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What are the definitions of a Designee, Alternate Designee and Authorized Signatory?

April 26, 2017alternate authorized designee signatory

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What are the definitions of a Designee, Alternate Designee and Authorized Signatory?

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The Designee is the legal representative that acts for and on behalf of each Participant. For example, a key function of the Designee is to vote annually for the Board of Trustees. The Alternative Designee(s) are the representatives that act on behalf of each Participant, in the absence of the Designee. A Designee does not have the power to manage the Participant’s investments; that role is carried out by the Authorized Signatories.