Administrative Expenses

(a)Fees Or Charges Paid By Participants. The Board of Trustees may provide for administrative fees or charges to be paid by participants in the following manner:

(1)For fiscal years beginning October 1, 1995, and October 1, 1996, the Board of Trustees may assess an amount up to four percent (4%) of the employer and member contributions.

(2)For fiscal years beginning October 1, 1997, and thereafter, the Board of Trustees may assess an amount up to two percent (2%) of the employer and member contributions.

(b)Any amounts collected under § 8217(a), but not needed for administrative expenses, including start-up costs of the plan, shall be allocated to member accounts.

(c)Use of Forfeitures. For fiscal years beginning October 1, 2001 and thereafter, the Board of Trustees shall use the aggregate amount of forfeitures released from the suspense account described in § 8210(e) at the end of each fiscal year to pay for the plan’s administrative expenses, including start-up costs of the plan, and to reduce administrative fees or charges paid by participants under § 8217(a).