HomeMy WebLinkAboutResolution - 4589 - Contract- The Alliance Benefit Group Of Texas Inc- Employee Benefit Plan Service - 08_25_1994Resolution No. 4589
Item #18
August 25, 1994
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to
execute for and on behalf of the City of Lubbock a Contract for an Employee Benefit Plan
Service by and between the City of Lubbock and The Alliance Benefit Group of Texas, Inc.
attached hereto, which Contract shall be spread upon the minutes of the Council and as spread
upon the minutes of this Council shall constitute and be a part of this Resolution as if fully
copied herein in detail.
Passed by the City Council
ATTEST:
Betty M. Johnso City Secretary
APPROVED AS TO CONTENT:
L
Mary And s, Managing Director of
Human ReYburces
APPRO11 VED AS TO FORM -
Mad G. Van -diver, T irst
Assistant City Attorney
DOV:dp\o:bc \A11iance.Res
July 18, 19%
THE ALLIANCE BENEFIT GROUP OF TEXAS, INC. Resolution #4589
EMPLOYEE BENEFIT PLAN Item # 18
SERVICE AGREEMENT August 25, 1994
The undersigned Employer ('Employer') hereby retains The Alliance Benefit Group of Texas, Inc. (hereinafter referred to as 'TABG') to
provide services for the Employer's Employee Benefit Plan(s) upon and subject to the following terms and conditions:
TABG shall provide, as applicable, administrative services for the Employer's Plan. The various services of TABG and the fees ('Service
Fees') charged therefore are described in the Schedule of Services and Fees ("Schedule") attached hereto and made a part hereof. Where
applicable, addendum(s) attached to this Service Agreement are made a part hereof.
TABG shall have the right to modify the fee schedule at any time, provided, however, that TABG shall give the Employer notice of the
intended modification sixty (60) days prior to the date such modification shall become effective.
All invoices submitted by TABG are due and payable upon receipt. TABG may terminate this Agreement upon ten (10) days notice to the
Employer in the event the Employer fails to make prompt payment of charges or otherwise breaches this Agreement.
The Employer shall furnish TABG with all information required by TABG to perform its services hereunder. TABG shall rely entirely and
conclusively upon such information furnished by the Employer. Except to the extent that it may be contrary to the provisions of the Plan,
TABG shall have no duty to investigate the source or accuracy of such information or to question any action of the Employer, its agent, or
any trustee of the Plan. If any work must be redone because of incorrect data supplied by the Employer and/or its agent to TABG, the
rework will be charged at a minimum cost of 50 % of the charge designated in the fee schedule.
TABG makes no representation express or implied, with respect to interpretations by any government agencies which affect TABG's service
and performance. TABG only represents that its calculations are free of clerical error. In no event will TABG be liable for direct, indirect,
special, incidental, or consequential damages resulting from matters other than clerical error made by TABG.
The Employer hereby agrees that TABG shall not be liable to the Employer, Plan or any Participant for any losses or damages, whether direct
or indirect, arising out of this Agreement.
The Employer hereby agrees that all Fees and Penalty Charges levied by the Internal Revenue Service, Department of Labor or the Pension
Benefit Guaranty Corporation are the responsibility of the Employer or Plan and not TABG.
The Employer hereby acknowledges that TABG, except where otherwise specifically requested, shall be solely and exclusively responsible
for the routine administrative services for the Employer's Plan. If specifically requested TABG may provide certain consulting services with
respect to the Plan, provided, however, all legal, accounting, and tax decisions shall be made by the Employer's other professional
representatives. TABG shall have no power, authority, or control with respect to the management or disposition of the assets of the Plan,
nor any discretionary authority with respect to the management of the Plan, except where otherwise specifically agreed upon in writing. The
Employer further acknowledges that TABG is not, and therefore shall not be held responsible as, the Plan Administrator (as such term is
defined by Section 3(16) of the Employee Retirement Income Security Act of 1974) for the Employer's Employee Benefit Plan.
All notices or communications to be transmitted by TABG hereunder shall be sent to the Employer at this business address. This instrument
contains the entire agreement between the parties hereto, and no representation or statement not expressly set forth herein shall be binding
on either party in any respect.
The undersigned, on behalf of the Employer, hereby agrees to retain TABG to perform the annual administrative services.
Miscellaneous Services will be provided as requested at the rate specified in the then prevailing Schedule of Fees.
This Agreement shall be construed under and in accordance with the laws of the State of Texas, and all obligations of the parties hereunder
am performable in Travis County, Texas.
Any controversy between TABG and Employer arising under this agreement shall be resolved by arbitration pursuant to the Texas General
Arbitration Act, V.A.C.S. arts. 224 to 238-6. The nubefan entials of arbitrators and the criteria for selection shall be as mutually
agreed.
