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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
Creation date
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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Plan related to the Program. Such services may include, but are not limited to: submitting <br />contributions, processing loans or distributions and changing participant data on LRSC's <br />files. Employer hereby authorizes LRSC to accept instructions from the TPA and agrees <br />that LRSC may rely on the instructions and information received from the TPA, without the <br />need of any further authorization. Employer understands that such authorization includes <br />providing the TPA with access to the Employer's Plan to view participant accounts, submit <br />contributions, process deductions and make changes to participant accounts. Each year, <br />Lincoln may provide the Plan Sponsor with an annual participant fee disclosure template <br />document ("Disclosure") within the meaning of 29 CFR 2550.404a-5 to assist the Plan <br />Sponsor in fulfilling its Disclosure obligation. If the Plan Sponsor engages TPA to provide <br />services to its plan, the Plan Sponsor hereby directs Lincoln to populate the "TPA Fee <br />page(s)" in the Disclosure with fee information (if any) provided to Lincoln by the TPA. The <br />Plan Sponsor acknowledges that Lincoln is not responsible for the accuracy of such <br />information and may rely upon the information without further review or confirmation by <br />Lincoln, the Plan Sponsor, TPA or other parties. In order to be populated in the Disclosure, <br />the Plan Sponsor acknowledges that the TPA must upload and maintain the information <br />on Lincoln's web -based portal. TPAs are responsible for entering and updating all TPA <br />fee information. Lincoln is not responsible for ensuring a TPA has uploaded the <br />information to the portal or has updated information previously provided. Lincoln will <br />include the most current information stored on the portal at the time the Disclosure is <br />produced. If the TPA makes no changes to the information in the portal from one reporting <br />period to the next, the information will be carried over until such time that the TPA makes <br />a change to the information or the TPA is no longer the TPA of record for the plan. LRSC <br />is also authorized to provide the TPA with reports and information requested by the TPA <br />to assist TPA in performing its duties for the Plan. Employer agrees that LRSC may rely <br />on this authorization from the Employer until LRSC is notified in writing of the termination <br />or change in the TPA. <br />Employer also authorizes LRSC to accept instructions from the TPA to deduct fees from <br />participant or Plan accounts and remit these fees to the TPA. The applicable fees are set <br />forth below. Unless otherwise specified, the Employer directs that all withdrawals will be <br />assessed against participant Plan accounts and will be prorated across all investment <br />options and sources. The following fees will be deducted from participant accounts: <br />• $ 50 TPA fee per loan processed <br />• $ 50 TPA fee per distribution processed <br />• $250 TPA fee per QDRO processed <br />ARTICLE 2 <br />FEES AND EXPENSES <br />2.1 Fees. Fees for the Recordkeeping Services shall be as set forth in Exhibit C <br />attached hereto. Upon expiration of the Fee Commitment Period, as defined in Section <br />2.4, LRSC may update the fees set forth in Exhibit C by amending Exhibit C as set forth <br />in Section 4.13. <br />Employer agrees that its agreements with LFGTC will provide for the payment of such <br />fees from Plan assets. In the event Employer terminates this Service Agreement on a <br />161 <br />
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