02-24-10 Council Agenda - Laserfiche WebLink

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Upon enrollment in Asset Class Guidance or Fund Advice, a Plan Participanr may use dtese services as often as desired, in dte manner (and subject m any limitations) described in the Participanr Agreement or Terms and Conditions document. A Participant enrolling in Managed Accounts or Advice will receive a statement summarizing cite data provided to ICMA-I2C eltat was used to formulate the a<h'ice, and if accessing the service over the Internet, will be given an opporwniry m correct or modify that data before the service is initiated. Tltercafcer, the Participane can revise, add, or change his or her data ax any time. Participants enrolled in Managed Accounts will be contacted a least annually regarding this information, and may speak with an 1CMA- 12C associaee at any time. A comprehensive review of the Managed Accounts portfolios will be performed at least annually by Ibbotson, and xhe accounts will be rebalanced quarxerly. Participants arc responsible fur eoneaeeing ICMA-}2C with any new rn revised informazion thae may warrant an additional review of the account. Allocaeion m reallocations may be limited by the Plan or by the underlying iuvcsnnent. Such limitations will be ealcen into account by Tbhotson in the development and intplemeuration of the advice. 5. f arficipanY Costs Participants who enroll in Managed Accowtts are assessed an asset based fee that is charged on a monthly basis based on chc month-end average daily account baiancc in Managed Accounts. 'T'he Managed Accounts fee will be calculated as a percentage of the account value and applied to the accouttt as a fixed dollar amount "I"hc Managed Accounts fee covers only our advisory fee for allocating and reallocaeing assexs in participants' accounts and does not cover any other fees or expenses associated with these accounts ittduding underlying muntal fund and plan adminisnaeion fees. The standard Managed Accounts Pee Schedule is presented below and is also detailed fn elte Participanr Agreement. , First $25,000 0.60% Next $25,000 O.SS% Next $50,000 0.45% Nezt $IS0,000 0.35% Over $250,000 0.25% "1'he Managed Accounts Pee will be deducted pro-rata against all investtnenee in any account inducted in Managed Accounts. Ianployer hereby directs that these costs be withdrawn from Parriclpaut accounts. You will be provided az least )0 clays' advance weiaen notice of any change in the race of fees assessed to Participant accounts. Pecs will be assessed ro Participanr accounts on a pro-rata basis among invesements.'1"here is no cost assessed to the Employer or ehe Plmt for offering Managed Accounts. ICMA-RC will charge a standard $20 annual fee to Participants using Fund Advice, t-lowever, certain parxicipancs, such as those in the Premier ProgramT^^, can utilize ehe Fnnd Advice service for no charge. The tired annual fee will be charged to the Participane's aceoune following enrollment and will entitle ehe Participant m use of the service for atwelve-month period. 1=or each succeeding twelve-month period for which the Advice service is initiated or coruirnied, the Participanr will be required xo re-enroll and pay the annual fee in order to continue receiving the service. Participants are not charged any additional fees for using Asset Class Guidance under Guided Pathways. 6. No Guaranfee Employer understands, acknowledges and accepts that ehe advice provided hereunder relies on historical performance and odter data, ail ofwhich have limitatiats. Past performance of investments is uo guaramee of future results. "1"hc analysis and advice provided depends upon a numbee of factors, including the iuforrnadat provided by ehe Participant, various assumptions artd esrintares and other considerations. As a result, the wealth forecast developed and advice and recommertdations provided are no guarantees that a Participane will achieve his or her retirement goals or anticipated teem ns. You understand xhax there remains a risk of loss widtin eligible investment options. 7. Form ADV Part II of ICMA-RC's Porm ADV ("Brochure"), a portion of ICMA-Tic's SL'C adviser registration statement, coneains additions( iuformatiou about ICMA-I2C and our advisory services. By encoring into [Iris Agreement, you represent that }'ou have received and reviewed a copy of the Brochwe. tf. Limitation of Liability Xou understand and agree that there is no gttaranree that the rccottunendations made by ICMA-RC pursuant to the invesunenr methodologies and software developed by Ibbotson will be successful. Nm~ can ICMA-RC ensure chat a Parcieipan[ will achieve Managed Accounts Service Agreement 5 ICMA•RC 11