Administrative Services:
- Provide fully compliant administrative ministerial services.
- Coordinate and schedule Trustee meetings.
- Prepare a draft agenda for Trustee Meetings in consultation with the Trustees.
- Prepare the Administrator’s report, which shall include current disbursements from the fund and summaries of claims.
- Maintain a copy of the Fund’s official meeting minutes.
Bookkeeping Services:
- Deposit employer contributions and any other revenue or recoveries into the Fund’s bank or investment accounts in accordance with Fund policies.
- Record all contributions from contributing employers in order to create a payer contribution record.
- Record all contributions to individual participants’ records.
- Maintain the Fund’s record of delinquent contributions in accordance with the Fund’s policies.
- Prepare all disbursement checks for operating expenses for review and signature by the Fund Trustees.
- Upon the direction of the Trustees or specific policies implemented by the Fund, transfer funds for investment purposes and coordinate other bank related services.
- Maintain the Fund’s journals of disbursements and receipts, including cash receipts, as directed by the Fund and its designated auditor.
- Compile any existing data that the Fund may need for tax, regulatory, litigation or the Fund’s annual audit.
- Send all required notices to plan participants.
General Administration Services:
Maintain all files necessary for the administration of the Fund, including but not limited to correspondence, contracts and taxes but not including records of medical claims, which are not covered under this Agreement.
- Act as a liaison between the Trustees and the Fund’s actuary, auditors, attorneys and investment managers.
- Assist Plan Professionals in the distribution of Requests for Proposals for service providers, as directed by the Trustees.
- Answer Fund Trustees’ general inquiries regarding Fund activities or refer the Trustee to the appropriate service provider.
- Issue, on behalf of the Fund, notices, booklets, and correspondence that have been approved by the Trustees.
- Design all Fund forms and stationery, subject to the Fund Trustees’ approval.
- Provide an office at a convenient location that has all necessary facilities for the proper administration of the Fund.
Standard of Care:
We agree to make its best efforts in the performance of all of the services provided herein, in a sound and prudent manner and in accordance with the prevailing standards in the industry. The Third-Party Administrator also acknowledges that it has no discretionary authority or control over the Plan and Plan assets and is therefore not an ERISA fiduciary to the Plan. To the extent that the Third-Party Administrator does exercise any discretionary authority or control over the management of the Plan and the disposition of Plan assets, with respect to the services described herein, in accordance with Section 3 of the Employees Retirement Income Security Act (“ERISA”), 29 U.S.C. § 1002(21)(A) the Third-Party Administrator shall do so prudently, as if it were a fiduciary to the Plan and shall take all appropriate steps in order to comply with its fiduciary obligation, if any, whenever it may exist. 29 U.S.C. § 1002(21)(A)29 U.S.C. § 1002(21)(A)