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2023-130AD
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2023-130AD
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Last modified
12/28/2023 10:32:16 AM
Creation date
12/28/2023 10:31:14 AM
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
06/20/2023
Control Number
2023-130AD
Agenda Item Number
12.D.1.
Entity Name
Ameritas Life Insurance Corp.
Subject
Administrative Service Agreement for Group Insurance for Plan Year 2023/2024
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this Agreement shall be as specified in Addendum B ("Administrative Service Charge"), both <br />for the Initial Term of this Agreement and for any Subsequent Agreement Period unless <br />adjusted by Ameritas in accordance with Section V(E) or otherwise agreed by the Parties. <br />Initial Term and Subsequent Agreement Period shall be as defined in Section VI., below. <br />B. The Administrative Service Charge as applied and provided for in Addendum B, will start on <br />the first day of the month falling on or after the date the applicable coverage is effective. The <br />Administrative Service Charge for the applicable coverage will cease on the last day of the <br />month falling on or after the date of termination of the applicable coverage. There will be no <br />pro rata charges or credits for partial month. <br />C. Ameritas will refund unearned Administrative Service Charges to Plan Sponsor for up to three <br />(3) months before the date Ameritas receives evidence that a refund is due. <br />D. Prior to the first (1St) day of each month of this Agreement, Ameritas will submit a report to <br />Plan Sponsor, or, if applicable to Designee, identifying the Covered Person(s) and listing the <br />Administrative Charges for the month. Remittance of the Administrative Service Charges shall <br />be due by the first (1 st) of the month and past due on the tenth (10th) of the month. Such report <br />and remittance shall be subject to audit and adjustment, as necessary, by Ameritas within ninety <br />(90) days of receipt. <br />E. The Administrative Service Charge may be adjusted by Ameritas at the start of any Subsequent <br />Agreement Period following the Initial Term, provided Ameritas has given Plan Sponsor at <br />least forty-five (45) days advance written notice of its intent to adjust the Administrative <br />Service Charge. Subsequent Agreement Period shall be as defined in Section VI., below. <br />Should Ameritas fail to timely deliver any Administrative Service Charge change notice, the <br />Administrative Service Charge contained in the notice shall still be effective but not until the <br />first month following the month in which the advance notice period required hereunder ended. <br />Upon the delivery of such Administrative Service Charge change notice, Addendum B attached <br />hereto shall be deemed to be modified without any further action by the parties. <br />Section VI. Term and Termination <br />A. Term <br />1. Although executed on the dates shown below, this Agreement shall be effective as of <br />10/1/2023 (the "Effective Date") through 9/30/2024 (This time period shall be considered <br />the "Initial Term"). <br />2. This Agreement shall be automatically renewed for successive twelve (12) month periods <br />beginning the first day following the expiration of the Initial Term and each anniversary of <br />such date thereafter, unless terminated as provided for herein. Such renewal periods shall <br />be considered "Subsequent Agreement Periods." <br />B. Termination <br />1. Termination without cause. This Agreement may be terminated without cause by either <br />
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