HomeMy WebLinkAbout2043 MOU SCSO & Victim Service CenterAmendment
to
Service Provider and Custodial Agreements
The Service Provider and Custodial Agreements (collectively the "Agreements") by and between
City of Sanford ("Employer") and VALIC Retirement Services Company ("Service Provider") and
AIG Federal Savings Bank ("Custodian") for services with respect to the City of Sanford 457(b)
Deferred Compensation Plan, an eligible deferred compensation plan, established pursuant to
Section 457(b) of the Internal Revenue Code of 1986, are hereby amended effective January 29,
2019, as follows:
1. Appendix A to the Agreements is amended as follows:
A. By the addition of the following investment options:
MassMutual Select Mid Cap Growth R5 MGRFX
Victory Sycamore Small Company Opp R GOGFX
Wells Fargo Special Mid Cap Value A WFPAX
B. By the deletion of the following investment options:
MassMutual Select Mid Cap Growth I
MEFZX
Victory Sycamore Small Company Opp I
VSOIX
Wells Fargo Special Mid Cap Value Inst
WFMIX
C. To reflect updated information regarding investment options, including but not limited to
changes to the name, investment objective, fees or reimbursements relating to one or more
of the investment options.
D. A copy of Appendix A as hereby revised is attached to this Amendment.
2. Employer hereby directs Service Provider and Custodian to exchange the shares invested in the
funds listed under Column A below to the corresponding funds listed under Column B below.
The Employer also directs Service Provider and Custodian to invest new contributions in the
funds listed under Column B that would have previously been invested in the corresponding
funds under Column A until the participant changes such investment election.
Column A Ticker Column B Ticker
MassMutual Select Mid Cap Growth I
Victory Sycamore Small Company Opp I
Wells Fargo Special Mid Cap Value Inst
71920_001 _Amendment_012919
MEFZX
MassMutual Select Mid Cap Growth R5
MGRFX
VSOIX
Victory Sycamore Small Company Opp R
GOGFX
WFMIX
Wells Fargo Special Mid Cap Value A
WFPAX
This Amendment shall remain in full force and effect until termination of the Agreements in
accordance with the terms and conditions therein.
SAVE AND EXCEPT as specifically amended herein, the terms and conditions of the Agreements
shall remain in full force and effect.
IN WITNESS
authorized rept
Signature
, the parties have caused this Amendment to be executed by their duly
SERVICE PROVIDE
ignature ,
Print Nal e:\JP
�" � � !Io c Print
Title:
Date:
Title:
Date:
t)
71920_001_Amendment_012919 2
GSA
Appendix A
to
Service Provider and Custodial Agreements
Effective January 29, 2019
Available Investment Options
VALIC receives 12b-1 fees and recordkeeping fees from mutual funds or their affiliates as shown
below for administrative and shareholder services. The 12b -I fees and recordkeeping fees received
from the fund families will be deposited into Participant Accounts as described in the Service
Provider Agreement.
71920_001_Amendment 012919
Amounts Paid to
VALIC from
Fund Family
Fund Name
Asset Category
Ticker
Symbol or
CUSIP Number
12b-1
Fees
Record
keeping /
Admin Fees
1 American Funds 2010 Trgt Date Retire R6'
Target -Date 2000-2010
RFTTX
0.00
0.00
2 American Funds 2015 Trgt Date Retire R6'
Target -Date 2015
RFJTX
0.00
0.00
3 American Funds 2020 Trgt Date Retire R6'
Target -Date 2020
RRCTX
0.00
0.00
4 American Funds 2025 Trgt Date Retire R6'
Target -Date 2025
RFDTX
0.00
0.00
5 American Funds 2030 Trgt Date Retire R6'
Target -Date 2030
RFETX
0.00
0.00
6 American Funds 2035 Trgt Date Retire R6'
Target -Date 2035
RFFTX
0.00
0.00
7 American Funds 2040 Trgt Date Retire R6'
Target -Date 2040
RFGTX
0.00
0.00
8 American Funds 2045 Trgt Date Retire R6'
Target -Date 2045
RFHTX
0.00
0.00
9 American Funds 2050 Trgt Date Retire R6'
Target -Date 2050
RFITX
0.00
0.00
10 American Funds 2055 Trgt Date Retire R6'
