2000-23858 RESO
RESOLUTION NO.
2000-23858
A RESOLUTION OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE AN AMENDMENT TO THE EXISTING
AGREEMENT BETWEEN THE CITY OF MIAMI BEACH AND THE
ICMA RETIREMENT CORPORATION TO PROVIDE THE PERSONAL
CHOICE RETIREMENT ACCOUNT PROGRAM (PCRA), AVAILABLE
THROUGH ICMA'S ARRANGEMENT WITH CHARLES SCHWAB, INC.
FOR THE CITY'S ELIGIBLE EMPLOYEES; FURTHER AUTHORIZING THE
CITY'S FINANCE DIRECTOR TO COMPLETE THE SCHWAB PERSONAL
CHOICE RETIREMENT ACCOUNT PLAN APPLICATION BROKERlDEAL.
WHEREAS, two (2) companies, PEBSCO and ICMA, currently provide the City of Miami
Beach with a 401 (Money Purchase) Plan and 457 Deferred Compensation Plan; and
WHEREAS, the City is desirous of establishing a program offering eligible employees
access to a wider selection of mutual funds to expand their retirement portfolios; and
WHEREAS, ICMA offers such a program, the Personal Choice Retirement Account
(PCRA), available through its arrangement with Charles Schwab, Inc.; and
WHEREAS, the Administration would recommend the amendment of the existing
agreement to provide the PCRA for the City's eligible employees;
NOW THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA that the Mayor and City
Commission hereby authorize the Mayor and the City Clerk to execute an amendment to the
existing agreement between the City of Miami Beach and the ICMA Retirement Corporation to
provide the Personal Choice Retirement Account Program (PCRA), available through ICMA's
arrangement with Charles Schwab, Inc. for the City's eligible employees
and further authorize the City's Finance Director to complete the Schwab Personal Choice
Retirement Account Plan Application BrokerIDeal.
PASSED AND ADOPTED this 12th day of
April
,2000
~fJ1
MAYOR
ATTEST BY:
OA~
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
./jj{ 1j!J~ 3.- J-j-OC/
City Atto'l!d .... Date
F:\HUMAILABORREL\AMH\COMMEMO\RESOPCRA,WPD
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
http:\\ci.miami-beach.fl.us
COMMISSION MEMORANDUM NO. ~O
FROM:
Mayor Neisen O. Kasdin and
Members of the City Commission
Lawrence A. Levy ~
City Manager
DATE: April 12, 2000
TO:
.
SUBJECT:
A RESOLUTION OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE
MAYOR AND CITY CLERK TO EXECUTE AN AMENDMENT TO THE
EXISTING AGREEMENT BETWEEN THE CITY OF MIAMI BEACH AND
THE ICMA RETIREMENT CORPORATION TO PROVIDE THE
PERSONAL CHOICE RETIREMENT ACCOUNT PROGRAM (PCRA),
AVAILABLE THROUGH ICMA'S ARRANGEMENT WITH CHARLES
SCHWAB, INC. FOR THE CITY'S ELIGIBLE EMPLOYEES; FURTHER
AUTHORIZING THE CITY'S FINANCE DIRECTOR TO COMPLETE THE
SCHW AD PERSONAL CHOICE RETIREMENT ACCOUNT PLAN
APPLICATION BROKER/DEALER.
ADMINISTRATION RECOMMENDATION
Adopt the Resolution.
ANALYSIS
Currently, two (2) companies, PEBSCO and lCMA, provide the City of Miami Beach with a 401
(Money Purchase) Plan and 457 Deferred Compensation Plan. ICMA has a new program to offer
access to a wide selection of mutual funds through Charles Schwab. This program would be of
interest to individuals who want to expand their portfolios beyond the limited number of funds
offered by ICMA.
There are certain requirements for those ICMA participants who wish to invest in this PCRA
program. Participants must have a minimum of$25,000 in funds offered by ICMA Retirement Trust
before opening an account. In addition, participants must maintain at least $20,000 in these "core"
funds. As long as $20,000 remains in these "core" funds, participants can invest their remaining
assets in the Schwab account. The minimum investment is $5,000.
Under Schwab, there are over 1,300 individual mutual funds available. Participants in the program
are limited to investments in mutual funds.
AGENDA ITEM C. 1 ~
DATE~
Commission Memorandum
April 12, 2000
Page 2
The program is designed so that participating employees bear the ultimate responsibility for their
own investments. During the emollment process, participating employees will sign a disclosure
designed to make clear that they are solely responsible for their investment choices and to release
the employer and ICMA from liability for any losses or other adverse consequences.
There is no cost to the City for offering this PCRA program. Only employees who participate will
pay additional fees. lCMA will charge the equivalent of their management fees and plan
administration fees from assets in PCRA. There is a one-time set-up fee of $50.00, as well as an
annual fee of $50.00. Schwab may charge fees for trading mutual funds. For example, there may
be front-end load fees and transaction fees for no-load funds. However, Schwab does offer a large
number of no-load funds to which no fees apply.
In order to participate in this PCRA program, two (2) documents must be signed:
I) A Letter Agreement between the City of Miami Beach and the lCMA Retirement
Corporation to provide the Personal Choice Retirement Account available through
Charles Schwab for eligible employees of the City of Miami Beach. This letter amends the
existing agreement between the City ofMiarni Beach and ICMA. The authorized official is
Finance Director (and Plan Coordinator) Patricia Walker.
2) Schwab Personal Choice Retirement Account Plan Application BrokerIDealer. This
document should be signed by Patricia Walker.
Our e~~~ing agreement with ICMA and PCRA program information are attached for your review.
LAL:MG: W:
F:\HUMAU.AB~/ 0 O\PCRAWPD
Enclosures
;
CITY OF MIAMI BEACH
.!
