The plan-trustee shall not have any duty to vote his, her or its shares or units or other interest in any fund or investment or any business organization or investment organization or entity in which any plan-trust assets may be invested. If the plan-trustee, in his, her or its sole and absolute discretion and free of any fiduciary duty, decides to vote any shares or units or other interest, the plan-trustee may (but need not) seek participants’ and beneficiaries’ (and other investors’) instructions or wishes concerning the plan-trustee’s voting of any shares or units or other interest. Any voting is not subject to any fiduciary duty. However, this section shall not apply to the extent that its application would cause the plan to fail to meet the requirements of I.R.C. § 457(b)(6) and I.R.C. § 457(g).
(Ord. NIRC 97-1, passed 1-15-1997)