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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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EXHIBIT C <br />Sample Client 457(b) Plan <br />Recordkeeping <br />Services Fee Type <br />Annual Fee <br />Amount <br />Quarterly Fee <br />Amount <br />Fee Paid By <br />Asset based <br />0.1000% <br />0.0250% <br />Participant <br />Fee Detail <br />The annual fees for Recordkeeping Services described above will be paid in four quarterly <br />payments. Such quarterly fees based on a participant's account value will be determined <br />by reference to such account value as of the end of the 20th day of the third month within <br />the quarter. For the participant paid fees described above the Employer hereby directs <br />LRSC to direct LFGTC to pay LRSC such fee and the Employer directs LRSC to direct <br />LFGTC to reduce participants' accounts for the payment of such fee. In the event the <br />Employer terminates this Service Agreement on a non -quarter end date, the fees will be <br />prorated and assessed on the date the assets are distributed from the Program. A <br />description of revenue received by LRSC is described in Exhibit A. <br />Plan Expense <br />Annual <br />Annual <br />Invoiced <br />Payee <br />Payee Name <br />Account <br />Funding <br />Cap or <br />or <br />Type <br />Max. <br />Automatic <br />Asset based <br />0.0600% <br />NiA <br />Automatic <br />RIA <br />ABC RIA Co., Inc. <br />Base plan <br />$150.00 <br />N/A <br />Automatic <br />TPA <br />Sample TPA, LLC. <br />charge <br />Plan Expense Account Funding Detail' <br />LRSC will fund the Plan Expense Account in the amount described above from the <br />Recordkeeping Services fee in Section 2.1, quarterly in arrears. As authorized by <br />Employer, the Plan Expense Account will be invested in an investment that has an <br />investment objective of capital preservation and liquidity. Employer hereby agrees that if <br />included as an investment option under the Plan, such investment shall be a group fixed <br />annuity or stable value investment issued by an affiliate of Lincoln. If Employer chooses <br />not to include such investment issued by an affiliate of Lincoln, then the Plan Expense <br />Account will be invested in such other investment option as designated by the Employer. <br />Plan Expense Account Payment/Payee Detail <br />Employer instructs LRSC to instruct LFGTC to pay ABC RIA Co., Inc. the annual amount <br />described above, paid quarterly in arrears, for the RIA services ABC RIA Co, Inc. provides <br />to the Plan. <br />Employer instructs LRSC to instruct LFGTC to pay Sample TPA, LLC. the annual amount <br />described above, paid quarterly in arrears, for the TPA services Sample TPA, LLC <br />provides to the Plan. <br />169 <br />
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