02-24-10 Council Agenda - Laserfiche WebLink

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the applicaVle IVbotson model on a discretionar}• basis without seclcing the Participant's approval for each u~ansaction. 1"he entire accoune Valance of any accoune designated for participation in Managed Accounts muse Ue allocated to Managed Accounts. Pareicipants nutst agree eo provide financial and ocher information ns reasonably requested by ].GMA-RC and to inform ICMA-RC - lmomprly of any changes in eheL cirautzsrances in order ea assist ICMA-RC in the development anti management of an invesemenr ~ snmcegy char is suiraVle:uui appropriate ICMA-RC will noeify Parricipanrs quarterly ro conraa ICMA-RC regarding any changes in their financial situation, employment staeus or invesunent objectives and will contact Participants ar lease anmtally ro determine whetter any such changes have occurred a whether Parricipanrs wish eo impose any reasonable rasrricrions on their ateounts which are nor fuudantenrdly inconsistent wish titers invescmem objeceives or ehe nature a' operaeion of Managed Accounts. ICMA-RC personnel IutowledgeaUle about the management of dte Pauicipant's account will be reasouaUl}' available ro respond to Participant's inquiries. Participants will tcceive qua; telly staeements eonsiseing of all acnvn}' m [heir accounts, including fees and expenses as well ~ as the beginning and ending value of rho account for the relevant period, and will receive copies of confirntarions of any transactions in their accounts. Ltitially and at least annually thercafccr, Participants are given an opportunity to review and confirm the accuracy and completeness of dte information upon which r6cir advice is based. When appropriate, Vut normally on a quarterly basis, eligible assets in the Participant's account will Ue rebalanced bacle to nc~ currentl}• recommended model advice portfolio. Because ICMA-RC has disa~etionary aurha'ity croer the Participant's account under Managed Accounts, certain Puticipuu-directed accouur transactions orberwise available ro the Participant, such as transfers of existing accoune balances and changes to htnu:e contribution allocaeimts, syseematic or orberwise, will not Ue processed until the Participant has terminated participation in Managed Accounts. Participants stay terminate participation in Managed Accounts ar any time at their discretiat. 1'hc Managed Accounts program does nor provide advice fa' assets in self-directed Urokcrage accounts, certificaees of deposits, or certain ocher invescmern options. I-Iota'ever, while only ICMA-RC administered reeiretncnt }clan assets are managed, ocher assets (i.c., spousal assets, brol<crage accounts, etc.) can be taken ineo consideration fa• the purpose of determining the appropriate allocation for the rctn'emene plan accoune ro the extent drat ehe Partieipane has provided information about such assets. Certain invesentene options within yow~ Plan may charge a redemption fee on specific transactions. "Pransactions initiated Uy IC,MA-RC tinder Managed Accounts ma}' result in such redemption Pees Ueiug charged m Pareicipants. An}' applicaVle redemption fees mdll Ve deducted directly G~ont the Participants' nccounrs. Managed Aecounes may not Ve suitable for all invesrors. Parricipantr should conraa our Guided ]'nehways`"" team or titers ICMA- RC Retirement Plans Specialist and folly read the ICA4A-12C Guided Pathwa)ees' Fund Advice a;ad Mmrrtged Aecozxtats Lzvesnttetrt AdvisorpAy;eentmrt prior ro enrolling in iv4anaged Accounts to determine if this service is right for them. Asset Class Guidance and Fund Advice Both Asset Clrtss Guidance anti FrttadAdvica sere csrrerztly offered to v:ost Participants. These services are offererl directly through /GMA-RC i.zz coujnrtctiort tvitb IGGotsort as the IFE. ICMA-RC applies vtethodologies developed, tnaintaiszed arzd overseers by XGGotsorz. The Pkzrx is tzot charged aszy additioztal fee fns allotvirzg these s¢rvices to be offered to Participants. Asset Class Guidance Asset Class Guidance provides "point'-in-rime" assee allocaeiott recontmeudaeions eo Pareicipants looking for assistance in selecting their retirement plan btvescrueuts. Asset Class Guidance does not provide fund specific recommendations.'T'hese individualized asset allocation recommendations iron ICMA-RC may Ve provided through dtc•. interact, on paper, or by an ICMA-RC associate over the telephone or dvrough face-ro-face meetings with an ICMA-RC asoeiaee. ICMA-RC creates ehe asset • allocation recommendations by applying meehodology developed, maintained and overseen b}' Ibbocson. Assee allocaeion recommendations are Vased upon a wealth forecast that takes lino accouur noe only the Participant's Plan accouur values and contribution rates, Uut also, to the extent provided Uy the Participant and relevant' to dte forecast, other assets held Vy the Parricipent or the Parcicipanr's spouse or family member, anti personal information oErie Participant-including Uue noe limited eo, dare of birch, antlcipaeccf or aceunl elate of retirement, ere.'1'he wcahlt forecast reflects the resoles of Monet Carlo simulations ro deecrntinc the probaVle resole of various acount allocations, savings rates, etc. 'T'he Participant may elect whether to use this service, and if so, wheel and bON• oPeen ro use it. The Pareieipant will Ve responsible for implenteuring any asset allocation ru:ontmendations Uased on the ordinary means availaUle wider the Plan (i.e., eransfer of accoune Valances), and for subsequent monimring or review of the account and of the accuracy of information utilized in arriving ar rbc asset allocation recommendation. Managed Accounts Service Agreement 2 ICMA-RC 8 M