1700 ConvenOon Center Drive, 3rd Floor, Miami Beach, Florida 33139
htIp:\\d.miaml-beach.ft.us
OfIIce of Labor Relations
Telephone (305) 873-7000, X8589
FacslmU' (305) 873-7023
August 31, 2000
A. E. Dunston, Senior Implementation Analyst
Attn: Implementation Analyst
777 North Capitol Street, NE, Suite 600
Washington, DC 20002-4240
Dear A. E.:
Attached please find the completed letter agreement and the Schwab Personal Choice Account Plan
Application. Please process this request and call to inform our institution when we can start
distributing applications for the plan.
Thank you in advance for your assistance with this matter. If you require any additional information
regarding this matter, please do not sitate to contact me directly at (305) 673-7000 ext. 6211.
Sincerely,
\~\.\\~ .
Mary Greenwood
Executive Assistant to the City Manager/Labor Relations.
MG: vpm
\\CH2\SYS\HUMA\LABORREL\VPM\LETTERS\Stepllen Cypen Letter Qf3.).OO.doc:
c: Patricia Walker, Finance Director
March 1, 2000
777 ~orlh CJpltol Slreef. NE
Washington. DC 2000t.4240 . . ", .
1.202.962.lSOO . ,.' :.\ "';',
FAX 1.202-982.4601. ;)l.~'
Toll Fro. 1.800-889.7400 ',!I"i!#R'
Int.rnar: hl1P:llwww.icm;JlC.Org . .:1:-: . ,
"
Mary Greenwood
Exec. Asst. to-City Manager
City of Miami Beach
1700 Convention Center Drive
Miami Beach, FL 33139
.~}
RE:
ICMA Retirement Corporation Account Numbers 109219 and 303294
"
.~
:"-'
';
Dear Ms. Greenwood:
"-".
V'Ie are pleased that you have elected to offer the Personal Choice Retirement AccoLtn.l
(PCRA) Program to your employees participating in the ICMA Retirement Corpo'ratio,,::.
Money Purchase and Deferred Compensation Plans. r' ..) .~
;; ...
Enclosed is everything you need to begin implementing the PCRA Program:
Complete the following documents and return them to RC in the enclosed
postage-paid envelope or to: ICMA Retirement Corporation. Attn: Implementation
Analyst. 777 North Capitol Street, NE . Suite 600 . Washington, DC 20002-4240.
1. The two Letter Agreements are to be signed by the person authorized to execute
documents for your plan. Please retain one original for your files and return one
original to RC.
2. Please complete the Schwab Personal Choice Retirement Account Plan Application
Broker/Dealer. The application should be signed by all named plan trustees, or in the
event the "employer" is the named plan trustee, the named "plan coordinator" should
execute the document
Section 1.
Please complete in full.
Section 2.
Please complete in full.
Section 3.
Complete this section if you want duplicate statements and/or confirmations for all
PCRA transactions related to your plan.
ICMA RETIREMENT CORPORATtON
The public S8Nlce VantagepolOt since 1972
leMA-AC Si!l'Jlces. Inc. is a controlled affiliate of me leMA Retirement Corporation. Member NASa and SIPC.
Page 2 of 2
Mary Greenwood
March 1, 2000
"
Section 4.-
You must choose whether participants will be permitted to invest in Schwab's entire
array of mutual funds, only the OneSource Funds (no loads or transaction fees) or
only the funds you specify.
Section 5.
Your trustee must initial by A., B., and C. in order to give ICMA Retirement
Corporation the authority to act as your third party administrator for this plan.
Section 7.
You must check the box and complete the first two lines.
Signature Page
Your trustee and co-trustees (if any) must sign and date this page.
Please note we must receive a separate original application for each of your RC plans
for which you are adding the PCRA Program. Keep one copy of the completed form for
your records before returning the original(s) to RC.
Retain the following documents for future reference:
The Schwab Account Agreement
and
The Broaden Your Horizons Brochure
Upon receipt of the above referenced materials, we will mail you written confirmation that
your PCRA program has been established. After receiving confirmation, please call your
RC Marketing Representative to coordinate the distribution of PCRA materials to your
employees.
Please contact me or Brenda Proctor at 1-800-326-7272 with any questions you may
have concerning the PCRA Program adoption materials.
Sincerely,
t/ {])~~Jv
A. E. Dunston
Senior Implementation Analyst
/
Enclosures
cc: Mr. Fernando de Aguero, Territory Director
Mr. Antonio Vilallonga, Retirement Plans Specialist
Mr. Chris Baker, Product Manager
'IJ'::Y"
. .,'.. ,....
. ~~~f;~~_~ _,' .:/
-....';,.""'.
..,',-,';J,","
.,
February 22, 2000
..
m North C.lpitol SIr.ol. NE
Washington. DC 20002-4240
J.202.962-4600
FAX 1.202.962-4601 ..;/
Toll F..ol-8OlHl69.74002
Internet: httJJ:/Jwww.icmarc.arg.~' .
.'
Mary Greenwood
City of Miamt Beach
1700 Convention Center Drive
Miami Beach, Florida 33139
RE: Plan Number 303294
Dear Ms. Greenwood:
This letter agreement will serve to amend the existing Agreement between
City of Miami Beach (the "Employer") and the ICMA Retirement Corporation
("RC") to provide the Personal Choice Retirement Account program
("PCRA"), available through RC's arrangement with Charles Schwab, Inc.,
for Employer's eligible employees ("Accountholders").
The existing Agreement between Employer and RC is hereby amended as
follows:
1. Employer desires to make available the PCRA for its employees to be
administered by RC. The details of the PCRA shall be as mutually agreed
between Employer and RC, but in general shall be as set forth in the
. PCRA program materials developed by RC and Charles Schwab and
provided to Employer.
