R2009-37 ADOPTING POST EMPLOYEMENT HEALTH PLAN

Home Browse Search

,� . � ' The Employer understands that failure to make payments in a timely manner may result in sanctions ' permitted by law, as well as the termination of its participation in the Plan, as provided in rules established , from time to time by the Administrator. On request the Administrator shall provide the Local Union a copy of the Contribution Summary Sheet(or similar Report)for Participants represented by the Local Union and shall notify the Local Union of the amounts received on behalf of those Participants at the request of the Union. The Administrator and Trustee may assume that Contributions paid over to the lockbox by participating Employers are correct. � Any responsibility relating to enforcement of the contribution obligation pursuant to the CBA and this , Participation Agreement shall rest solely with the Local Union. 9. The Employer(and the Locat Union through the CBA) hereby appoint, and approve of, NRS to provide claims payment seniices and to act as the Administrator for the Plan. The Employer further agrees that the Administrator's compensation for its services shall be an annual charge per participant of $30.00. The Employer has advised its covered employees of such fees. Such charge shall be assessed to each participant's account on the anniversary date, which is one year after the date the initial contribution to the Plan was made, and each succeeding anniversary of such date. The Administrator's fee shall remain fixed for the duration of this Agreement unless the Employer and Administrator mutually agree in writing to adjust the fee. 10.The Employer and the Local Union (through the CBA) hereby appoint, and approve of Bank of America to act as Trustee of the Plan and Trust, and hereby ratify the terms of the Trust Agreement entered into between employees' representatives(i.e. the Professional Firefighters of Wisconsin, the Illinois Professional Firefighters Association, and the Wisconsin Professional Police Association)and the Trustee, a copy of which has been provided to the Employer. 11.The Employer(and its covered employees through its Advisory Committee Representative) hereby appoint and approve of Nationwide Advisory Services, Inc. to act as investment manager for the TrusYs assets and the authorization of a group variable annuity for investment of the Employer's contributions. 12. The Employer acknowledges that it has received and reviewed the informational brochure for the annuity (attached hereto as Exhibit C). It is understood and agreed that part of the arrangement between NRS as Administrator and product provider Nationwide Life Insurance Company includes fees. The Employer acknowledges that, in addition to the annual charge described in Section 9, an actuarial risk fee equaling an annual rate of 0.50%of the daily net asset value will be assessed on every participant's fund balance in the Variable Annuity Investment. In the Fixed Annuity Investment, this fee is included in the net crediting rate. 13. The Employer hereby acknowledges it has received the"Disclosure and Acknowledge Form" (the "Form")which is incorporated into this Agreement as Exhibit D, and further agrees to be bound by the Form. 14. No waiver of any default in performance on the part of the Administrator or the Employer or any breach or series of breaches of any of the terms of this Agreement shall constitute a waiver of any subsequent breach. Resort to any remedies referred to herein shall not be construed as a waiver or any other rights and remedies to which the Administrator is entitled under this Agreement or otherwise. 15. Should any part of this Agreement for any reason be declared invalid, such decision shall not affect the validity of any remaining portion, which remaining portion shall remain in force and effect as if this Agreement had been executed without the invalid portion. 16. The Employer shall indemnify and hold the Administrator harmless for and against all losses, damages, liabilities or expenses(including, but not limited to, reasonable attorney's fees and litigation expenses) which the Administrator may incur as a result of claims based upon any breach by the Employer, its affiliates, agents or employees of any provisions of this Agreement, the Plan document or related items DC-2936-0408(Collecfively Bargained)