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2022-206
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Last modified
10/31/2022 2:46:54 PM
Creation date
10/31/2022 2:39:31 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
First Amendment
Approved Date
10/11/2022
Control Number
2022-206
Agenda Item Number
8.D.
Entity Name
Nationwide Retirement Solutions, Inc. Corporation
Subject
First Amendment for recordkeeping services for Assets, termination of the ProAccount
Application for Group Flexible Purchase Payment Deferred Fixed Annuity Contract.
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In the event any modifications to the charge structures, contact information or elections stated on the "Contract <br />Specifications Page" are made, Nationwide will provide updated "Contract Specifications Page" to the Contract Owner. <br />The new "Contract Specifications Page" will supersede the existing pages on the effective date ofthe change. <br />Plan Amendment <br />Unless otherwise provided, the Contract Owner will notify Nationwide at least thirty (30) days prior to the effective <br />date of the following events: <br />1. amendment or modification of the Plan that may materially affect Nationwide's obligations hereunder; <br />2. change in the administrative practices adhered to by the Plan that may materially affect Nationwide; or <br />3. change in the investment options offered by the Plan, including addition of investment options or <br />alteration and/or modification of investment options. <br />The Plan is not a part of this Contract. Nationwide's rights and obligations are governed by the Contract. <br />Notwithstanding the foregoing, Nationwide may amend the Contract when, in the opinion of Nationwide, an <br />amendment is necessary to comply with the action of any legislative, judicial, or regulatory body which impacts the <br />Contract. In the event such amendments to the Contract cause an adverse financial impact to the Plan, the Contract <br />may be terminated by the Contract Owner in accordance with the Termination provision of the Contract. <br />The Contract Owner may amend the Plan when, in the opinion of the Contract Owner, an amendment is necessary to <br />comply with the action of any legislative, judicial or regulatory body which impacts the Plan. In the event such <br />amendments to the Plan cause an adverse financial impact to Nationwide, the Contract may be terminated by <br />Nationwide in accordance with the Termination provision of the Contract. <br />Number <br />Unless otherwise provided, all references in this Contract in the singular form will include the plural; all references <br />in the plural form will include the singular. <br />CONTRACT EXPENSES <br />Nationwide will deduct the applicable charges described herein. <br />Contract expenses are negotiated between Nationwide and the Contract Owner based on a multitude of factors, <br />including, but not limited to, the number of Participants covered by the Contract, the size of Plan assets, the overall <br />expense structure of the Plan, and how the Contract Owner wants expenses distributed. The expenses described <br />herein are deducted from Participant Accounts. <br />Contract Maintenance Charge <br />Nationwide may assess a Contract Maintenance Charge. The Contract Maintenance Charge is a flat dollar fee <br />assessed against the assets of the Contract. If this charge is assessed by Nationwide, the amount and frequency is <br />stated on the Contract Specifications Page. Unless otherwise agreed to by Nationwide in writing, the Contract <br />Owner will determine how this charge is to be allocated and deducted from Participant Accounts. <br />Participant Account Charge <br />Nationwide may assess a Participant Account Charge against each Participant Account. The Participant Account <br />Charge is a flat -dollar fee. If this charge is assessed by Nationwide the amount and frequency is stated on the <br />Contract Specifications Page. <br />NRC-0110FL 5 (Florida) (4/2011) <br />
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