Are monies contributed invested and if so, would the Company be advised where its monies are invested?
The structure that would be established will be as follows:
- Assuria establishes a deposit administration contract (legal document) with a company (the Plan Sponsor).
- The Plan Sponsor appoints in-house trustees and a trust deed (legal document) is established.
- The Plan Sponsor pays the contributions to Assuria on behalf of the trustees/members.
- Assuria opens a separate bank account (Custodian of funds) with the preferred beneficiary as the trustees, creating a clear separation between the two groups’ funds/monies (Assuria & Plan Sponsor).
- Assuria establishes an investment agreement with the company/trustees (Investment Agreement with clear and defined investment objectives).
- Assuria invests the contributions on behalf of the Plan Sponsor/trustees (the named beneficiary of the investment) clearly defined in the investment agreement.