Target -Date 2055
RFKTX
0.00
0.00
11 American Funds 2060 Trgt Date Retire R6'
Target -Date 2060+
RFUTX
0.00
0.00
12 American Funds Europacific Growth R6
Foreign Large Growth
RERGX
0.00
0.00
13 Fidelity® Contrafund®
Large Growth
FCNTX
0.00
0.25
14 JPMor an Equity Income R6
Value
OIEJX
0.00
0.00
-Large
15 MassMutual Select Mid Cap Growth R5
Mid -Cap Growth
MGRFX
0.00
0.15
16 PIMCO Foreign Bond (USD -Hedged) Instl
World Bond
PFORX
0.00
0.00
17 PIMCO Total Return Instl
Intermediate -Term Bond
PTTRX
0.00
0.00
18 Vanguard 500 Index Admiral
Blend
VFIAX
0.00
0.00
-Large
19 Vanguard Inflation -Protected Secs Adm
Inflation -Protected Bond
VAIPX
0.00
0.00
20 Vanguard Mid Cap Index Admiral
Mid -Cap Blend
VIMAX
0.00
0.00
21 Vanguard Real Estate Index Admiral
Real Estate
VGSLX
0.00
0.00
22 Vanguard Small Cap Index Adm
Small Blend
VSMAX
0.00
0.00
23 Vanguard Total Bond Market Index Adm
Intermediate -Term Bond
VBTLX
0.00
0.00
24 Victory Sycamore Small Company Opp R
Small Value
GOGFX
0.50
0.20
25 Vo a SmallCap Opportunities I
Small Growth
NSPIX
0.00
0.25
26 Wells Fargo Special Mid Cap Value A
Mid -Cap Value
WFPAX
0.00
0.55
27 Schwab PCRA
Brokerage Window
SPCRA
0.00
0.00
28 IVALIC Fixed -Interest Option'
71920_001_Amendment 012919
` Funds that will be the default investment options for the Plan based on the table below. The default
investment options will be used for any contributions received on behalf of a participant who does not have
investment elections on file with Service Provider. To the extent that a participant's date of birth has not
been provided to Service Provider at the time an account is established, the participant's contributions will
be invested in the model below corresponding to an age of 99 years until the participant changes such
investment election.
Fund
American Funds 2010 Trgt Date Retire R6
American Funds 2015 Trgt Date Retire R6
American Funds 2020 Trgt Date Retire R6
American Funds 2025 Trgt Date Retire R6
American Funds 2030 Trgt Date Retire R6
American Funds 2035 Trgt Date Retire R6
American Funds 2040 Trgt Date Retire R6
American Funds 2045 Trgt Date Retire R6
American Funds 2050 Trgt Date Retire R6
American Funds 2055 Trgt Date Retire R6
American Funds 2060 Trgt Date Retire R6
Ticker
Participant Date of Birth
RFTTX
Before 1948
RFJTX
From 1948 through 1952
RRCTX
From 1953 through 1957
RFDTX
From 1958 through 1962
RFETX
From 1963 through 1967
RFFTX
From 1968 through 1972
RFGTX
From 1973 through 1977
RFHTX
From 1978 through 1982
RF1TX
From 1983 through 1987
RFKTX
From 1988 through 1992
RFUTX
After 1992
A VALIC group fixed unallocated annuity (policy form GFUA-3/15, also referred to as GFUA-315).
Transfers from this annuity contract shall be subject to a contractually imposed 90 -day "equity wash"
limitation, meaning that transfers out of this Fixed -Interest Option may not occur to a "competing option," as
defined in the annuity contract, for 90 days after such transfer from the Fixed -Interest Option. In the event a
fund selected by the Employer has closed due to fund -company action and the Employer or its authorized
Plan representative has not selected a new fund, for any contributions received on behalf of a participant who
is participating in such fund; and, where required for the current account balances in the unavailable find,
Employer hereby directs Service Provider and Custodian to transfer such amounts to this investment option.
In the event a fund selected by the Employer has been merged with another fund due to fund -company action
and the Employer or its authorized Plan representative has not selected a new fund, for any contributions
received on behalf of a participant who is participating in such find, and, where required for the current
account balances in the merged fund, Employer hereby directs Service Provider and Custodian to transfer
such amounts to the surviving fund of the fund merger.
