Laserfiche WebLink
A, Prudential <br />Services Agreement <br />Provided by Prudential Retirement <br />Insurance and Annuity Company <br />• Eligibility determination and vesting calculations for Plans with immediate, elapsed time, <br />anniversary with hours counting or anniversary with hours counting and change to plan year <br />eligibility methods. A Plan entry notification report will be posted to the Plan Sponsor Website <br />prior to a newly eligible employee's earliest plan entry date. (See Plan Sponsor Elections below). <br />• Prudential will provide standard Plan information materials to participants and will accept and <br />record resulting participant enrollment information. If permitted by the Plan, Prudential will accept <br />and record enrollment information prior to their eligibility date. <br />• Prudential will verify that requested rollovers into the Plan can be accepted according to the plan <br />provisions and applicable law. <br />• Automated cashouls of small balance accounts upon separation from service, either via direct <br />rollover or check to Participant. <br />• Required Minimum Distributions (RMD) support, includes annual Sponsor report identifying <br />Participants attaining age 70 %, notification to affected Participants, processing of resulting <br />transactions, and support of a default process for non respondent Participants. <br />TRUSTEE SERVICES, Prudential Bank & Trust Services, directed trustee services as defined in the <br />separately executed trust agreement. <br />QUARTERLY PARTICIPANT EDUCATION PROGRAM, a communication & education strategy <br />supporting transition and the essential elements of retirement planning (i.e. enrollment, increasing <br />participation, asset allocation, withdrawal strategy and consolidation). Delivery methods include direct <br />mail campaigns, webinars, podcasts and e -articles. <br />PLAN SPONSOR WEBSITE (PSW), with unlimited access to: <br />• Plan Information <br />• Participant Information <br />• Investment Information and Performance <br />• Library of easy -to -access reports <br />• Resource center with pension -related information and links to related websites <br />PLAN REPORTING, including: <br />• Annual Plan Summary including information on the overall retirement market environment, a <br />"scorecard" that measures results achieved in the past year, current initiatives underway, and <br />considerations for future business planning. <br />• Semi-annual Plan Summary -Enhanced, which contains statistics on Plan demographics, asset <br />allocation, Participant behavior and results of implementation of key Plan features/products. <br />• Required Disclosure Information. <br />• GASB 40 reporting for Governmental clients, which is a financial report that details the key <br />financial risks of funds within the plan, including interest rate risk, credit risk, and foreign currency <br />risk. <br />• Plan Sponsor Website Reporting <br />• Investment Performance Grids: Plan specific performance report, provided on a quarterly basis, <br />that details performance of client funds next to all funds on platform. <br />STANDARD FEE PROCESSING via quarterly invoices to the Plan Sponsor, quarterly per Participant <br />deductions and/or ongoing deduction of transaction based Participant fees. Any applicable per <br />Participant fees are calculated on a per capita basis and applied to all Participants with a balance at the <br />time of the fee processing. <br />PARTICIPANT ENGAGEMENT SUPPORT: <br />• Toll-free phone access to Participant phone representatives, for ongoing account information and <br />retirement planning support. <br />• Multi-lingual phone services & Telecommunications Device for the Deaf (TDD) <br />13 <br />25D-18 <br />