Except as otherwise required by the enabling statute, none of the employer and each employer and the Plan Administrator has or had any responsibility and shall not have any liability relating to the selection of plan investments. Without limiting the comprehensive effect of the above, the employer is not liable for losses or damages arising out of: any action in approving or purchasing any plan investment(s), any bankruptcy or insolvency or impairment or liquidation or rehabilitation or supervision of any issuer(s) and any other impairment of any issuer’s ability to meet its obligations or the performance of any plan investments.
(Ord. NIRC 97-1, passed 1-15-1997)