Laserfiche WebLink
THE FLEX COMPANY OF AMERICA, INC . <br /> SECTION 125 AGREEMENT FOR SERVICE <br /> THIS AGREEMENT entered into as of the First day of October 2004 , between The Flex Company of America , <br /> Inc . ( hereinafter " TFC " ) and Circuit Court of Indian River County ( hereinafter " Employer" ) . <br /> WHEREAS , a Flexible Benefit Plan ( " Plan " ) , is to be established by the Employer and designed to comply with <br /> Section 125 of the Internal Revenue Code ( " Code IT <br /> WHEREAS , the Plan incorporates professional material , and internally developed corporate information and <br /> proprietary software and recordkeeping services . <br /> NOW , THEREFORE , IN CONSIDERATION OF THE MUTUAL PROMISES AND AGREEMENTS HEREIN <br /> CONTAINED , THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED , THE PARTIES <br /> AGREE TO THE FOLLOWING TERMS : <br /> SECTION 1 - TFC RESPONSIBILITIES <br /> 1 . 1 TFC ' s services shall include preparation of an individualized Flexible Benefit Plan Document , Adoption <br /> Resolution and Summary Plan Description unless Employer chooses not to have TFC prepare these items . <br /> 1 . 2 TFC agrees to make available the Plan materials to be used for the sole use of the Employer' s Plan and not <br /> for <br /> distribution to others . Stock communication and enrollment materials will be included as outlined in <br /> the <br /> attached Fee Schedule . <br /> 1 . 3 TFC agrees to provide recordkeeping , reports and administration services as outlined in the attached <br /> Fee <br /> Schedule . <br /> 1 . 4 Data held in TFC ' s administration system and online is the legal property of TFC . <br /> 1 . 5 TFC shall have the right to retain , at its own cost , outside services in preparing , implementing and <br /> operating <br /> the Plan . <br /> 1 . 6 One ( 1 ) check register will be faxed or emailed ( based on Employer choice ) to Employer designee <br /> weekly <br /> listing either reimbursement activity for the given week or stating that no reimbursements were processed . If <br /> faxed and receiving fax system is busy or otherwise unable to answer calls , TFC will attempt to resend fax <br />up <br /> to five ( 5 ) times . <br /> SECTION 2 - EMPLOYER RESPONSIBILITIES <br /> 2 . 1 The Employer retains TFC as Plan Service Provider for the Employer' s Plan and authorizes TFC to perform all <br /> functions necessary to prepare , implement , and operate the Employer' s Plan to comply with legal requirements <br /> set forth in the current governmental regulations . The Employer as Plan Administrator/Sponsor has ultimate <br /> fiduciary responsibility and claims authority . <br /> 2 . 2 The Employer agrees to provide data that TFC needs in communication and enrollment of the Plan in a timely <br /> manner. <br /> 2 . 3 The Employer recognizes that the Plan Document is an important legal document and that <br />it has been <br /> prepared to conform to the desired provisions of the program . TFC cannot be responsible for the legal or tax <br /> aspects of the Plan or its appropriateness for the Employer' s situation . If Employer/ Employer' s representative <br /> requires customized language to be incorporated into the Plan ' s legal document( s ) , Employer agrees to pay an <br /> hourly fee plus expenses for customization . <br /> 2 . 4 The Employer understands that requests for reimbursement are electronically scanned and digitally saved <br /> according to , among other items , date received . TFC utilizes commercially reasonable hardware , software , <br /> and corresponding procedures to safeguard the digital images . <br /> 2 . 5 The Employer understands TFC destroys all paper records including requests for reimbursement within either : <br /> 1 ) a reasonable time period after the paper record has been electronically scanned and verified , or <br /> 2 ) the <br /> retention period required by law . After such time period , the paper records are professionally destroyed when <br /> necessary and certificate verification filed at TFC . <br /> 2 . 6 The Employer agrees to notify TFC about any required Employer sponsored plan design amendment( <br />s ) <br /> affecting its Plan , such as employee classification , new hire eligibility , plan year , etc . If so contracted and paid <br />, <br /> TFC will prepare and provide Employer with updated legal documents . Plan amendment fees will apply . <br /> 2 . 7 The Employer is required to provide TFC with highly compensated and key employee information <br /> for <br /> nondiscrimination testing on a timely basis to perform required testing . If one or more tests fail , the Employer <br /> is responsible to make the necessary adjustments and to notify TFC of such adjustments after receiving <br /> notification from TFC . TFC cannot be responsible for any penalties or fines imposed by governmental <br /> agencies as a result or lack of these tests . <br />