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10/11/2022
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10/11/2022
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12/12/2022 10:51:24 AM
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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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E. The Plan Sponsor acknowledges that it has received all information about compensation paid <br />to Nationwide as the Plan Sponsor has reasonably requested and has determined that the total <br />amount of compensation paid to Nationwide as described in this Section 4 is reasonable and <br />appropriate for the services provided. <br />F. To the extent offered under the Plan, in addition to the above described fees, Nationwide <br />shall also receive fees with respect to a participant's use of participant loan administration, <br />the Self -Directed Brokerage Account ("SDBA"), and Nationwide's managed account service <br />("ProAccount") as follows: <br />1) Loans- If requested by the Plan Sponsor and permitted under the terms of the <br />Plan, Nationwide will assist the Plan Sponsor in processing participant loan <br />requests pursuant to participant loan administrative procedures approved by the <br />Plan Sponsor and Nationwide. All participant loan fees are governed by <br />Nationwide's Plan Loan Procedures document, a copy of which has been <br />provided to the Plan Sponsor. <br />2) Self -Directed Brokerage Account (SDBA) — The Plan offers an SDBA investment <br />option for qualifying participants in the Plan. Initial and annual administrative fees <br />may be charged as outlined in the separate fee agreement for the SDBA that will be <br />provided to each participant by the SDBA provider. <br />3) Managed account services (Nationwide ProAccount) - Managed account services are <br />offered by Nationwide Investment Advisors ("NIA"), an affiliate of Nationwide, and <br />the Plan Sponsor must execute a separate agreement with NIA if the Plan Sponsor <br />wants to add ProAccount to the Plan. Only participants who choose to utilize <br />Nationwide's ProAccount managed account service are assessed fees. Such fees are <br />authorized in a separate ProAccount agreement between the participant and NIA, and are <br />assessed pursuant to the terns and conditions of such agreement. <br />Fees related to participant loans, the SDBA and Nationwide ProAccount are in addition to <br />the Compensation Requirement for Administrative Services as provided in this Agreement. <br />G. Plan Sponsor may request Nationwide and/or its affiliates to provide additional services not <br />described in this Agreement by making such a request in writing, which Nationwide may <br />decide to perform for compensation to be negotiated by the parties prior to the <br />commencement of the additional services. <br />5. INVESTMENT OPTIONS <br />Nationwide agrees to accept contributions to the Plan for investment in the investment options <br />selected for the Plan by the Plan Sponsor or other responsible plan fiduciary in its sole discretion <br />and agreed to by Nationwide. <br />Plan Sponsor agrees to accept the terms and conditions of the annuity contracts, mutual funds, and <br />any other investment products selected for the Plan after being provided with a copy of same. <br />ti. ADMINISTRATION SERVICES <br />A. PLAN DOCUMENTS <br />-3- <br />127 <br />
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