In addition to (and not by limitation upon) any other provisions of this plan-trust declaration, the plan-trustee may (but is not required to) establish and maintain a bank account(s) for the purpose of receiving and holding for a reasonable time amounts awaiting investment. This account may be used to hold contributions awaiting investment. This account may be used for receiving and clearing a transfer paid to the plan-trustee under another eligible deferred compensation plan to be invested under the plan. This account may be used to receive amounts to pay a distribution to a participant or beneficiary or other distributee or payee. Any interest income or investment earnings attributable to this account shall be used to defray plan administration expenses.
(Ord. NIRC 97-1, passed 1-15-1997)