02-24-10 Council Agenda - Laserfiche WebLink

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ICMA-RC is already providing services ro your Plan, which may include enrollment and contribution processing, P)an recordkeeping and compliance, education and ocher services, including mutual Funds advised orsub-advised by ICMA-RC or an affiliated adviser which may he included as eligible Plan invesunenes. Bp executing this Agreement, you are authoriaing ICMA-RG ro provide investment advisory services under Managed Accounts. Managed Aecowtts maybe pl'OVlded Cht'OUgh tl1C Itttet')ret, on paper, or by an ICMA-RC associate over the celephonc a' through a face-ro-face meeting. ICMA-RC associates will continue to provide many of the same Plan and investment services [o the flan or Participants that he or she would otherwise provide, in the absence of Maataged Acconnes. However, pursuatrt to the Advisory Opinion, ICMA-RC associates will present the advice as determined under the investment methodologies and software developed by Ibhorson and may nor alter that advice. 4. Investment Advice Process From the investment options available ro Plan Participants, Ibhorson tvi11 select the funds to be included 'art the model advice portfolios under Managed Accounts. 1o be eligible for Managed Accounts or Feud Advice, the Plan must ae all times provide investment options which cover dte following required asset categories as determined by Ibhorson: US Nixed Income (Cash, US Shoro-eerm Bards or US Bards), US l:quiq~, and International lquiry. Ibboeson, as the IPL"", is solely responsible for determining the adequacy of the Plan's exposure ro ehe regttit'ed asset caregorics. ICMA-RC wil) notify you if available invesnnent options under your Plan fail to include one or more asset categories required for construction of dte Ibhorson model portfolios. On an ongoing basis, lbbotson will monitor ehe asset-class portfolios and the individual hrvestment options included in ehe model portfolios, and make changes as appropriate. With certain exceptions, any recommended changes arising from such monitoring will generally be implemented not snore frequently than quarterly. _ Participants with multiple ICMA-RC-administered accounts under the same Cmployer Plan and/or multiple ICMA-RC- administered accounts with different Cmployer Plans, have the option of individually selecting ehe accounts to which Managed Accounts will be applied. Cach Participant enrolling iu Managed Accounts will be assigned to Date of a fixed number of model advice portfolios based upon clte information provided ro ICMA-RC by the Plan and the Participant. As described in the Participant Agreement, a minimum set of data items will be required in order ro assign ehe Parrieipane co a model portfolio. These inchtde gender, date of birth, marital status,, employment status, salary, reriremenr plan account balances, current retirement plan savings rate, desired replacement retirement income, and desired probability of meeting or exceeding desired rcplacentent retiremeue income. Certain required information on Participant accounts is automatically pre-populated eo Managed Accounts by ICMA-IZC. Participants are responsible for providing xtxy other required ornon-required information, although "default' assumptions may be used for certain information. Additional information can be provided, by the Plan or the Paericipant, to further assist in ehe selecriar of the appropriate model advice portfolio, including additional information about dte Participant and/or the Participant's spouse and/or fantil}~, if applicable. This additional infornaacimt can include, but is not limited eo: Outside 1?Ian Assets: Account infa'ntation on non-ICMA-IZC defined contribution retirement and non-reriremenr accounts (i.e„ ~O1 and /57 plans, savings, retail brokerage), and ocher account information including but not limited to: account q~pe; account name; account balance; account holdings; etc. Retirement Plan boons: Details on outstanding retirement plan loans including but not limited to: maturity date; outstanding loan balance; repayment amount; interest rate; repayment Frequency; etc. Cash 1^low: Details on non-retirement plan cash flows including bur not limited eo: received inlrerieance or college tuition costs; cash Aow type (intone or expense); amount; college cost beginning year; college cost ending }year; etc. Ocher Benefits/Retirement Plan Ltformation: Ltcluding but not limited co: Lrfonnaeion on defined benefit pension plans or Social Security; start age; pension mondtly payment, social security monthly estimate; etc. In Formation About Your Spouse's Personal and Financial Situations: Ltcluding but nor limited to: Information on your spouse and his/her retirement and non-reriremenr accounts; dare of birds; annual savings rate; salary; account type; account name; accowtr balance; account 6otdings; etc. Participants will be permitted co enroll in Managed Accounts at any time. I-Iotvever, if a Participant previously terminated the - service with respect to a Plan, Ire or she muse wait at least until the next calendar quarter before re-muolling in the service fa' that Plan and may nor enroll more than two times in any 12anonth period. ~t\/ranaged Accounts Service Agreement A ICMA-RC 10