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ICMA-RC 1/8/2020
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ICMA-RC 1/8/2020
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Last modified
1/16/2020 9:44:32 AM
Creation date
1/16/2020 9:44:10 AM
Metadata
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Template:
Contracts
Contractor's Name
ICMA-RC
Approval Date
1/8/2020
Council Approval Date
1/8/2020
Department
Human Resources
Department Project Manager
Kandy Bartlett
Subject / Project Title
Restated and Amended Administrative Services
Tracking Number
0002163
Total Compensation
$0.00
Contract Type
Agreement
Contract Subtype
Professional Services
Retention Period
6 Years Then Destroy
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Plan number 301333 <br /> Employer, its agents or designees in accordance with the terms of this <br /> Agreement. Under the terms of this Agreement,ICMA-RC does not <br /> render investment advice, is neither the"Plan Administrator"nor"Plan <br /> Sponsor"as those terms are defined under applicable federal, state, or <br /> local law, and does not provide legal,tax or accounting advice with <br /> respect to the creation,adoption or operation of the Plan and its related <br /> trust.ICMA-RC does not perform any service under this Agreement that <br /> might cause ICMA-RC to be treated as a"fiduciary"of the Plan under <br /> applicable law, except, and only,to the extent that ICMA-RC provides <br /> investment advisory services to individual participants enrolled in Guided <br /> Pathways Advisory Services. <br /> (c) Employer acknowledges and agrees that ICMA-RC does not assume any <br /> responsibility with respect to the selection or retention of the Plan's <br /> investment options. Employer shall have exclusive responsibility for the <br /> Plan's investment options, including the selection of the applicable mutual <br /> fund share class. Where applicable,Employer understands that the VT <br /> Retirement Income Advantage Fund is an investment option for the Plan <br /> and that the fund invests in a separate account available through a group <br /> variable annuity contract. By entering into this Agreement, Employer <br /> acknowledges that it has received the Important Considerations document <br /> and the VT Disclosures and that it has read the information therein <br /> concerning the VT Retirement Income Advantage Fund. <br /> (d) Employer acknowledges that certain such services to be performed by <br /> ICMA-RC under this Agreement may be performed by an affiliate or <br /> agent of ICMA-RC pursuant to one or more other contractual <br /> arrangements or relationships, and that ICMA-RC reserves the right to <br /> change vendors with which it has contracted to provide services in <br /> connection with this Agreement without prior notice to Employer. <br /> (e) Employer acknowledges that it has received ICMA-RC's Fee Disclosure <br /> Statement,prepared in substantial conformance with ERISA regulations <br /> regarding the disclosure of fees to plan sponsors. <br /> (f) Employer approves the use of its Plan in ICMA-RC external media, <br /> publications and materials. Examples include press releases <br /> announcements and inclusion of the general plan information in request <br /> for proposal responses. <br /> 6. Participation in Certain Proceedings <br /> The Employer hereby authorizes ICMA-RC to act as agent,to appear on its behalf,and to <br /> join the Employer as a necessary party in all legal proceedings involving the garnishment <br /> of benefits or the transfer of benefits pursuant to the divorce or separation of participants <br /> in the Plan.Unless Employer notifies ICMA-RC otherwise,Employer consents to the <br /> disbursement by ICMA-RC of benefits that have been garnished or transferred to a <br /> 4 of 13 <br />
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