HomeMy WebLinkAboutICMA Amendment AMENDMENT
TO THE
City of Oshkosh, Plan Number 300037
This Amendment to the Administrative Services Agreement ("Ag~
Number 300037 (the "Plan") is entered by and between the City of Oshkosh
("Employer") and ICMA Retirement Corporation ("RC"), effective as of the date of
execution by the Employer below ("Execution Date").
WHEREAS, the Employer sponsors the Plan on behalf of its eligible employees and
retirees; and
WHEREAS, the Employer entered the Agreement to engage RC to provide
administrative services and investments for the Plan under the terms specified in the
Agreement; and
WHEREAS, the parties wish to amend the Agreement to provide for the elimiation of the
Plan Administration fee, Account Maintence fee and Mutual Funds fee paid with respect
to the Plan under the Agreement contingent upon RC acting as the exclusive provider of
administrative and investment services for the Plans over the term of the Agreement;
and
WHEREAS, Section 10(a) of the Agreement provides that the Agreement may be
amended pursuant to a written instrument signed by the parties;
NOW, THEREFORE, the Agreement is hereby amended as follows:
FIRST
The following is added as a new section 3 of the Agreement, and the current
provisions of the Agreement is re-numbered accordingly:
Employer agrees that for the initial or succeeding term of this Agreement
specified in Section 10, so long as RC continues to perform in all material
respects the services to be performed by it under this Agreement,
Employer shall not obtain plan administration and investment advisory
services from anyone other than RC. Employer acknowledges that RC
has agreed to the compensation to be paid to RC under this Agreement in
the expectation that RC will be able to offset costs allocable to performing
this Agreement with revenues arising from Employer's exclusive use of RC
at the rates provided herein throughout the initial or succeeding term.
SECOND
Re-numbered section 7 of the Agreement, titled "Compensation and Payment" is
amended by replacing subsections (a) and (d) with the following:
2
(a) Plan Administration Fee. The amount to be paid for plan administration
services under this Agreement shall be as $0.00.
(b) Account Maintenance Fee. There shall be an annual account
maintenance fee of $0.00.
(d) Mutual Fund Services Fee. There is an annual charge of 0.0%
assessed against average daily net Plan assets invested in the Trust's
Mutual Fund Series.
THIRD
Re-numbered section 10 of the Agreement, titled "Term" is amended to provide
as follows:
This Agreement shall be in effect for an initial term beginning on the
Execution Date and ending 7 years after the Execution Date. This
Agreement will be renewed automatically for each succeeding year unless
written notice of termination is provided by either party to the other no less
than 60 days before the end of such Agreement year.
In all other respects, the Agreement is hereby ratified and affirmed.
IN WITNESS WHEREOF, Employer has caused this Amendment to be executed by its
duly authorized officer this ~ (¢¢'~ day of :~¢-.-¢~ ~,-, 2003.
CITY OF OSHKOSH
Title: ~ ~4~_
ICMA RETIREMENT CORPORATION
by:
Paul Gallagher
Corporate Secretary
P OVED