Benefit Plans Administrative Services 12/26/2018

City of Everett VEBA Plan BPAS Proposed Fee Plan Setup Fee Includes plan documents and assistance $0 with preparing IRS 1024 Recordkeeping In Invoice Plan Sponsor jn Charge Participant Accounts $5.00 per participant per month Platform Fee ? Received from Plan Assets 35% FSA Administration i No charge for VEBA participants; otherwise$1 PPPM. ) i � I assumptions recordkeeping fees based on approximately: $ 14. assets TBD by 11/2/18 participants k material change in the number of employees may result in an adjusted fee schedule. •he Platform Fee is offset by any revenue sharing received at the level of each mutual fund. • ervice Highlights • Recordkeeping • Debit Card ._ • HRAAdrninistration • MiobifeApp�` EN • FSA Administration • Online Services for Employees and Plan Sponsor * Trustee/Custodial Services • Quarterly Statements * Participant-directed Investment • Direct Deposit • Call Center • Full Compliance including Form 5500 and 990 he fine print:If required due to the scope or nature of a nonstandard request, hourly fees would be assessed at$125 per hour plus materi 3t cost)for the services requested(This rate includes time spent on conversion if the plan sponsor authorizes us to begin,then later cancel ne plan conversion).The above elections will govern the way fees are established on our recordkeeping system;changes may be made on rospective basis,but we will not reverse prior fees in participant accounts provided the instructions were followed correctly. *Many funds over the platform fee directly through various forms of revenue sharing,while others may not.To the extent a fund is utilized which pays k pan the platform fee,a "platform fee true up"will be charged to that fund to make up the difference(in monthly installments); if any funds ay revenue sharing in excess of the platform fee, BPAS will retain any excess. Revenue sharing figures are updated monthly based on currei ata from fund families,with an adjustment made automatically in the platform fee calculation.Signed Administrative Services Agreement 4SA)must be received from plan sponsor by recordkeeping effective date;without a signed ASA, BPAS will not have authority to trade new ontributions or implement a go-live date. Authorization The terms of the proposed fee schedule are acceptable to me. I have indicated how fees should be handled above. authorize BPAS to begin work on our plan conversion. wthorized Signature '' Date 'tint Name/Title �-�-- s �-"r � 4fr' � v--�f`-C: j/ 'lease fax a signed copy of this page to 315-292-6484, or email a PDF scan of this page to TrustSales@bpas.com.