2. Absent an explicit provision to the contrary, fees and expenses payable
by Accountholders shall be as set forth in the PCRA program materials.
Fees and expenses shall be payable from PCRA assets, assets of the
ICMA Retirement Trust or both, as the case may be, in accordance with
the requirements of the PCRA program as set forth in the PCRA program
materials.
3. Each Accountholder will receive a consolidated quarterly stater:nent
providing information for any deferred compensation plan, qualified plan
or PCRA account maintained by each Accountholder and administered by
RC. With respect to the PCRA program, the quarterly statement will only
show beginning and ending PCRA balances for that quarter.
4. Tax withholding and reporting will be provided by RC for each PCRA
Account administered by RC.
.'
ICMA RETIREMENT CORPORATION
The public service Vantagepoinl since 1972
leMA.AC SilViees. Inc. is a controlled affiliate of the leMA Aelirement Corporation. Member NASO and SIPC.
5. The details of RC's administration of the PCRA program, as well as other
features of the PCRA program, shall be as set forth in PCRA progr,am
.
materials. The PCRA program materials are hereby incorporated by
reference-and made a part of this Agreement, except that Employer and
RC may from time to time mutually agree in writing to terms that vary
from the PCRA program materials.
If City of Miami Beach finds these terms agreeable, please so indicate by
having the appropriate person sign and date this letter agreement in the
space indicated below.
Very truly yours,
R~I
Paul GallagHer
y
Corporate Secretary
fItl\~.. ~8L ~_'I>&~
, Auth ized Official
/ ~/'31 (00
Date
Agreed:
2
.'
,--
'-"30 '3,q fJ 1
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f f ~ ~ f.~ $ ~ ~ ~. ~ ~ f' i :. ~ ~ ~ ~ r ~ . ~ ,. . ~ t ~ ~. ~ ~. ~ ~ ~ " ;. . < ~ '. ' ;- " . .~ <. ~ ~ ~ )
,';!. 'ScHwAB PERSONAL'. CHOICE 'RETIREMEN1\Accoum"'. ., '
: ~'.' ....'i,. :. ~ '~. .. ~. ~_, ~ ~ <. ~ \. ~ \ .~,,. ~. '. .~. '.,. ',.. ":'."', ',. ~ '" . ,. ". ~ ' .,. ',. '.. ... ~ ", , :',. ~., .. \.~' 1, ': ",.. . ", . :..',..
~'\\MUrUAt ~Ft.lNDS;'ONLYPfAN APPLICATION~BROKER/DEALER
. "~ ~l -;...~ ~ '~ ~ 1, ~; '" ~ '.., .:~ ':C, ... ~ .~. t; ',. '. -: ' ., . ..',.. '~l .~. " !" ...
Pl_ .oiO~The SchW2b P=.D.1l Choice R=ent A",OUll! (PCRA) ne<=iu,,, the use of 1 Third-Pmy Adminisrn,or (le' SeeDon 5). Opening 1
?CRA. docs aoc cscblish ~ retlrC11enc pho. but cerri.6.::s due you ut using:l. plm document due :UloW"l you co condua bwmo.s JC Cl1uio Scb~-:h & Co.,
Inc. (Sch"",b).
Does yout pl.a.a document poemc the Trustee(s) to condua bwineSl l' Charles Schw:ab &: Co.. lnc.J
g'y= 0 Ho
II 00, S~w:ab is llII.able to accept this ACCOllIl.t Appliccioa.
1. Please tell us about the business sponsoring your retirement plan.
Busi..,~ ~unc: .
ri~y of Miami Beach
.3~.~ 7u GJ :--4ur.:'lbc
23-09-329871-54C
24 Please tell us about your retirement plan.
?~.,~'....~e(z:',;h.auLJ;jp?e.:::"""du~u"() Citv of Miami Beach 401A 457
P~,u[DNu.--:ilie'!1"='"?O"'"f?U'7OW) 109219 and 303294
?!.1."'."UUi..-,g.\cd:=-s ] 700 Convention Center Drive
C:oy/Sc[e!Zip Mi ami Beach. Florida 33139
O:m: ?!.In ;;:::::L:snec 19 9 5
?!.w Canoe: N~e Ms. Marv GreenwooG.,
Exec.
F-.x ( 3 0 5 ) 673 - 7 5 2 9
Asst. to City Manager/Labor Relations
Phoce ( 10 5
673-7000 Ext. 6211
Type of P!oln:
[J ?:-OCt Siur...n.; n Mocey ?..tr:~e Ii O6e:' Qu.ili.5ed ?~
13'4-01 13457 CJ Nooqw.liE.ed Plm Note: r~ lPplic.:con ~ be '.lSe:: tor 457 Pl.:r.s ....'1d non~ed plms or.h .....r.ce ~ u:: hdd irl.l Trust.
?t:::se Wt T ruste:(s) wbo will be ::ondu~-.n.g bt.:Si:l= lC Schw:.c on o-::-..ui' at :,,"'e ?!.:....... For :no~ du.., 5ve T:usc:-=:, ?j~e ;:::-..u;" l... ;:cci:::orul ~he:t 'Nl.t..,
ci::eir ::.;.me:, ufdn::::se=o md phoae a~. ?\.::::.se spe:::i..~ Xlow my pubLiciy l:"lded COIT'.;:....J.';' O[wruc:::. ~ 7:-'.lSt.."":: otc.;,e T~:.s.. d.i.-:::::or. l~r,; dureholde:'
or polic!-aub.ag omc::" md a.ny ~C'...me:"f fu:n. bm-'.. c-..lSt or 1.r.n.:...",-"c.: corr.p:o..,y W"tth wr.Jc:, : T:"..:.s:.:.: 11 -==Sed. ~~ 7 :-~:~ J..~,C CJ- T:-..:ste: mUSt
~ 'Nnc:-: mci.iated 1C Se::::oa 9.)
