Laserfiche WebLink
Plan numbers 305497, 100463 <br />8. Compensation and Payment <br />(a) Participant Fees. Plan participant accounts shall be assessed an <br />asset -based fee to cover the costs of record -keeping and other <br />services provided by MissionSquare, and other costs associated <br />with the Plans as directed by the Employer. The Employer shall <br />work with MissionSquare to determine the appropriate amount of <br />the gross asset -based fee to be charged to participant accounts, <br />which may be increased or decreased from time to time at the <br />direction of the Employer. At the inception of this Agreement the <br />participant fee shall be 0.365% <br />(b) Revenue Requirement. MissionSquare shall receive total annual <br />aggregate revenue of 0.365% of Plan assets under <br />MissionSquare's administration recordkeeping and other services <br />to the Plans. Such revenue shall be deducted by MissionSquare <br />from amounts collected through the application of the asset -based <br />fee described in section 8(a) prior to allocation of any participant <br />level asset -based fees to the Administrative Allowance Account (an <br />unallocated plan account, which may also be known as a "plan <br />level expense account") described is section 8(c) below. <br />(c) Administrative Allowance Account. Amounts collected through <br />the application of the asset -based fee described in section 8(a) <br />above in excess of the Revenue Requirement specified in <br />subsection 8(b) above, if any, shall be held in an Administrative <br />Allowance Account for each Plan (that is maintained as a Plan asset <br />by MissionSquare). Employer understands that the Plan <br />administrative allowance is to be used only to pay for reasonable <br />plan administrative expenses of the Plan or allocated to Plan <br />participants at the instruction of the Employer. If Employer makes <br />such a determination, Employer will direct MissionSquare in a <br />separate letter to send Administrative Allowance monies to such <br />consultants. <br />The payment will be made only from the above -referenced Plan's <br />Administrative Allowance Account. Should the amount in the <br />Plan's Administrative Allowance Account be insufficient to cover <br />the fee due, MissionSquare will seek written instruction from the <br />Plan or the Employer as to the amount to pay the consultant. For <br />processing purposes, the consultant may submit an invoice to <br />MissionSquare for payment of the fee; provided, however, that <br />MissionSquare will pay the consultant only as set forth above. The <br />consultant shall have no authority to calculate the fee amount, <br />MissionSquare Retirement Agreement 6 of 14 <br />