What is one responsibility that the Trust Administrative Committee does NOT have?

The Trust Administrative Committee oversees various functions related to the administration of trusts, aiming to ensure that the trust operates in accordance with established standards and policies. A key responsibility of this committee is to uphold and evaluate the effectiveness of administrative policies and procedures, which underscores their role in maintaining compliance and operational effectiveness within the trust.

While approving discretionary distributions is an important task in trust management, it does not typically fall under the responsibilities of the Trust Administrative Committee. Instead, this decision is often the responsibility of the trustee or an investment committee that has direct oversight over the trust's financial distributions. The Trust Administrative Committee focuses more on governance, policy oversight, and compliance rather than on the specific financial decisions related to distributions from the trust.

Furthermore, the committee's responsibilities usually include reviewing administrative practices and engaging in annual investment reviews to ensure that the trust’s investments align with its objectives. Accepting new accounts requires compliance checks and is often related to the operational side, which is also part of the responsibilities in ensuring that due diligence is conducted according to standards and regulations.