My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
25D - AGMT RECORDKEEPING SVC 457 PLAN
Clerk
>
Agenda Packets / Staff Reports
>
City Council (2004 - Present)
>
2018
>
07/17/2018
>
25D - AGMT RECORDKEEPING SVC 457 PLAN
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/12/2018 5:33:26 PM
Creation date
7/12/2018 5:26:24 PM
Metadata
Fields
Template:
City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
25D
Date
7/17/2018
Destruction Year
2023
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
94
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
mi Prudential <br />Section 1. <br />EXHIBIT A <br />CORE SERVICES <br />Services Agreement <br />Provided by Prudential Retirement <br />Insurance and Annuity Company <br />The Services listed below are available to your Plan and will be administered in accordance with the <br />Administrative Procedures and, if applicable, the Plan Sponsor elections set forth below. Some Services <br />are dependent upon receipt of all required data in a manner acceptable to Prudential. <br />A. ADMINISTRATIVE & RECORDKEEPING SUPPORT <br />TRANSITION MANAGEMENT <br />• Transition Manager assigned to provide daily support to facilitate the transition of your Plan to <br />Prudential <br />• Participant communications, featuring company name, logo and market -specific images, to inform <br />of transition related information and events. Preferred method of delivery is E -Delivery to the <br />Plan Sponsor, however, home mailing of material to Plan Participants is available. <br />• Mapping of existing Plan document to Prudential's specimen document. <br />• PLAN -SPECIFIC TRANSITION WEB PAGE to keep employees Informed of Important information <br />regarding the conversion of your Plan to Prudential. <br />RELATIONSHIP MANAGEMENT whereby a Prudential associate will be assigned to provide ongoing <br />support following the transition of your Plan to Prudential. <br />MAINTENANCE OF PLAN RECORDS AND TRANSACTION PROCESSING: <br />Prudential will provide the following services, if applicable, to your Plan: <br />• Ongoing maintenance of Plan and Participant accounts and records. <br />• Contribution processing and pricing (e.g. employee and employer contributions, and loan <br />repayments) via Prudential's standard automated applications. <br />• Automated Clearing House contribution funding, upon receiving a contribution file in good order, <br />Prudential will debit the designated account for the required amount to fund the contribution. <br />• Distribution Transaction Processing (see Plan Sponsor Elections below): <br />Fully automated transactions: Paperless (i.e. web or IVR initiated) participant transactions <br />approved by Prudential's systems per the established plan rules and data received from <br />the Plan Sponsor. <br />Sponsor Approved transactions: Paperless (i.e. web or IVR initiated) participant <br />transactions approved by the Plan Sponsor via automated methods. <br />• Direct Service Option (DSO). If agreed to by the Plan Sponsor, Prudential will provide <br />administrative services with respect to Participants no longer employed by the Plan Sponsor who <br />elect or are deemed to elect to retain their account balances in the Plan. By electing this service <br />the Sponsor agrees that Prudential may charge expenses associated with distribution and <br />administration (as applicable) directly to each terminated Participant's account <br />• Loan Services including loan rate monitoring (see Plan Sponsor Elections below), loan default <br />notification services, refinancing, loan services for terminated Participants no longer submitting <br />loan repayments via automated remittance methods. If agreed to by the Plan Sponsor, Prudential <br />will accept loan repayments from Participants via the Automated Clearing House ("ACH') <br />network. <br />• Participant address changes (see Plan Sponsor Elections below). <br />• Collection of participant deferral rate changes (see Plan Sponsor Elections below). <br />• Online beneficiary designation and maintenance. <br />12 <br />2501-17 <br />
The URL can be used to link to this page
Your browser does not support the video tag.