(A) The plan-trustee has no investment duties under the plan-trust. Except for use of a processing account, the plan-trustee shall not invest any money or property of the plan-trust other than under the investments selected by the employer as instructed by participants and beneficiaries.
(B) The parties acknowledge that the plan requires participants and beneficiaries to direct the investment of their plan accounts among the plan investment and any funds or options under those investments. The employer is responsible for the selection of the plan investments. The plan-trustee has no duty to consider the prudence of any investment of any kind. The plan-trustee has no duty to and shall not inquire into any participant’s or beneficiary’s investment direction.
(Ord. NIRC 97-1, passed 1-15-1997)