Welfare Benefit Plans Created and Established; Body Corporate

The Welfare Benefit Plans for Defined Contribution Retirement System members as described herein shall be created and established to provide employee welfare benefits as reasonable and necessary to fulfill the purposes of this Article. The business of each welfare benefit plan created hereunder shall constitute a CH. 8 RETIREMENT OF PUBLIC EMPLOYEES body corporate and all business of each welfare benefit plan shall be transacted in the name of the Government of Guam Defined Contribution Retirement System for the benefit of its members.