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05/03/2022
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05/03/2022
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Last modified
5/27/2022 3:33:29 PM
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5/27/2022 12:44:44 PM
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Meetings
Meeting Type
BCC Regular Meeting
Document Type
Agenda Packet
Meeting Date
05/03/2022
Meeting Body
Board of County Commissioners
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• Sample Client 403(b) Plan sponsored by the Employer Sample Client Name; <br />• Sample Client 457(b) Plan sponsored by the Employer Sample Client Name <br />Employer agrees, notwithstanding Section 1.13, that LRSC may use Plan participant <br />information for the limited purpose of providing services under this Section 1.15. <br />1.16 Morningstar Services. Morningstar Investment Management, LLC ("Morningstar') <br />makes available advisory services as part of the Program as described below. Morningstar <br />is a registered investment adviser and wholly owned subsidiary of Morningstar, Inc. <br />Morningstar and Lincoln are not affiliated. Morningstar acts as a fiduciary when providing <br />Advisory Services to Plan participants. Lincoln provides ministerial services to administer <br />Morningstar's services, but at no time provides advice or takes discretion of Plan assets <br />or Plan participant accounts. <br />Managed by You. "Managed by You" is an online advice service, a service made available <br />to Plan participants through the Program at no additional cost to the Employer or Plan <br />participants. Plan participants will have access to the Managed by You services online <br />including, but not limited to personalized fund -specific investment recommendations, <br />general education, and research tools, to help them make more informed decisions about <br />managing their retirement accounts. Morningstar accepts a fiduciary role as investment <br />advisor for its fund recommendations to participants. <br />1.17 Participant -level Communications. Employer consents to the delivery by electronic <br />means of all participant communications. disclosures etc., required by applicable law and <br />delivered by LRSC on behalf of the Employer, including those communications required <br />by ERISA or the Internal Revenue Code, as applicable, in a manner compliant with <br />applicable laws or regulations relating to electronic delivery. <br />1.18 Enrollment Services. LRSC will provide enrollment services for Plan participants <br />to enroll into the Plan, including but not limited to providing paper enrollment forms to Plan <br />participants or providing web access to Plan participants to enroll online. LRSC will not <br />provide investment advice as part of its enrollment services. Employer, at its discretion, <br />may allow for persons unaffiliated with Lincoln to provide enrollment services, provided <br />that such unaffiliated persons or their employer have entered into an agreement with <br />Employer to provide such enrollment services. <br />1.19 Record Retention. LRSC will maintain documents on matters for which disclosure <br />is required by law for not less than six years after the date such documents should have <br />been filed. <br />1.20 Mapped Plans. If applicable, Employer agrees to provide Lincoln with <br />documentation of the amount of account values that will be transferred from another <br />vendor and deposited with Lincoln. <br />1.21 Lincoln Wellness Path Services. Lincoln makes available the Lincoln <br />WellnessPATHO Financial Wellness service ("Wellness Path") as a licensee of the <br />Questis consumer -facing Financial Wellness platform, as part of the Program as described <br />below. Questis and Lincoln are not affiliated. Neither Questis nor Lincoln act as a fiduciary <br />when providing the Wellness Path Services to Plan participants. <br />159 <br />
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