Plan Name:
Number of Addendums attached: 2
Accepted for: City of Lubbock
P.O. Box 2000
Lubbock, Texas 79457
Accepted for. The Alliance Benefit Group of Texas, Inc. By
2100 Northland Drive
Austin, Texas 78756
Authorized Signature
Authorized Signature
Date 08/25/94
Date
Schedule P 25.00
Schedule SSA 75.00
5558 Extension 75.00
990T 75.00
PBGC Premium Filing 100.00
PBGC Schedule A (per hour) 100.00
VII. REPORTING FOR FINANCIAL ACCOUNTING
STANDARDS BOARD
This service provides calculations of expenses as required
for the Employer's CPA or accountant. The fee for this
service will be billed on an hourly basis.
VIII. PLAN TERMINATION SERVICES
This service includes drafting the necessary plan
amendments, board resolutions and notices to participants,
preparation of the appropriate government forms for filing
with the IRS and PBGC, calculation of individual plan
benefits and preparation of election forms for each
participant. These services will be provided upon request
and will be billed on an hourly basis.
IX. REVIEW AND TAKEOVER FEES
In the event the administration of a plan already in
existence is taken over by TABG, services for the first
year will be charged on a per hour basis in accordance with
the rates contained herein. If a new plan document is
required, plan installation fees will be charged as described
herein.
X. MISCELLANEOUS SERVICES
Additional specialized services are available and include:
discussions concerning plan amendments; special actuarial
studies or valuations; interim asset valuations; calculations
of premiums, cash values and P.S. 58 rates; IRS or other
plan audits; telephone consulting. These and other
services not specified in this agreement shall be rendered
on an hourly basis and shall be billed directly to the
Employer as incurred.
TIME AND CHARGE RATES
Principal/Enrolled Actuary
$ 175.00/hr.
Systems Analyst
150.00/hr.
Actuarial Assistant
125.00/hr.
Consultant
100.00/hr.
Programmer
100.00/hr.
Technical Services
75.00/hr.
Pension Administrator
75.00/hr.
Clerical Support Staff
40.00/hr.
Copy of Reduction Services
Actual Charges
Enrollment Services
Travel Expenses
Overnight Delivery
Loan Origination Fee
Loan Continuation
or 0.25/Page
250.00/
Day/Enroller, Plus Travel
0.27/Mile or Coach Equivalent
Plus Per Diem
20.00
75.00
1.00/Month/Loan
Revisions of any statements or reports as a result of
incorrect, incomplete or late information from the
Employer will be charged at an hourly rate with a
minimum of 1/2 of the original fee charged.
2100 Northland Drive 0 Austin, Texas 78756
(512) 454-3718 0 (800) 477-4007
THE ALLIANCE BBVF.Fff GROUP
OF TERAS, INC.
EMPLOYEE BENEFIT PLAN
SCHEDULE OF SERVICES AND FEES
EFFECTIVE MAY], 1994
This schedule sets for the various services
provided by The Alliance Benefit Group of
Texas, Inc. (TABG) and the fees charged
therefore under the Service Agreement. As
such, it is an integral part of this Agreement and
must be read in connection therewith. The
employer may retain TABG to perform any one
or more of the services detailed herein.
THE ALLIANCE BENEFIT GROUP OF TEXAS, INC.
EMPLOYEE BENEFIT PLAN
ADDENDUM TO EMPLOYEE BENEFIT PLAN SERVICE AGREEMENT
The following fees, as stated in the Schedule of Services and Fees, shall be ( X modified) effective as of the date of
signature of the Employee Benefit Plan Service Agreement attached hereto:
Plan administrative service fees shall be $2.00/month/particpant with a $500.00/month minimum charge. plus
510.00/year/participant having insurance. All other applicable fees will remain as stated in the Schedule of Services
and Fees.
THE ALLIANCE BENEFIT GROUP OF TEXAS, INC.
Defined Contribution Document Checklist DVDOCCK.LST
Legal Name of Client
Physical Address :
Mailing Address:
City/State/zip :
City/State/Zip:
Phone: ( ►
Fax: ( 1
Employer Identification Number (Tax Number)
County :
Fiscal Year End
Business Entity: [ 1 Corporation [ 1 S-Corporation [ I Sole Proprietor I I Partnership 1 I ' Governmental Entity: note governing body,
l 1 Other: (Define in Notes) name & title of authorized document signers
Principal Contact:
Human Resource Contact:
Payroll Contact:
Corporate President/Owner :
Corporate Secretary
TRUSTEE(SI:
Narne(s):
Address:
City, State, Zip:
Phone: ( 1
Fax:( ►
AGENT:
Name:
Company:
Address:
City, State, Zip:
Phone: ( )
Fax: ( 1
CPA:
Name:
Company:
Address:
City, State, Zip:
Phone: ( 1
Fax: 1 1
Consultant: Date:
Plan Take Over Checklist
CLIENT NAME:
PLAN
.. ;; DETAIL
FIRST PAGE OF DOCUMENT CHECKLIST
COPY OF ALL PREVIOUS DOCUMENTS AND AMENDMENTS
COPY OF 5500 SERIES WITH ATTACHMENTS FOR PREVIOUS THREE YEARS
YEAR-TO-DATE CONTRIBUTIONS / DISTRIBUTIONS