,,,,,,..', Nun. City of Miami Beach Tc""",:, Phon, (305 )673-7000 ext.
o Ditec-.o! 010% 5hm:holce: ~olieY-M'JcngOEe'" CompwyNun, Citv of Miami Beach
Amli=d wid!: 0 Sccuricy Firm 0 &nl: 0 INS! Comp..,y L1lruurwe, Compwy
A.Ililimd Comp"'y Nun.
621
(~"u"utd 011 pag' 2)
FOR CHARLES SCHWAB USE ONLY
o NYSE 0 SEC 1+-1 0 NR.A 0 AK..\ 0 C"'-S E.\IPL
Reg'-S::":l.col"i~cie
lndex l.S Doc..:rnene Numbc:r
PT
1,4,5,6,7.52,67
t."prov.d by
N""e of Approve:- (pi"')
0.", Approved
B""ch Ollie.
"\CCOW'lt N umbc:
P!J.n [) Numb<r
Cunp,j~ Cod.
RPSPP
CItulesSdnvab
Retiretl1ent Plan SeNices
.'
Cl'" Cu.Ia Sdl-o Ie Ct. _. ,\11_ -"""'" Mo:abo:r SU'C,..'Y2. au :OlIO Illl.''''''..o'""
MlCnS7Sl""'"
S,ectIon 2 ~
c...Tnad~'1 N..... (jf~)
o Oircclar 0 10% Shueho/dcr 0 Policy~1 O&cr
~d willi: 0 Sccuriry Finn 0 Bank 0 TI\ISl c:omp....,
A8iIiolcd Comp2ny N.",e
Co-TlIIllCc', PbOClC (
')
~':5,!~igt,
Cocn9"'Y N.mo
o lnsur2ncc Company
"
c... Trussaa'. Nama (if "PI'1~1J:)
o Du.:ctor 0 10% Slureholder 0 Policy-MilinS Ofiic.,.
AJliIj.,ted wid!: 0 Security Fi:m 0 Bonk 0 Trust CompUlY
.A..5li.aced Company Nune
Co- T rwtee' s Phone (
CompUlY N"",
o tnsunnce Cclmpmy
c..- Trusse,', N.m, (if "PI'I~I,)
o Du.:aor .0 10% Slurehoider O'Poli<"!-I"bJcing Ofiic:r
.-Imli"ed 'Hith: II Sec-.1r."! Finn 0 Bonk 0 T""" CompUlY
.-Imli.<ed CompUlY N=
Cc- T !UStee' s Phone (
CompUlY N"",
[J Imur..n,. CompUlY
c..- Trus".', Nam, (if "PI'1i&.-:h1J:)
o Dir::::'::or 0 10% Siur:nolde:- 0 ?olic"f-:'vWc.'lg OEce:
AJliIj.,red wid!: 0 Secur:ty Finn [J Ilank 0 T rusl ComFUlY
.~ed CompUlY N""e
Cv-7:ust.::'. ?hone (
Comp.my N:une
o lr.sUl'2nce Col":"'~.my
3. How do you want your Participant accounb establishe<l at Schwab?
PCR.".s will be c:soblished for i.ndividwl Putic:i~a unda cl:is .~e.:1c. Sch PU'ic?--"'lt ~ ri~ a ?lttici?~"'lt .Lr.titd ?~w~ o( ....c:or::.~ ~'='OA.)
wb.i6 ,onems me tc::::ns wd condiciotU u.oder wr..i6 Sc.::~ will1c: 00 6e ~t:'Uc:lons ot::he ?~cipm.t. By execuc.ng c.his Schw.h Penorul Choice
R.&cironenc Account. Mutw.l. Funds Only PLm Appliccion. you 1Ut.b.OOz.e Sc.hv.n.b 1:0 u: on i.cs:rJctioc.s ~6ved oc. Qch such L?OA. 00 ~~e tc::ns md
c::Icdicions sc:: &,rth in Se60n 8.
P1c:uc indic:ltC i.a~ pwe:s you wish co :luthori.:e to rcc:ive duplioce SQcemcnc and/or coc.Emucioas ror ill Po....-\s rd..ted to dti.s P!.an. PIes.: ,.o.oce
~ Trusce<c:(s} ~d P!:m Spoasor will ooc ~.::ve iliis int'OrnuOon 1Jl'1e:;:s indic.:.ted bdow. 4
N~ lCMA Retirement Coporation
~777 N. Capital Street NE
Ciry/Sate/Zip Washinqton, DC
~ut=a 0 Cocfum>ciOlU
N=e 0 Sutcmcna 0 Con6tm>ciolU
hdd=s
Ciry/Sate/Zip
Name
o Su~~e~~ 0 Corultm;1COns
hdd.-=
City/Sate/Zip
All uninvested osh hdd in Pat.\s 'N'ilI be ::aUCOrNcQ]ly u,....ested in c:he Sch~ Money ~et Fund.
For mon: complete infotTTl2con ;abouc the Schw::ab Money ~et f...md including durges ::and ~Crud, plc:::u.c red the enclosed prospectUS.
Banch Olliee
^"COWlt Number
-
....'
4. Tnldlnll M.nu.
1:.......(0) acl:aawIedcc thallhcy .... rapo..a.le lilr dclcnnininc whclhcr "'Y employ... scauiG.. _y be oequiml by 1 PCRA ';;thOUl IOlll"Mine 1
viabcion olSeclio.. 406 or 407 o(ERISA ",d thaI Schwab sIWI have JIO relpolllibiliry ro make such detmninacio..
