HomeMy WebLinkAboutGREAT-WEST FINANCIAL-RETIREMENT 1Almno t�ant Note; Service Agreement Amendments, Pricing Change Agreements, and other contractual
documents must be duty executed by both parties prior to the effective date of the changes.
Backdating contracts or funding agreements is in violation of our corporate governance and regulatory
requirements. Changes cannot be implemented prior to the date all documents are fully executed,
even if that requires the effective date to be postponed. There are no exceptions to the rule that the
effective date must follow the date all documents are executed.
1 1 1. 1.:.
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Attached to and Forming part of
•- a-a a a a
§457 Deferred Compensation Plan
GROUP 11
THIS AMENDMENT NO. 1 is entered into by and between Great -West Life & Annuity Insurance
Company ( "Great- West "), and/or any successor, assign or affiliate, and the City of Santa Ana ( "Plan
Sponsor") with respect to the services to be provided by Great -West to the City of Santa Ana 457
Deferred Compensation Plan ( the "Plan ").
Effective September 3, 2014, Great -West and the Plan Sponsor entered into the Agreement for
Recordkeeping and Communication Services ( "Agreement"), under which Great -West provides certain
recordkeeping and communication services for the Plan Sponsor with respect to the Plan; and
The Agreement was for a term of one year with an option for one additional year. Following the
expiration of the original term, Great -West, with the Plan Sponsor's consent, continued to provide
services under the Agreement to the Plan Sponsor; and
For administrative efficiencies, Great -West and the Plan Sponsor have agreed that it would be mutually
beneficial to amend the Agreement for the purpose of exercising the above option and continuing the
Agreement through the end of that calendar quarter during which the option year expires.
NOW THEREFORE, in consideration of the covenants and conditions herein contained, and
other good and valuable consideration as herein provided, the parties agree to amend the
Agreement as follows;
1. Section IX Ag[glei lent Term and Termination is amended to extend the term of the Agreement
up to and including September 30, 2016.
1 The first paragraph of Section X.A.1 Amount of Fee is amended to read In its entirety:
An annual Recordkeeping and Communication Fee of 0.10% of total Plan Account and
Participant account balances, excluding loan balances, is payable to Great-West. The annual
Recordkeeping and Communication Fee shall increase to 0.18010 if the Plan Sponsor elects to
migrate all participant account balances presently In the Great West Guaranteed Government
Fund to the T. Rowe Price Stable Value Fund. This increase will take effect upon the
completion of such migration. The annual Recordkeeping and Communication Fee shall
remain 0,10% if the Plan Sponsor does not make this transition.
31 Except as modified by this Amendment No. 1, all terms and conditions of the Agreement shall
remain in full force and effect.
4. This Amendment No. 1 will take effect upon the date executed by both the Plan Sponsor and
Great -West.
City of Santa Ana 12 -8 -15
IN WITNESS WHEREOF, the partles have caused this Amendment No. 1 to the Agreement to be
executed, in duplicate, by their respective officers and agents thereunto duly authorized.
For The City of S nta
Signature:/
Name: "L�G,V \
Title: GLV\ 6kl Q �
For Great -West Life & Annuity Insurance Company
Signature:
Name: arent Neese, Sr Vice President
Gavarn_
onj
are s
Title:
Attest
Signature:
Name: Maria D. Hulzar
Title: Clark of Council
Approved as to Form
Signature:
Name: John 9 Funk
Title: Assistant City Attorney
City of Santa Ana 12 -8 -15
Date
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