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2001 010 Ordinance
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2001 010 Ordinance
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Last modified
11/19/2018 4:08:49 PM
Creation date
9/10/2018 4:58:37 AM
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Template:
Legislation-Meeting Minutes
Document Type
Ordinance
Number
010
Date
5/21/2001
Year
2001
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05/14/01 12:31 FAX PHIL BRETT ? LAw DIR Z004 <br />.?'iVALIC <br />* An Ameficm Grncal Companv . <br />ADMINIS'TRATIVE SERVICES AGREEMENT <br />This Agreement ds made and entered into by and between. <br />(the "Employer") and The Variable A.nnuity Life Insurance Company ("VALIC"), a Texas corporation, <br />on this day of, 19 <br />ARTICLE I - PURPOSE <br />The Employer maintains a deferxed tomgensation plan (the '•Plan"). In the interest of ecoriomy and efficiency, rhe <br />Employer deems it desieable to contract for admir?istraCive services peetaaning to_ accounting for deferrals; disburse- <br />ments of funds, proper reporting to participanes acid the Internat Revenue Seiwice, and withhoiding of taxes, if applica- <br />ble. Therefure, the Ernployer designatet VALIC its, agenc to perform the. secvices outlined. in this agreement- and, <br />deposit income tax amounts as reyuired by iaw. VALIC's undertaking to provide administrative services heretinder is <br />timited to those arnounts of defecred compensation under the Plan that the Emptoyar, has.invested in.annuily contracts. <br />issued by VALiC. <br />ARTICLE II -1)EFIPIITIONS <br />As uscd in_this agreement, the follovving definitions shall apply unkss the context indicates_otherwise: <br />2.1 Agent -'fhe Variable.,a?nnuity Life 3nsurance Compaay ("VALIC:'). <br />2.2 Annuity Contract -'Ihe groiap or individual annuity contrace between the Employer and dALIC. <br />2.3 Employer - • <br />Employer Name <br />Employer Addmss ' <br />2.4 Participaeit ? An emptayee or independent contraccor of the Employer electing to panicipate in ttie Plan. - <br />2.5 Plan -'9'he Defe:red Gompensation PIa?a. <br />Mame of Plav? <br />(eheclc one te?low): <br />a. a 457(b) or "eligible" defecred. campensation. placz described under section 457 of ehe Internal. <br />Revenue Code of 1986. as amended. <br />ti. a 457(f) or "ineligible°" deferred. compensation. ptan sponsored. by a. tax. exeanpt or <br />governmental organiration. <br />c. anon-qualified (top hat) deferred.compensatioa.plansponsoced by a.for-profit organizaEion, <br />ARTICLE III - RESPONSIBYLITIES OF EMPLQYER <br />3.1 7be Etnployer shall complete and sign all fornes necessary for VAd.,1C's appointment as agent with the <br />Intecnal Revenue Service, or where appticable, those forms thac nelease- VALIC of sa}d appoenement. <br />3.2 The Empfoyer shall notify VALIC in writing of atl Patticepant information requested by VqLIC, including,, <br />but not limited to, age, social security number aisd beneficiary information. <br />3.3 The Employer shall dinect VALIC to make beneGt payrnents under tlte Plan in accordance with the annuity <br />option specified by. the Emptoyer and shall supply VAI,IC with the aznount of the aceount to be distributed: <br />3.4 The Employer shall be responsible for approval of all requests for unforeseeable emergency withdrawals <br />under the Plan and direct V:4I.IC to make approved disbarsemehts in amounts specified by the Emgloyer. <br />.. ??r? _0 7 <br />. 3-c)nv•;•^ }.e? <br />W?l <br />09-D 2,001-10
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