(A) Notwithstanding anything to the contrary in this plan-trust declaration, the Plan Administrator shall, at all times and at any time, have the power and the duty and obligation to instruct the plan-trustee in the exercise of any and each of the plan-trustee’s duties or powers. The plan-trustee is entitled to presume without inquiry or consideration of any kind that each such instruction is proper under the plan, the enabling statute and the Internal Revenue Code.
(B) When acting under any such instruction, the plan-trustee shall be free of any and every liability whatsoever arising out of his, her or its act or failure to act if the plan-trustee acts or declines to act according to the Plan Administrator’s instruction(s). In the absence of an instruction by the Plan Administrator, the plan-trustee shall exercise his or her powers (including declining to act) in his or her own discretion, and the employer and the Plan Administrator shall hold harmless, defend and indemnify the plan-trustee, consistent with § 36.139, for any damages arising out of the plan-trustee’s act or failure to act, including even a negligent or grossly negligent or willful act or failure to act.
(Ord. NIRC 97-1, passed 1-15-1997)