2022-204 - Laserfiche WebLink

Home Browse Search

responsible for any and all Losses, as defined in Section 3.1 below, which result from its or the Plans' failure to provide such information in a timely manner. 1.2 Eligible Employer and Selection of the Program. The Employer has determined that the Plan is to be funded through the Program, and the Employer certifies that it is eligible under the applicable sections of the Code to sponsor the Plan. Employer instructs Lincoln to comply with all applicable distribution restrictions provided in the Code. The Employer has determined, in its sole and exclusive discretion that the Plan is not subject to the governance of Title I of the Employee Retirement Income Security Act of 1974, as amended, ("ERISA"), and falls within the scope of an applicable exclusion from coverage under ERISA. Employer agrees that it will enter into an agreement with Lincoln Financial Group Trust Company, Inc. (hereinafter referred to as "LFGTC") for it to act as trustee for the Plan and for LFGTC to maintain records on a plan -level basis. Employer agrees to pay for the services provided by LFGTC, and instructs LRSC to pay LFGTC for such services. The fee stated in Section 2.1 includes LFGTC's fee, and LRSC serves only as paying agent in administering any payment to LFGTC. Employer further agrees that it will enter into agreements for certain Investments with investment providers or service providers requiring an agreement directly with the Plan, such as a group fixed annuity (including any group fixed annuity provided by a Lincoln affiliate), stable value fund, a collective investment trust, a self-directed brokerage account or other Investment or service. Employer authorizes LRSC to provide a copy of this Service Agreement to LFGTC. Employer agrees that LRSC's performance under this Service Agreement is contingent upon Employer successfully entering into and maintaining the agreements described in this Section 1.2. 1.3 Investments Selected. a. Investments. By execution of this Service Agreement, Employer certifies that it has selected the investment line-up for the funding of the Plan as listed in Exhibit A. Such Investments shall be made available as investment options to the Plan participants. LRSC and/or its affiliated broker/dealer ("Affiliate Broker/Dealer") has entered or will enter into agreements with various mutual fund families and other issuers of appropriate Investments that make up the lineup. Investments may pay LRSC, Affiliate Broker/Dealer, or their affiliates various fees, as more fully disclosed in Exhibit A hereto, for various services provided. Any change in Investments and the fees paid therefrom will be reflected annually by LRSC in an updated Exhibit A, which will replace the previous Exhibit A and/or Exhibit B without the need to further amend this Service Agreement. An updated Exhibit A shall be provided during the annual plan review or by delivery via U.S. Mail to the Employer at the address provided in Section 4.5 or via email to an email address provided by Employer. b. Lincoln Not Obligated for Investments. The Parties and the Plan expressly agree that Lincoln is not acting as a fiduciary, as defined under ERISA or other applicable law, to the Plan in the selection of the Investments or accounts made available through the Program; that Lincoln has no duty to monitor the Indian River County BOCC 457(b) INDR-001 1423269 Page 2 of 20