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GREAT WEST LIFE-401 (A) PLAN
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Last modified
4/1/2015 8:52:51 AM
Creation date
3/31/2015 11:11:42 AM
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Contracts
Company Name
GREAT WEST LIFE-401 (A) PLAN
Contract #
A-2015-041
Agency
FINANCE & MANAGEMENT SERVICES
Council Approval Date
1/20/2015
Expiration Date
9/2/2016
Insurance Exp Date
1/1/1900
Destruction Year
2021
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3. Summary of Authorized Investment Options; <br />4. Discussion of services, including automated <br />voice response system and website inquiry, <br />retirement planning, investment seminars and <br />QDROs; <br />5. Instructions on how to enroll in the Plan or <br />request an individual counseling session with a <br />Great -West representative. <br />D. Individual Counseling Sessions <br />Upon request, Great -West representatives will <br />conduct prescheduled individual counseling <br />sessions, utilizing a Participant paycheck analysis, an <br />asset allocation model and retirement counseling <br />services, as approved by Plan Sponsor. Great -West <br />shall not provide information on a Participant's <br />account to any spouse, former spouse, family <br />member or friend of Participant, without the consent <br />of the Participant. Participants must authorize, by <br />invitation, any such person to attend these <br />counseling sessions. <br />E. Plan Sponsor Committee Meetings <br />Upon request, the Great -West Relationship <br />Manager and Account Representative may be <br />required to attend periodic Plan Sponsor meetings <br />and will be prepared to provide a Plan performance <br />and benchmark report regarding the Plan and Great - <br />West activities and future record keeping and <br />communication services efforts. <br />F. Communications and Marketing Plan <br />Great -West will prepare a communications and <br />marketing plan for review by Plan Sponsor. Such <br />Plan will be finalized in a mutually agreeable manner. <br />G. Assignment of Representatives <br />Great -West shall assign one full -time Account <br />Representative to provide communication and <br />marketing services exclusively to the Plan. Such <br />representative will be responsible for all group <br />meetings and individual counseling sessions as <br />directed by Plan Sponsor. In addition, Great -West <br />shall assign to the Plan a Relationship Manager of <br />higher corporate rank than the Client Relationship <br />Director and Account Representative, and this <br />Relationship Manager will be accessible during <br />reasonable business hours for discussion of Plan <br />management issues and/or concerns. <br />H. Retirement Planning Education, Distribution <br />Counseling <br />Plan Sponsor agrees that ongoing retirement <br />planning education and distribution counseling may <br />be made available to Participants by Great -West or <br />an affiliate. Where a Participant wishes either to <br />contribute or roll over to an IRA, an IRA product may <br />be made available by Great -West or its affiliate. <br />Where a Participant requests, via a recorded <br />telephone call with Great -West, to roll assets into the <br />Plan from a previous employer's plan, Plan Sponsor <br />instructs and authorizes Great -West to assist the <br />Participant in completing such rollover without Plan <br />Sponsor's signature or further approval, provided the <br />Plan permits such rollovers. The recordkeeper of the <br />previous employer's plan may require Plan Sponsor's <br />signature or approval to complete the rollover. <br />Great -West shall provide a quarterly report with <br />information detailing the activity of rollovers into IRA <br />products and compensation received by Great -West <br />and affiliates as a result of any rollover transactions. <br />V. MISCELLANEOUS PROVISIONS <br />Great -West and Plan Sponsor specifically accept and <br />agree to each of the following requirements: <br />A. Confidentiality of Data and Privacy Notice <br />Great -West and Plan Sponsor agree to maintain <br />and hold in confidence all Nonpublic Personal <br />Information ( "NPI ") received in connection with the <br />performance of services under this Agreement. NPI <br />includes personally identifiable financial information <br />as defined by Title V of the Gramm - Leach - Bliley Act. <br />Great -West shall not use or disclose NPI to any third <br />party, other than affiliates and service providers <br />appointed by Plan Sponsor, without Plan Sponsor's <br />written consent, except as permitted or required by <br />law. Any third party service provider retained by <br />Great -West to provide services under this <br />Agreement, and who has access to NPI, shall agree <br />in writing to be bound by confidentiality and non- <br />disclosure provisions, and to use such NPI only for <br />the performance of specific services under this <br />City of Santa Ana Services Agreement 401(a) 02 -02 -15 Page 13 <br />
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