All PCRAa """;'locI willi cbe PIa.. h.... chi Ibiliey to cnda:'
TIX-Eump' MuDJ:IJ Mmd
MunW Funds: All =ep' cb"", wntten below 0 OneSoureeiSehw:>bn.nd3 only'
I ^ punc:iPUlt will never be re:::ria.ed &om selling .1 posicion Ii the PUn ctungo d1e IT.l.diog menu.
1 Mun.ul Fund OneSourtc. Funds U1d Sc:hw.bFunds hJ.vC' no JO.1d.s U1d no C"1ZUJc::tion fea. SchW2b an elfc,: purdwe: l.Od ~dc::npoons of s~ of d1e:e
fUnds wuhouc cfurglng " ~:Jon fee bcC1we we teCl:1ve remWle::oon from me n:gisce~d inve:cnenc corn.pmy :.ndl or Ie uSute for sc::"''''o renrle:d
in COMc:c::10n with Ute MuruJ.! Fund Onc:Sourc:.: sCMce. The: :-::munenaon u based on the net:we:: 'n.!uc: of cer~ ~i'ur::s ildd :.n Sc;,w2b cUSl:omer:;'
brox.e..~ "C,ounC3. Further :n(omuaon IS "v.U.bble upon ~que:t.
NONE
FundlSecLlrity Oes,ription
CUSIP
Symbol
lJ.e (aLlowing: ~:"lC:J.oru .Nil! ~uccm..mo1ly be coded on ill ?C::t. 4..::
. No ~~ on ~ or "tnde lW:l.Y" ~de:.
. No dc?01:IC or 'N'lt.,d.~wili by Pl!t1C?~CS em:) or oue ofPCR.-\J.
. No i.nv~enc i..-:. '~.::aec.bi~. SJC'....:.:":::::. ::'::::'r'_"':':c..ii::.c:. ?::'=cow mc:::.ili or :::.:..~::.c===.:.
S. Please tell u. about your Thi,.,j-Party Administrator.
T'~--d-?:".':'1:'.dmini.sc-..ror(T?\) IC:!...~ Rec:.r2r.l.enC C,Jr?or:a~ion
Cn ris 8aker
17.\ Conc.c.: N:une
0300-3'::' 57
.YUste:' .\c.::~unr Nurnbc:'
,'Uiling .\dd=
777 ~or:h Capitol Street, ~E
C~r/Sc;te/~,?
~ashi~g:an, D,C., 20002-~:~O
?,ono( 202) 962-8076 !'-,;t( 202 ) 962-4601
By signing thi:s Application. the Tro.n.e-e(s) aci::::1owied.g-:(s) dut ::be TPA wiIJ re<:::iv~ duplic~ fQte:::Je:H.s wd con&:n.aaon.s. and w1Il
b.::lve the ability to a.llooc.e money to/from a pl.a..o.-level account from/to Parti.cip-a..at accouna u well u to iAsttUC: Scb.'oO.b with r:spect
to the csublis.hm~nt Uld O'1.3.intetunce ofPutic::p'1D.t 1CCOunc:: i:ndudiag pl'oces.ring addreu c.b.ange::s. -
If the T~(s) does/do DOt wish to provide these powe:"1 c.a the T?A.. SchW':lo is unable to acc!:?t ch.i.s Account Applic:ltion.
W.llt 1dd.iciowl powe:::J ~ve ciJe Trust.:~{s) ddcgu:cd CO ~~ 7?\?
(?kau iniri.:l rjj/ tMt JF?iy. Tf'.t!ut mJ :Ul c,... T,....uu~ iisrd in ~ort 2 m~t Inlti.o1.1.)
T"",~ Co-Trust:e'a
,
^- \\\ Co
B. ~
C. ~ - - - -
k.d.y =ling i.n=ctiOlU. TP.\ must '0"'1'1"'0 LPO"- (S<< Sec::ion 6.)
Instruc: Sc.1.~ co disbun.: P1.ut lUnds to U1 1CCOUCt, ~~ co the ?1.m T ruste~{s) :u xhW'lb or
Ulotha ti.-u.nCJJ woruco.a., WitbdnW":l.1. ?owe~ of .\cromc:y (W"PQA)
Auth.or-i.ze Schww :0 dduc:: 17.\ f~ 4nC e.;c:x::.s~ from pb..."l.levd lC:::lllm 15 ci..",,:-=:.=-i by T?:\.
Branch Ot5e,
Aceount Number
....'
S. Umlt.od P_.r of Atto"",y (U'OA) to bot rnd and ,'gned by the Third-Party Administrator.
Chllri<!s Schwab & Co.. Inc.
Third-Party Administrator Ag...m.nt
ibirO-Pany AdminiIrmar (I1'Al ",d Xhw>h ~ cn.r lh< .ulhanry caNcrr<d
by iii< Limlccd Power o( Altom<\' (tPOAj Aurhanz>oon on rhU (ann dull b<
cxm:iscd in JCcon:bnce wich the roDowinc tcrrnJ 2nd candicions. .
Authoriz::l'tJon to Trade for Brok.rage Account
TP ^ ~:y pbcc tnding orden [or the Brohngc Account punU~nt to r.h~
LPO^ AuthoriI:acon 111 Seenon 9. The Trustee nuy rl:'VOl::e d'lc LPOA ~t 111)'
amc by givinG: W'n1Ic:n noace (0 Sc.."t'N':lb. TP ^ ~c not to oke UlY JCo.oru
du( e:u:e-c:d ia mthomy under :.he LPGA or:lJ1v oth('~ ~-=cmem bet",ycen T?'\
1l1d me T runco or Pbn Sponsor. . ~
E:stablishment of New Individual Pa,.-Jcip..ant Aecount:s and
Allocation at Contribution:s Among Participants' A.ccount.:!
