§ 5.19.120. Fiduciary responsibility.

A.

Responsibilities Generally. The Plan fiduciaries shall have only such powers, duties, responsibilities and authorities as are specified in the Plan or the Trust Agreement. The Board has the responsibility for appointing, employing or removing any Plan Trustee and the Board Appointee to the Administrative Committee, for approving certain expenses charged to the Plan in accordance with Section 5.19.110 G, and for other duties as set forth in the Plan. The Administrative Committee, as Plan Administrator, is a Plan fiduciary with the responsibility and discretionary authority for interpreting the terms of the Plan, for administering the Plan in accordance with its terms, for appointing or removing any Investment Manager and entering into investment arrangements with respect to the Investment Funds (unless a Directed Trustee has the responsibility and discretionary authority to appoint and remove Investment Managers and enter into investment arrangements), for incurring or approving certain expenses and charging them to the Plan in accordance with Section 5.19.110 G, and for other duties as set forth in the Plan. The Administrative Committee and all other persons with discretionary control respecting the operation, administration, control or management of the Plan or the Trust Fund: (1) will perform their duties under the Plan and the Trust Agreement for the exclusive benefit, and solely in the interest, of Participants and their Beneficiaries; (2) shall be governed by, and adhere to, Chapter 7 of Title 9 of the California Government Code (Section 87000, et seq.), including but not limited to the disclosure and disqualification requirements and the limitations on gifts and honorariums set forth therein; and (3) shall act in accordance with the Uniform Prudent Investor Act and the other provisions of California Trust Law. Provisions (2) and (3) in the previous sentence shall not apply to a Plan fiduciary to the extent such provisions conflict with, or another standard of fiduciary conduct is expressly provided in, the terms of the applicable Trust Agreement, TPA contract or Investment Manager contract negotiated with such fiduciary.

B.

Immunities. Except as otherwise provided by the Trust Agreement:

1.

No fiduciary shall be liable for any action taken or not taken with respect to the Plan or the Trust Agreement except for his or her own negligence or willful misconduct except as otherwise provided in subsection 2 of this Section 5.19.120 B;

2.

A fiduciary shall be liable for a breach of duty committed by another fiduciary (a "co-fiduciary") only under the following circumstances: (a) where the fiduciary participates in the breach of duty committed by a co-fiduciary, (b) where the fiduciary improperly delegates its duties to a co-fiduciary, (c) where the fiduciary approves, knowingly acquiesces in, or conceals a breach of duty committed by a co-fiduciary, (d) where the fiduciary negligently enables a co-fiduciary to commit a breach of duty, or (e) where the fiduciary fails to take reasonable steps to compel a co-fiduciary to redress a breach of duty if the fiduciary knows of, or has information from which he or she reasonably should have known of, the breach of duty;

3.

The County and each officer and Employee thereof, the Administrative Committee and each member thereof, and any other person to whom the County or Administrative Committee delegates (or the Plan or Trust Agreement assigns) any duty with respect to the Plan or the Trust Agreement, may rely and shall be fully protected in acting in good faith upon the advice of counsel, who may be counsel for the County, upon the records of the County, upon the opinion, certificate, valuation, report, recommendation, or determination of the third-party administrator, the Trustee, and Investment Manager, the County Treasurer or of the County Auditor-Controller, or upon any certificate, statement or other representation made by or any information furnished by an Employee, a Participant, a Beneficiary or the Trustee concerning any fact required to be determined under any of the provisions of the Plan;

4.

If any responsibility of a fiduciary is allocated to another person, then, except to the extent provided in subsection 2 of this Section 5.19.120 B, such fiduciary shall not be responsible for any act or omission of such person in carrying out such responsibility; and

5.

No fiduciary shall have the duty to discharge any duty, function or responsibility which is assigned by the terms of the Plan or Trust Agreement or delegated pursuant to the provisions of Section 5.19.110 to another person.

(Ord. 2004-0001 § 2 (part), 2004.)