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25E - AGMT - EMPL BENEFITS
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25E - AGMT - EMPL BENEFITS
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Last modified
8/31/2017 5:04:06 PM
Creation date
8/31/2017 4:28:08 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Police
Item #
25E
Date
9/5/2017
Destruction Year
2022
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D. It is the Plan Sponsor's responsibility to educate and inform Plan participants on <br />the services being provided, including the delivery of <br />(where needed) as well as compliance documents (e.g., Surtrimajy Plan <br />Description). The Plan Sponsor is responsible For executing and etai ling the <br />Bdsiness:Associate Agreement (where applicable) provided in thea ministration <br />materials. <br />4. Financial Responsibilitv of.the Plan Sponsor <br />A. Respoiis bility'for payment of all Plan benefits lies with the Plan Spo isoJAII Plan <br />benefits are paid from the general assets of the Plan Sponsor. Unless in al emotive <br />method,oEpayment is mutually agreed upon by the parties, TASC Fee 'will be <br />collected from the Plan Sponsor via ACH.transaction and the Plan S ons r hereby <br />authorizes TASC to initiate credit/debit entries: to the bank accouLIC <br />n icated in <br />the Plan Application and further authorizes the Plan Sponsor s bao debit the <br />same to such account. If for any reason, TASC does not receive pet for any <br />TASC fees defined on the Application within ten (IO) busines da s of the <br />I <br />Expected Date of Receipt TASC may place all Plan processing or holt until all <br />past due TASC fees are paid. TASC reserves the right to charge a eas liable fee <br />for all debit entries that reject for insufficient funds or closed ccot nts. This <br />authority will remain in full force until TASC has received <br />from the Plan Sponsor of its termination of this authority in such tine apd in such <br />manner as to afford TASC and the Plan Sponsor's bank a reasona le opportunity <br />I <br />to act on it. It is understood that the purpose of this authorization is tol provide a <br />means of payment for the administrative services provided to the Ppan Sponsor by <br />25E-30 <br />i <br />
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