Sc..,~b auy toilo.....:.he .r.JC"Uc::oro of:.'te n.'\:.n =ubl.ll~ _.ndJ'l\cu.:.i
?uoep:l.nt JC'::.:Junc: ~ci illoa.::.-:..; :uncum: !:'"'-:'.J!~:-:~::: (0 S,.,.....:b 1r.'l.cr:<; :.":e
inciV1d~ U:coun~ oi?lw ?:..~c:p.ma. NeoN tndi''''au.1l ?U"CCl'PUlt Jc;:ount
lnfotn'Ucon M be delivered elec::oruaily or ~ 'N't"'.t:Jl.g :ccortl1ng cO 5c.h\Ar.o
:oec.5.C:Il::ions. AD .o.D.oc.:con i.nsc:",.K~ons ~ be ddiver-:d 6~ruoilv or ~
~~ md :h,:11 ~ :,"e :I.."l"lou.'1t :0 De ~os::'d ~., ~c.1. :.nctiV'ldTlli'
?'U':J=-?U".! u.:..:ount.
ScnW<Jb', Role
2.::.:::............:0 '...-ill ~O{ ;:'/~ ':=-;-..i jr =.;:: JC'r,c: ...,ci '"",2 ;-::0: :::-.i.::.:, ~.:::=I';'..'T.c:':c-:;r
:>,:'''C''',I,' :nVe:o::J.e..'"1~ .ie~';10(U ::r 'Jc~ :nV~l::1e.'1C JC'.;c: co :""1.e 17:\. ;'lor :.s
SC:....-w in Uly 'N';y ~f'.sibie :or ~Upe::"r,nng: :Jr :not"~:o:-,..ll!5 ::::Cuu; 'n :....e
Broc~ .\c.::ount.
Complianc:e with ADplicable Law
:7.\ .~j] <:::c:;iy '.Io'U..:':' .:..u ;~?iicile ==:: u:.d :dc:-...i :~..:m:~ '~''''1,
wmplianc:~ ~ NASO C.onduet Rule3
:7.\ ~rc.enc; ;,.-ld 'N'U:""_'1C :'~t. unle::s :7:\ :us g1ve::. Sc.~'...-..b ',I,'nt:e:-. :'oce.:
D::he ::onc-..r" 17....:os :'leC ".u::cc....ced.. '....,r..1.; :ne=:'::c, ::(:."e :"';lCCt"..:J
,~?C~ o(3c::-..:..::::~ ::dc::. L:'lc.. ,....,6n :;c ~.,,;..-:.; O[ R.\.lic )JS0 ot :..;"'e~
.'t..A..SU I Wr:c::.:c: ;J..:.o..:.=, 7?~ ~ :0 ;,:re x,::W'1.: ?!":l:::"'-?: '~::.....'":': ::'CC.C.: :.:
-:7..... ~ ~oc=:.o ~~::C.
Information
TP..o\ will ?rompcrf ?toV"ldc ~y :.nr:oc::lJ.coa re=.soc..WCy ~ct:;ci 'J'( Sc.1.\Jo..o
=.o~ o:h.e l!W'~l:!lot ot::'e Broc~ Aecount or com;;Ci:r.e.: '.11'\:'::' :it:s
.~c:::lt. U'que:tiocs ~.;e ::::t:.':.::'""...ll".g :':'C"..;Jfu..1.<;: ';lo"t~ u:v :"W. :7.\ ',IJ"'j}
=.:r.: my ..con ':.c:iie"/~ ~'J'f s.c:-:'\Jo":lO ~ ~ =,cc=:."f u:c. ;=m?,==, :0 -:....1U....~ ':"c-
oli;wc:.,......ri':. :=-;::i=:.:~.c: ';,w, 7,:z :~''':'.ric::. d ::c::~ :-:d ~=:." :.::.::
~~ ~:ZY il..::v:.o ;'U;:-C"Je'or =Ol""':::::r :?".'~ :::.:..-~~:'~i':'j:
Bro$=.=::-...;e .\c..:::lu::.' c.... ::lIZ;w..-t,;.: -;V:~ .;:.;:piiciie ~W';.
1ndem"ification
T?". 'Nil! :nd.e:r.ni.ft U1d hold~.::::: Sci:.o;v-..b. ic ~te;. md :"1.e-.: di::::-..ot:,
odice:'1 .:.od. :::piovC'O ~C'l md :.~.s: :..il6m:s, ..c::.Olll, C::lm. ......2. '.:i..l.:lili::::e.,
i:c.du~ 1COmC"'f'S ie:::. .r"smg OUt of or:e.b.cng to:
-w.y b~ by TP."'. OflCY ?l"OvuioQ d::m .~c::.t:
:he ?={c~.: or :lon.pe::oC"..mc~ oiT?'\'. s.:::"Vic.:::: 10':'
any dIrouce ~ec::l T?\ wd ::he Tt":~. tile ?!.:..c Sooru.or or :."1..:
?~~~~ -
.Arbft:r';rtjon Agl"'eemem:
On. behalf o(TPA and TPA', aSli.a~ tgena. and roecesson. 17..0\ ag:-ees
to s.eaie br amirr.aaoQ l.IlY eootroveny' becwe<:o. or UDOng tbe TP A.,
a.odIor ScbW':tb. Sdnnb'l tiEi.2Ui:s.. Sdnn.b'l omc:.en., d..i.rK"'.on JJ:ld
emplo,.~ which cooQ'O'feny rcutes to ~II! ikc~t ly;re-emeo! with
.$cb;W'tb, the Broll:en;e A.:cewH or accoan! In,C.S;1ction.s. the LPO:\ iU1d
no.-\.., if appIioole) or in aoy ~y u:~ OCt ofTI':\'. re~tioa.1b.ip t.O
me Tnut.ee1 or to Scil.w1b. u ?rovided in Section lb of che ,",c::ou."1t
Aqeemenl, The [eDowing dUclonues ..ate. rw.de i'a.t'Suuu t.O lP?uQ.ole
se.lf-(e~tory or;uliz.2ooQ roles: (1) arbitt'2ooo. is tina1 a.ad binding 00
the parties; (:2) the putie1 arc 111'~ d::Ieir ri!;h! to J.e1:k. remedi~s l.c
coc.rt, iadudl.a( che ri!;hc to a jury aUJ.; (J) pre-ubil:M.Ooc dis.covel"'r u
t;eaenlly more limited ch2.l:1 Uld difi'erent Crom coW't proce-eding-t; (4) tbc
BrU1C:h Ot5.c~
......
