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R99-200 AUTHORIZING SERVICE AGREEMENT
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R99-200 AUTHORIZING SERVICE AGREEMENT
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Last modified
4/7/2016 8:16:36 AM
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Resolution/Ordinance
Res Ord Num
R99-200
Res Ord Title
AUTHORIZING SERVICE AGREEMENT WITH ICMA RETIREMENT CORPORATION FOR SECTION 401 MONEY PURCHASE PLAN AND TRUST
Approved Date
11/15/1999
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, Plan # 7548 <br /> 5. Participation in Certain Proceedings <br /> The Employer hereby authorizes RC to act as agent, to appear on its <br /> behalf, and to join the Employer as a necessary party in all legal proceedings involving <br /> the garnishment of benefits or the transfer of benefits pursuant to the divorce or <br /> separation of participants in the Employer Plan. Unless Employer notifies RC <br /> otherwise, Employer consents to the disbursement by RC of benefits that have been <br /> garnished or transferred to a former spouse, spouse or child pursuant to a domestic <br /> relations order. <br /> 6. Compensation and Payment <br /> (a) Plan Administration Fee. The amount to be paid for plan <br /> administration services under this Agreement shall be 0.55% per annum of the amount <br /> of Plan assets invested in the Trust. Such fee shall be computed based on average <br /> daily net Plan assets in the Trust. <br /> (b) Account Maintenance Fee. (1) There shall be an annual account <br /> maintenance fee of 50.00. The account maintenance fee is payable in full on January <br /> 1 of each year on each account in existence on that date. For accounts established <br /> AFTER January 1 , the fee is payable on the first day of the calendar quarter following <br /> establishment and is prorated by reference to the number of calendar quarters , <br /> remaining on the day of payment. � <br /> (ii) The account maintenance fee will be waived beginning in the year ' <br /> following the year in which total Plan assets exceed S4 million. <br /> (c) Compensation for Management Services to the Trust and Advisory <br /> and other Services to the Vantagepoint Funds. Employer acknowledges that in <br /> addition to amounts payable under this Agreement, RC receives fees from the Trust <br /> for investment management services furnished to the Trust. Employer further <br /> acknowledges that certain wholly-owned subsidiaries of RC receive compensation for <br /> advisory and other services furnished to the Vantagepoint Funds, which serve as the <br /> underlying portfolios of a number of Funds offered through the Trust. The fees <br /> referred to in this su�section are disclosed in the Retirement Investment Guide. Thes� <br /> fees are not assessed against assets invested in the Trust's Mutual Fund Series. <br /> (d) Mutual Fund Services Fee. There is an annual charge of 0.40% <br /> assessed against average daily net Plan assets invested in the Trust's Mutual Fund <br /> Series. <br /> (e) Model Portfolio Fund Fee. There is an annual charge of 0.10% <br /> assessed against daily average net Plan assets invested in the Trust's Model Portfolio <br />
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