Empower 3/9/2022 - Laserfiche WebLink

EMPOWER RETIREMENT Schedule of Services Services provided by Empower A. Recordkeeping Services - Core Services. The following services are core recordkeeping and communication services available to all plans. Implementation Services: Empower will provide the following conversion services prior to the receipt of assets: • Gathering initial plan information; • Coordinating conversion assets from a prior service provider; • Reconciling plan assets; • Loading records onto the recordkeeping system; and • Assisting Employer's payroll office or payroll vendor to process the next scheduled payroll to Empower on or after the implementation period. Implementation Period: Merging Plan: An existing Employer Plan that is converting to Empower will be subject to an implementation period to facilitate the movement of Participant, Alternate Payee and Beneficiary records and Plan assets from the prior record keeper and/or trustee to Empower. Blackout Notice Services: Initial Blackout Notices: Empower will assist in the preparation of the initial transition blackout notice and will provide the blackout notice to the Plan Sponsor for distribution to Participants, Alternate Payees and Beneficiaries, as requested by the Plan Sponsor.A"Blackout Period" is defined as any period of more than three consecutive Business Days during which the Participant, Beneficiaries and Alternate Payees are prohibited or restricted from exercising certain otherwise available rights, such as directing investment of their accounts, obtaining loans or making distributions. During the implementation period, Plan Sponsor's prior record keeper's improper reporting or incomplete transferred records may impact the blackout period end date. Such an impact may cause an extension of the blackout period, resulting in a second notice. Empower may agree to provide this additional blackout notice if the parties agree in writing. Future Blackout Notices: If mutually agreed to in writing, Empower may provide blackout notices to the Plan Sponsor for distribution to Participants, Alternate Payees and Beneficiaries for fund or other ongoing plan changes that result in a period of more than three (3) consecutive Business Days where the Participant, Alternate Payee and Beneficiary are restricted from exercising certain otherwise available rights such as directing investments of their accounts, obtaining loans or taking distributions. SAGWTPACOGOV0521 20