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10/11/2022
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10/11/2022
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Last modified
12/12/2022 10:51:24 AM
Creation date
12/12/2022 10:22:39 AM
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Meetings
Meeting Type
BCC Regular Meeting
Document Type
Agenda Packet
Meeting Date
10/11/2022
Meeting Body
Board of County Commissioners
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EXHIBIT B TO INVESTMENT ADVISORY SERVICES AGREEMENT <br />Fees <br />If the Plan elects to receive the Managed Account Services, the Plan shall pay Morningstar an annual fee, <br />paid monthly, of an amount equal to 25 basis points to Morningstar (the "Morningstar Investment <br />Management Fee") and 20 basis points may be charged by the Service Provider on the net assets under <br />management ("AUM") in the Plan account of each Participant enrolled in the Managed Account Services <br />as of the last day of the month. Plan Sponsor shall contact Service Provider for the final fee. The Service <br />Provider shall deduct the Morningstar Investment Management Fee from the enrolled Participant's Plan <br />account and remit the fees to Morningstar. The AUM shall exclude the following: <br />• Outstanding loan amounts, <br />• Amounts in adjustment accounts, <br />• Self-directed brokerage balances, <br />• Company stock, and <br />• Any other assets excluded from the Managed Account Service. <br />Plan Participants that enroll or unenroll or terminate and distribute their accounts in the Managed Account <br />Service in the middle of a month will be pro -rated based on the number of days the account is active based <br />on a percentage of the total number of days in the month. <br />Collection Authorization and Payment Terms <br />The parties hereby agree that Service Provider shall collect all applicable fees from each Participant's Plan <br />account and is hereby authorized to remit such fees to Morningstar. The parties agree and acknowledge that <br />Service Provider shall collect and remit the Morningstar Investment Management Fee in monthly <br />installments in arrears beginning at the end of the month in which the Morningstar Investment Management <br />Fees were earned by Morningstar. <br />Non -ERISA July 2021 <br />122 <br />
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