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25D - AGMT RECORDKEEPING SVC 457 PLAN
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25D - AGMT RECORDKEEPING SVC 457 PLAN
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Last modified
7/12/2018 5:33:26 PM
Creation date
7/12/2018 5:26:24 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
25D
Date
7/17/2018
Destruction Year
2023
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1 Services Agreement <br />T PrudentialProvided by Prudential Retirement <br />Insurance and Annuity Company <br />PLAN SPONSOR ELECTIONS <br />(Eff. 10/1/2018) <br />The Plan Sponsor has elected the following services, options or frequencies for administration of the <br />Services noted. <br />PRUDENTIAL'S E -DELIVERY PROGRAM AT THE WORKPLACE <br />Yes ® No ❑ <br />DISTRIBUTION TRANSACTION PROCESSING <br />®i ui�j uu.�ii 4l utC.J aul,Jui.l,iuiiv <br />®Sponsor Approved transactions <br />PARTICIPANT TRANSACTIONS via non-core initiation and approval methods. Transactions will be <br />reviewed and approved based on the agreed upon criteria in the Administrative Procedures and the Plan <br />Sponsor Elections above. <br />Transaction <br />Initiation <br />A roval <br />In -Service Withdrawals <br />Paperless <br />Prudential <br />Event Distributions (i.e. termination, <br />retirement disability) <br />Paperless <br />Prudential <br />Participant Loans <br />Paperless <br />Prudential <br />Qualified Domestic Relations Orders <br />Paper <br />only <br />Prudential <br />Distributions Due to Death <br />Paper <br />only <br />Prudential <br />AUTOMATIC ENROLLMENT <br />CONTRIBUTION ACCELERATOR <br />® Opt In <br />❑ Opt Out <br />INVOLUNTARY DISTRIBUTIONS <br />LOAN RATE MONITORING — LOAN INTEREST RATES <br />Per the Plan's loan policy Prudential will apply and monitor the interest rates noted below: <br />General Purpose Loans: Prime + 2 % Primary Residence Loans: Prime + 2 % <br />LOAN REPAYMENTS VIA AUTOMATED CLEARING HOUSE (ACH) <br />Active Participants <br />Plan Sponsor authorizes Prudential to establish loan repayments by Participants through the Automated <br />Clearing House network through a separate agreement with, and instructions from, each applicable Plan <br />Participant. <br />❑ ACH or Coupon (only allowed if Payroll Deduction is NOT offered) <br />❑ ACH Only (only allowed if Payroll Deduction is NOT offered) <br />17 <br />25D-22 <br />
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