creation, assignment or recognition of a right to any benefit payable with respect to a participant or former participant pursuant to a domestic relations order, unless such order is determined to be a qualified domestic relations order, as defined in I.R.C. § 414(p).
(3) The Committee shall establish a written administrative procedure to determine the status of a judgment, decree or order as a qualified domestic relations order and to administer plan distributions in accordance with qualified domestic relations orders. Such procedure shall be in writing, shall include a provision specifying the notification requirements enumerated in the Internal Revenue Code, shall permit an alternate payee to designate a representative for receipt of communications from the Committee and shall include such other provisions as the Committee shall determine, including provisions required under regulations promulgated by the Secretary of the Treasury.
(D) Neither this plan nor any Act under this plan shall give any participant, former participant, beneficiary or other person any right to be accepted or retained in the employment of a participating employer or affiliate, and no participant, former participant, beneficiary or other person shall have any right or claim to any benefit or right under this plan which has not arisen under the express provisions of this plan.
(E) The provisions of this plan shall be interpreted to satisfy the qualification requirements of the Internal Revenue Code, as amended, and any other applicable federal law. References to any section of the Internal Revenue Code herein shall include any successor provisions thereto. This plan shall otherwise be construed, administered, regulated and governed in all respects under and by the laws of the state.
(F) Unless the context otherwise requires, words of the masculine gender include the feminine, words of the singular include the plural and words of the plural include the singular.
(G) No part of the trust fund (other than such part as may be used to pay costs, expenses, taxes and other charges in connection with the administration of the plan and trust) shall be used for or diverted to purposes other than for the exclusive benefit of participants, former participants or their beneficiaries. However, in the event the plan is disqualified or contributions hereunder are made on account of a mistake of fact, the trust fund shall be returned to the participating employers within one year from the date of such disqualification or the date such mistaken contributions are made.
(H) (1) This plan is hereby designated as a profit sharing plan. However, in accordance with I.R.C. § 401(a)(27), contributions under the plan shall be allowed without regard to a participating employer’s current or accumulated profits.
(2) By joining in the execution of this plan and trust, the participating employers and trustee signify their acceptance of the plan and trust as amended and restated and their agreement to be bound by the provisions hereof.
(Ord. MET 88-24, passed 6-10-1988; Ord. MET 89-2, passed 1-13-1989)