&rttillnton' .W"Itd is DoC reqllirtd CO includl 61aual 6ncI.inc:s Of ItpJ rea.
oonidc UId IIf'( pan," riP' ro .ppnI Of ro ...k modili...lia. of nain;S
by lb. ubirnlon is ICti<llr lmitad; (S) tho p...1 oforlllallron will
crpic:aJly indud. . minoriry 0( wenlon who W"' or lit .maud
wicb tho IIClIrili.. ind......,..
No pcnoa &b&D brine' putative or .e~ed dad ..ction c~ ubicnaon. not
s"& Co mfon:t an1 pre-dispute ubicnDon .grumene ."{WUl any person
wllo bu initialK in court .. pur:u:in dus ..caon who u .. member 0(.
puraove eLus wbo Ius Qot opted oue of che cu,u with rnpect to any eb.inu
encompassed by the puraQve cLus action until: (1) the- ,cLw c:trtWaQon Ls
deNed; 0) the cu,ss is decertified; Qf (J) the C',,1S(omtr IS excluded from
the cbu b;<" che colltt.
Sucb 10rbunnet to enforce U1 acr~mene to U'oi~le thall noe cOllSon.ltt
J w2..iver of urr rigbu under c:hi1 Ageement exc:?[ to {,be eX1ent n:ued
berein.
1f"3de Coniit'lTlcrtions and Aec-our:t Sta1:ements
S<:.hW1b wt.ill~d ~de c::mc..~cor.s :nd ;c..:::llJ1':, ;:':'l:~e::~ :0 ?1..."":C1.pJr.::S.
T?".. me :0 ci-.cse ?U"::e= ~..:.tc:: :=. Se-:::on j,
T'PA's Relortionship to Sehwab
:7.\.......uI :lOt t":?~e~~:o:::e Tr.:s::~ :.:"":t S.:.":.-....-,.b lnd l?.... ue ~(cd or
~'Ic Ul'( ..::iJ.consr..i~ e:-::C'~c .s de;c=ixd eo'l :.~ ..I.~.:-:.-:-::e:-.-:: ~l.....( Sc.,~b
::;.co~e= ~r :-e::~:::-...";'....'"':'l~ 7? ,,I,...; =-~t x..~..v:o :::"O'r.cc iC"Sj or ~ :c'..,a, tnv!::t-
:ncnc lcvic.::o the '2."'. or ;dvie.: ~~ '?~",=C"..:l;.: lloci:.:. i.nciUcin; ldVlC':
:r1voivi.n; lwubilir{ or Uld :.:"v~e::!.c .::-lCC;:!:: (or ?U':IC'.J..i.;r mxX:i; ti-..u
s.::"W'lO ?U':lc;:~te:: in ar :::'/l':-",", TP.\'1 tr.:l~ de:::ncn:: or :.;.""..[ Scb,......b
cr'~~=. :upe::-Ii3c ;:r :nc:,~:~r:; =:.6-..; :..~ '.":.e ?!.=.r.'; ;c.:::n.::,.:.
::ntire Aq~merlt
7".llI .-\.gr:e:r:=u ::onUlnS ill ofd'le ~e:1~. n='?r::se:1ccc:'J U'lC l.1ndrncnd-
"'~ cr'..1de ~Neen T?,'\ ~d Sc."<;I.t":lO, ,\11 ::1OciiEc::.::cru wa :.::::"le:1c=:e::c ;'e-::o
.:n~: be 'r. ''''~cn; :.r:.cl ::.;:'led ::y both ?;...-::.:.::,
A.s.sigMment
Sc..~....",.o ::'....: ~~. :::; :::;:t:. ;......c. ~ciizc.t::i'.s '.ll".6: :..;.,~ .l~_"':1ent ~o my tuo..
tlCury, ~t.: ()r ru'::~or Jy:n~ or .:oruoii6ccn ,~t::out :'lOce.: to T?....
or to 1r1y ome: ::1:::-;..r...::: ::u."ty~' wr.tt:l. :Joce: ro T?:\. T?:\:my :'lO(
~ cius .~C1t 'J.1.tllOUC $O;'W"..D'1 ?rior '....-r.:::::"::1 ::::m.s.o~ "I'b.is ~::1e..1t
is ~Ulciin;upoQ md willl!lut::D a"e ~('J(d'te ?;t..-:.e=' ruc:::::::.s.ots md USlgr'.s.
Waiven;
7a.e ~U:'e at cc.":.e:?~ :( u:y :i:::e:.o :-:-q-.:l.--= ~-:::=..::r..c-: ':ry c.":..= oc.;'e: pl-o-:'!
a{.;.ny ~rc'<'\;:c:;. ;:f':~ .4.-c::lt.....jJ, :'Ct.:.i'~:x. l.~Y'~-,( ::.J'le ~c:o .
