PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY (3)

Home Browse Search

4W Prudential Services Agreement Provided by Prudential Retirement Insurance and Annuity Company • Online beneficiary designation and maintenance. • Eligibility determination and vesting calculations for Plans with immediate, elapsed time, anniversary with hours counting or anniversary with hours counting and change to plan year eligibility methods. A Plan entry notification report will be posted to the Plan Sponsor Website prior to a newly eligible employee's earliest plan entry date. (See Plan Sponsor Elections below). • Prudential will provide standard Plan information materials to participants and will accept and record resulting participant enrollment information. If permitted by the Plan, Prudential will accept and record enrollment information prior to their eligibility date. • Prudential will verify that requested rollovers into the Plan can be accepted according to the plan provisions and applicable law. • Automated cashouts of small balance accounts upon separation from service, either via direct rollover or check to Participant. • Required Minimum Distributions (RMD) support, includes annual Sponsor report identifying Participants attaining age 70'/z, notification to affected Participants, processing of resulting transactions, and support of a default process for non respondent Participants. TRUSTEE SERVICES, Prudential Bank & Trust Services, directed trustee services as defined in the separately executed trust agreement. QUARTERLY PARTICIPANT EDUCATION PROGRAM, a communication & education strategy supporting transition and the essential elements of retirement planning (i.e. enrollment, increasing participation, asset allocation, withdrawal strategy and consolidation). Delivery methods include direct mail campaigns, webinars, podcasts and e-articles. PLAN SPONSOR WEBSITE (PSW), with unlimited access to: • Plan Information • Participant Information • Investment Information and Performance • Library of easy -to -access reports • Resource center with pension -related information and links to related websites PLAN REPORTING, including: • Annual Plan Summary including information on the overall retirement market environment, a "scorecard" that measures results achieved in the past year, current initiatives underway, and considerations for future business planning. • Semi-annual Plan Summary -Enhanced, which contains statistics on Plan demographics, asset allocation, Participant behavior and results of implementation of key Plan features/products. • Required Disclosure Information. • GASB 40 reporting for Governmental clients, which is a financial report that details the key financial risks of funds within the plan, including interest rate risk, credit risk, and foreign currency risk. • Plan Sponsor Website Reporting • Investment Performance Grids: Plan specific performance report, provided on a quarterly basis, that details performance of client funds next to all funds on platform. STANDARD FEE PROCESSING via quarterly invoices to the Plan Sponsor, quarterly per Participant deductions and/or ongoing deduction of transaction based Participant fees. Any applicable per Participant fees are calculated on a per capita basis and applied to all Participants with a balance at the time of the fee processing. PARTICIPANT ENGAGEMENT SUPPORT: Toll -free phone access to Participant phone representatives, for ongoing account information and retirement planning support. Multi-lingual phone services & Telecommunications Device for the Deaf (TDD) Interactive Voice Response (IVR) System 12