N.J. Admin. Code § 17:7-10.1

Current through Register Vol. 56, No. 21, November 4, 2024

Section 17:7-10.1 - Authority of Plan Administrator

(a) The Plan Administrator has full and complete authority and discretion to control and manage the operation of the Program. The Plan Administrator has any and all powers as may be necessary or advisable to discharge its duties under the Program, and has complete discretionary authority to decide all matters and questions under the Program.

(b) Without limiting the comprehensive effect of (a) above, the Plan Administrator's discretionary decisions may include, but shall not be limited to, any decision as to:

1. Whether a natural person is an employee;

2. Whether an employee belongs to a particular employment classification;

3. Whether an employee is an eligible employee, the amount of a participant's base salary, and the amount of contributions to be made;

4. Whether an amount of contributions exceeds the limits prescribed by the ABP Retirement Plan or applicable law;

5. Whether a payment option is an annuity payment option;

6. Whether a participant has a severance from employment;

7. Whether a beneficiary designation is valid or effective, and who is the proper beneficiary;

8. Whether a participant or beneficiary is a minor or incompetent, the person who is a proper recipient for a participant or beneficiary who is a minor or an incompetent; and

9. Whether any power-of-attorney is effective and acceptable to act with respect to the Program.

(c) The discretionary decisions of the Plan Administrator are final, binding, and conclusive on all interested persons for all purposes.

N.J. Admin. Code § 17:7-10.1