Res 2015-067/PARS approval - Laserfiche WebLink

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AGREEMENT FOR ADMINISTRATIVE SERVICES This greement for Administrative Services ( "Agreement ") is made this day of t1 , 2015, between Phase II Systems, a corporation organized and existing under the la s of the State of California, doing business as Public Agency Retirement Services (hereinafter "PARS ") and the City of San Marcos, Texas ( "Agency "). WHEREAS, the Agency adopted the City of San Marcos PARS Section 457(b) Alternative Retirement Plan ( "Plan ") in conjunction with the PARS Benefit Trust ( "Trust ") with PARS, as Trust Administrator to the Trust, to provide administrative services. WHEREAS, by written resolution and pursuant to Sections 1.1 and 2.1 of the Trust, the Agency's governing body has appointed by position or title a Plan Administrator to act on its behalf in all matters relating to the Plan and Trust ( "Plan Administrator"); WHEREAS, pursuant to Section 3.3 of the Trust, the Agency has the power to delegate certain duties related to the Plan, and PARS accepts those duties pursuant to the terms contained in the Agreement, and that this Agreement represents the entire delegation of duties to PARS from the Agency with regards to the Plan; WHEREAS, PARS accepts the teens of this Agreement with the understanding by the Agency and Plan Administrator that PARS does not hold custody of any assets of the Plan, and does not have any independent authority or discretion for the investment, distribution or escheatment of Plan assets without the express consent of, and direction from the Plan Administrator. NOW THEREFORE, THE PARTIES AGREE: 1. Services. PARS will provide the services pertaining to the Plan as described in the exhibit attached hereto as "Exhibit IA" ( "Services ") in a timely manner, subject to the further provisions of this Agreement. 2. Fees for Services. PARS will be compensated for performance of the Services as described in the exhibit attached hereto as "Exhibit 1 B ". 3. Payment Terms. Payment for the Services will be remitted directly from Plan assets unless the Agency chooses to make payment directly to PARS. In the event that the Agency chooses to snake payment directly to PARS, it shall be the responsibility of the Agency to remit payment directly to PARS based upon an invoice prepared by PARS and delivered to the Agency. If payment is not received by PARS within thirty (30) days of the invoice delivery date, the balance due shall bear interest at the rate of 1.5% per month. If payment is not received from the Agency within sixty (60) days of the invoice delivery date, payment plus accrued interest will be remitted directly from Plan assets, unless PARS has previously received written communication disputing the subject invoice that is signed by a duly authorized representative of the Agency. 4. Fees for Services Beyond Scope. Fees for services beyond those specified in this Agreement will be billed to the Agency at the rates indicated in the PARS standard Page 1