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25A - DEFERRED COMP SRVS
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25A - DEFERRED COMP SRVS
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Last modified
1/3/2012 3:56:14 PM
Creation date
12/16/2010 12:20:13 PM
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City Clerk
Doc Type
Agenda Packet
Item #
25A
Date
12/20/2010
Destruction Year
2015
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Plan number 306741 <br />2. Adoption of Trust <br />Employer has adopted the Declaration of Trust of VantageTrust and agrees to the <br />commingled investment of assets of the Plan within the Trust. Employer agrees that <br />operation of the Plan and the investment, management, and distribution of amounts <br />deposited in the Trust shall be subject to the Declaration of Trust, as it may be amended <br />from time to time and shall also be subject to terms and conditions set forth in disclosure <br />documents (such as the Retirement Investment Guide or Employer Bulletins) as those <br />terms and conditions may be adjusted from time to time. It is understood that the term <br />"Employer Trust" as it is used in the Declaration of Trust shall mean this Administrative <br />Services Agreement. <br />3. Exclusivity Agreement <br />Employer agrees that for the initial or succeeding term of this Agreement specified in <br />Section 10, so long as ICMA-RC continues to perform in all material respects the <br />services to be performed by it under this Agreement. Employer shall not obtain plan <br />administration for the 457 Deferred Compensation from any other provider than ICMA- <br />RC. Employer acknowledges that ICMA-RC has agreed to the compensation to be paid <br />to ICMA-RC under this Agreement in the expectation that ICMA-RC will be able to <br />offset costs allocable to performing this Agreement with revenues arising from <br />Employer's exclusive use of ICMA-RC at the rates provided herein throughout the initial <br />or succeeding term. <br />4. Employer Duty to Furnish Information <br />Employer agrees to furnish to ICMA-RC on a timely basis such information as is <br />necessary for ICMA-RC to carry out its responsibilities as Administrator of the Plan, <br />including information needed to allocate individual participant accounts to Funds in the <br />Trust, and information as to the employment status of participants, and participant ages, <br />addresses, and other identifying information (including tax identification numbers). <br />ICMA-RC shall be entitled to rely upon the accuracy of any information that is furnished <br />to it by a designee of the Employer or any information relating to an individual <br />participant or beneficiary that is furnished by such participant or beneficiary, and ICMA- <br />RC shall not be responsible for any error arising from its reliance on such information. <br />ICMA-RC will provide account information in reports, statements or accountings. <br />Employer is required to send in contributions through EZLink, the online plan <br />administration tool provided by ICMA-RC. Alternative electronic methods may be <br />allowed, but must be approved by ICMA-RC for use. Contributions may not be sent <br />through paper submittal documents. <br />Certain Representations and Warranties <br />ICMA-RC represents and warrants to Employer that: <br />25A-5
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