VALIC represents The Variable Annuity Life Insurance Company and its subsidiaries VALIC Financial Advisors, Inc.
and VALIC Retirement Services Company.
71920_001 _Amendment_012919
Amendment
to
Service Provider and Custodial Agreements
The Service Provider and Custodial Agreements (collectively the "Agreements") by and between
City of Sanford ("Employer") and VALIC Retirement Services Company ("Service Provider") and
AIG Federal Savings Bank ("Custodian") for services with respect to the City of Sanford Money
Purchase Plan, a plan established pursuant to Section 401(a) of the Internal Revenue Code of 1986,
are hereby amended effective January 29, 2019, as follows:
1. Appendix A to the Agreements is amended as follows:
A. By the addition of the following investment options:
MassMutual Select Mid Cap Growth R5
MGRFX
Victory Sycamore Small Company Opp R
GOGFX
Wells Fargo Special Mid Cap Value A
WFPAX
B. By the deletion of the following investment options:
MassMutual Select Mid Cap Growth I
MEFZX
Victory Sycamore Small Company Opp I
VSOIX
Wells Fargo Special Mid Cap Value Inst
WFMIX
C. To reflect updated information regarding investment options, including but not limited to
changes to the name, investment objective, fees or reimbursements relating to one or more
of the investment options.
D. A copy of Appendix A as hereby revised is attached to this Amendment.
2. Employer hereby directs Service Provider and Custodian to exchange the shares invested in the
funds listed under Column A below to the corresponding funds listed under Column B below.
The Employer also directs Service Provider and Custodian to invest new contributions in the
funds listed under Column B that would have previously been invested in the corresponding
funds under Column A until the participant changes such investment election.
Column A Ticker Column B Ticker
MassMutual Select Mid Cap Growth I
Victory Sycamore Small Company Opp I
Wells Fargo Special Mid Cap Value Inst
71920_002_Amendment_012919
MEFZX
MassMutual Select Mid Cap Growth R5
MGRFX
VSOIX
Victory Sycamore Small Company Opp R
GOGFX
WFMIX
Wells Fargo Special Mid Cap Value A
WFPAX
This Amendment shall remain in full force and effect until termination of the Agreements in
accordance with the terms and conditions therein.
SAVE AND EXCEPT as specifically amended herein, the terms and conditions of the Agreements
shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly
authorized representatives►
EMPLOYER:
Signature
Print Name:
Title: ubuQ-
Date:
71920_002_Amendment_012919 2
SERVICE PRO
>r
Appendix A
to
Service Provider and Custodial Agreements
Effective January 29, 2019
Available Investment Options
VALIC receives 12b-1 fees and recordkeeping fees from mutual funds or their affiliates as shown
below for administrative and shareholder services. The 12b -I fees and recordkeeping fees received
from the fund families will be deposited into Participant Accounts as described in the Service
Provider Agreement.
71920 -002 -Amendment -0 12919
Amounts Paid to
VALIC from
Fund Family
Fund Name
Asset Category
Ticker
Symbol or
CUSIP Number
12b-1
Fees
Record
keeping /
Admin Fees
1 American Funds 2010 Trgt Date Retire R6'
Target -Date 2000-2010
RFTTX
0.00
0.00
2 American Funds 2015 Trgt Date Retire R6'
Target -Date 2015
RFJTX
0.00
0.00
3 American Funds 2020 Trgt Date Retire R6'
Target -Date 2020
RRCTX
0.00
0.00
4 American Funds 2025 Trgt Date Retire R6'
Target -Date 2025
RFDTX
0.00
0.00
5 American Funds 2030 Trgt Date Retire R6'
Target -Date 2030
RFETX
0.00
0.00
6 American Funds 2035 Trgt Date Retire R6'
Target -Date 2035
RFFTX
0.00
0.00
7 American Funds 2040 Trgt Date Retire R6'
Target -Date 2040
RFGTX
0.00
0.00
8 American Funds 2045 Trgt Date Retire R6'
Target -Date 2045
RFHTX
0.00
0.00
9 American Funds 2050 Trgt Date Retire R6'
Target -Date 2050
RFITX
0.00
0.00
10 American Funds 2055 Trgt Date Retire R6'
Target -Date 2055
RFKTX
0.00
0.00
11 American Funds 2060 Trgt Date Retire R6'
Target -Date 2060+
