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PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY (3)
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PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY (3)
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Last modified
8/20/2024 12:08:56 PM
Creation date
8/17/2021 10:12:44 AM
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Contracts
Company Name
PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY
Contract #
A-2018-179
Agency
Finance & Management Services
Council Approval Date
10/1/2018
Expiration Date
9/30/2021
Insurance Exp Date
1/1/2023
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4V Prudential <br />Services Agreement <br />Provided by Prudential Retirement <br />Insurance and Annuity Company <br />Service Description <br />Service Standard <br />Reimbursement amount <br />Loan initiations <br />99 % of loans processed within 2 business days <br />$56.25 per quarter with an <br />provided the request is received in good order <br />annual cap of $225 <br />by 4 p.m. ET (2 p.m. ET for transactions <br />involving com any stock). <br />Contribution posting <br />Prudential will post 99% of contributions and <br />$56.25 per quarter with an <br />repayments to participant accounts within one <br />annual cap of $225 <br />(1) business day of receipt of good order <br />request. <br />Plan Sponsor reports <br />Data for the preceding quarter is available on <br />$56.25 per quarter with an <br />the plan sponsor website within 10 business <br />annual cap of $225 <br />days after the quarter end. Plan sponsors can <br />create customized, ad hoc reports via the Online <br />Retirement Center for Plan Sponsors website. <br />This website enables you to select from a wide <br />range of data fields to include in your report, and <br />to submit the report request instantly. The Plan <br />Sponsor can also elect to receive an e-mail <br />notification when the report is ready, typically <br />within 24 hours. <br />Participant <br />80 percent rating of Satisfied to Highly Satisfied <br />$56.25 per quarter with an <br />Satisfaction <br />on a 4 point scale <br />annual cap of $225 <br />Participant Level <br />99% of fund transfers are processed the same <br />$56.25 per quarter with an <br />Investment Transfers <br />day if initiated by 4 p.m. ET (2 p.m. ET for <br />annual cap of $225 <br />transactions involving company stock) <br />Withdrawals, <br />99 % of withdrawals processed within 2 <br />$56.25 per quarter with an <br />Unforeseen <br />business days provided the request is received <br />annual cap of $225 <br />Emergency <br />in good order by 4 p.m. ET (2 p.m. ET for plans <br />Withdrawals, <br />with company stock). <br />Rollovers out <br />In the event that Prudential fails to meet a performance standard with respect to a one-time or annual <br />based service (as set forth in this Exhibit), Prudential will provide a "Reimbursement Amount" as <br />described in this Exhibit in the quarter foil owing the failure to provide the guaranteed service standard. <br />In the event a Reimbursement Amount is due under this paragraph, that amount shall be (i) applied <br />against the Plan's administrative expenses otherwise due to Prudential under this Agreement, or (ii) <br />credited toward additional administrative services to be provided by Prudential to the Plan, or (iii) made <br />available to the Plan to pay reasonable and actually incurred Plan administrative expenses in accordance <br />with the terms outlined in Exhibit C of this Agreement. <br />Service Description <br />Service Standard <br />Reimbursement amount <br />Transition <br />Our conversion approach focuses on partnering <br />$5000 <br />Deliverables <br />with you to develop a customized strategy to <br />minimize service interruption while proactively <br />managing and executing the conversion project. <br />When the final participant data is received from <br />the prior record keeper, account balances are <br />reconciled and established on Prudential's <br />
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