RFUTX
0.00
0.00
12 American Funds Europacific Growth R6
Foreign Large Growth
RERGX
0.00
0.00
13 Fidelity® Contrafund®
Large Growth
FCNTX
0.00
0.25
14 JPMor an Equity Income R6
Large Value
OIEJX
0.00
0.00
15 MassMutual Select Mid Cap Growth R5
Mid -Cap Growth
MGRFX
0.00
0.15
16 PIMCO Foreign Bond (USD -Hedged) Instl
World Bond
PFORX
0.00
0.00
17 PIMCO Total Return Instl
Intermediate -Term Bond
PTTRX
0.00
0.00
18 Van ward 500 Index Admiral
Large Blend
VFIAX
0.00
0.00
19 Vanguard Inflation -Protected Secs Adm
Inflation -Protected Bond
VAIPX
0.00
0.00
20 Vanguard Mid Cap Index Admiral
Mid -Cap Blend
VIMAX
0.00
0.00
21 Vanguard Real Estate Index Admiral
Real Estate
VGSLX
0.00
0.00
22 Van uard Small Cap Index Adm
Small Blend
VSMAX
0.00
0.00
23 Vanguard Total Bond Market Index Adm
Intermediate -Term Bond
VBTLX
0.00
0.00
24 Victory Sycamore Small Company Opp R
Small Value
GOGFX
0.50
0.20
25 Vo a SmallCap Opportunities I
Small Growth
NSPIX
0.00
0.25
26 Wells Fargo Special Mid Cap Value A
Mid -Cap Value
WFPAX
0.00
0.55
27 ISchwab PCRA
Brokerage Window
I SPCRA
0.00
0.00
28 IVALIC Fixed -Interest Option'
71920 -002 -Amendment -0 12919
' Funds that will be the default investment options for the Plan based on the table below. The default
investment options will be used for any contributions received on behalf of a participant who does not have
investment elections on file with Service Provider. To the extent that a participant's date of birth has not
been provided to Service Provider at the time an account is established, the participant's contributions will
be invested in the model below corresponding to an age of 99 years until the participant changes such
investment election.
Fund
American Funds 2010 Trgt Date Retire R6
American Funds 2015 Trgt Date Retire R6
American Funds 2020 Trgt Date Retire R6
American Funds 2025 Trgt Date Retire R6
American Funds 2030 Trgt Date Retire R6
American Funds 2035 Trgt Date Retire R6
American Funds 2040 Trgt Date Retire R6
American Funds 2045 Trgt Date Retire R6
American Funds 2050 Trgt Date Retire R6
American Funds 2055 Trgt Date Retire R6
American Funds 2060 Trgt Date Retire R6
Ticker
Participant Date of Birth
RFTTX
Before 1948
RFJTX
From 1948 through 1952
RRCTX
From 1953 through 1957
RFDTX
From 1958 through 1962
RFETX
From 1963 through 1967
RFFTX
From 1968 through 1972
RFGTX
From 1973 through 1977
RFHTX
From 1978 through 1982
RFITX
From 1983 through 1987
RFKTX
From 1988 through 1992
RFUTX
After 1992
A VALIC group fixed unallocated annuity (policy form GFUA-3/15, also referred to as GFUA-315).
Transfers from this annuity contract shall be subject to a contractually imposed 90 -day "equity wash"
limitation, meaning that transfers out of this Fixed -Interest Option may not occur to a "competing option," as
defined in the annuity contract, for 90 days after such transfer from the Fixed -Interest Option. In the event a
fund selected by the Employer has closed due to fund -company action and the Employer or its authorized
Plan representative has not selected a new fund, for any contributions received on behalf of a participant who
is participating in such fund; and, where required for the current account balances in the unavailable fund,
Employer hereby directs Service Provider and Custodian to transfer such amounts to this investment option.
In the event a fund selected by the Employer has been merged with another fund due to fund -company action
and the Employer or its authorized Plan representative has not selected a new fund, for any contributions
received on behalf of a participant who is participating in such fund, and, where required for the current
account balances in the merged fund, Employer hereby directs Service Provider and Custodian to transfer
such amounts to the surviving fund of the fund merger.
VALIC represents The Variable Annuity Life Insurance Company and its subsidiaries VALIC Financial Advisors, Inc.
and VALIC Retirement Services Company.
71920-002—Amendment-0 12919