:-:aui..""e rue:. ~or='.::.nc: ;c U!V ~ =e:-=..-i:::::. T.J.e '.Io-:':V;;:' ::"f 6t.~C' ?~f at ;
b";'c.1. of 41'.'; ::ro....~10:'..: :1e:'':::::;?'..] ::oc 'x :.U..::J. or ::~ .0 :.e .. 'N"'..iVC' o( .,be
?covUioQ iedr'
~t:lHcable l.aw'
TJC b......, o(::te set: of u.f.t::::r:i1. .1S 1.Ctliicd :0 ~:::'lOC .i;:::J.ed md pe:-
fOQd in C.ilifomu.. Uu.il ;p'piy md bm.'d ::"e ~c 11 mv md .ill ques:oru
~ !.Uldc cr-.u ,\;r~::1.c:::.~ l.Oclud.ing J,uc:::coru of ':'iliciry, :...,~c::pre=.con.1l'lc
~~r='.J.nc,:,
Tolephon<l Monitoring . .
s.c..,.....-1.b :::cuv :"':':ord :.elC?oone clh :0 (ZlOC.ltor :..,e quili.....! ot :e::.""',"tC~ ?rol/lc:d
.1.....c: :0 "~...:Y >e:".l:'1O::::'O :::.t'.:.1c::on :o.ioc:::tJ.con.
Authorization to Prt Fees and E.x;>enses
[[:he Truste-::is) bJ,ve ndicued (m Scc::lon 5 on::he: prev10lU ?K~):h1.c the. ,
Trusce::(s) .....-ish Sc."I'N1O to p~y TPA lea md ~ dirC'C"'..~' co n.-\. $c.;"..v1C
is luthon.:::d to p..v TP.\ rrom the Phn'l ""coum T?:\'I fee wd apemo.>>
:..nvoiced bv T?:\. 'Sc.."'N:l.b ~v ~ :noncv iJnd u......""::: "''1 .ne ?~'s 1e.:o~nc
:0 :..,e ~~: .1C':.::.::,,;:.... to ?y N6 le:s :r.nd ~.sd_ r.n :10 eV~[ w\U Sc.~""'''1.~
:::.: luDic ':0 7?~. or :."" ?~,..:: tor O'Oi1-"'.....vme~~ oiT?,l. ie::: ;,.~c :::<:;Xr'~':::::'. T?"
.......J1 't":;lvtce S.:.~w..o ....-::., C"'Je md. u..~~ :'oVOIC::: of::'"'!e T?:\ fe~ ow:d, oy
c.1e ?\.:....... lJ'1C: .....-ill lend. eo,.: T:".:jt...-e(~) :..::::n.ulc::.."tI:OW .....-:-::t::"l noc.oCJcon ot ,........1:
unoum :..nvolccd ':0 Sc.'......b, Sc.hw~b ~v ~;..' on I:.,"'e tr.'IOIC::: ruOC"'.Hted O'f
TI.A.... wd 5.::h...."1.o .,.,..;Jl C:.1ve:'lo "'~c.:b-w''Y -:..-:;. c..1k.d..;(e or ve;.iy tOed or
expens.e::. so mvolc,:a.
(UJ"!i"~td an pagt 5)
Account Number
s.c:tIon 6 ~"
7. Standing Authorization for Wire Transfers
~:~.~:~;;::~;;~:L,'i<'._';"",'i"
_'_.::,',n",;,."_""
.............;.:>.<,,~;:.....;...-.o.
A. Pbu lnfonnatioa
~ By c..,ecking dtis box :uld ~~mple::in& dID 5':':::00 i, YOU u:: l~:::::n!; co ?rovide sanding :J.utb.or.;:.:;aon for wi:,: C":l11Si'e:s on r.b.e temu set
forth in this Sec::lon 7.
P'->nNune(",inJi",udinS,a;,n2) Cit,y o-f Miami Beach 401A 457
T ."".;S~=:: ~un= (QJ' 11'ldic.:.ud in Sl::ion 2)
B. Accou.at lnfOfTr'.2COQ
T:urd?U't"fAdrn.i.n..u:cto((17.~}NWl.C: IC~ Recirement Corporation
dc:uing/?I.m.L....,d .\c.:ount R.:;isl:'1Qon
4620-4222
Oc:uingIPlm-L::"ld .""c.:.::unc Nu.rnbc:- :0 ~"'i..,-= ?-J.r..Cs F:-om
IC~. Ret~:rement Trusc-Cash-ouc
Clearing Ac-:cunc
c. Receiving Bank Lafornutioa.
BUl.kName First National Bank of ~aryland
B.,,): A<GOunt Re~on Ie1.>. Reciremen c Trus c-4 5 7 Receiving .>.ccoun C
777 North Capitol Street, NE, Washington, DC 20002-4240
B.,,): A<:GOunt Hoid" .\ddr= ('9ui".!m- ,"I ~~m)
425-3800-1
Account N wnbe ;or 3.:.nk
:=-:r ::-lI"'.i= C--:::::: :0 .~c.::::unt N~e
FoO: ?CR.-'.
306998
fer Fur-.b= Credit ~o .\c.:~unt Numbe:
Bmk .\EA Nwnl= 0",,,,,,," Banking ,-w"""""n 9-.i:,< numb",) 052-000-113
202-962-8281 (?acci Mikkelsen)
omk Phone Number
D. Agro.ment
In rcpons.: to 2D. electrOnic oshi=ing file received by SchW4.b trotII che "r.1itd
Put"{ A.dministacor mentioned in Section 71\ eTP^- j (con~ iruC:Uc:ions
to move o:s.h &om puti~c .ac.c:ouna md/or the P~L:vd ~':oW'lt u:l the
OcringlPbn-L:vd Ac.:OW1C reiC'Cleed Wove) or ~att.en immlctions Inns-
mitred co Sc:hW2b from the TP A. cb.e Trustee bereby lUthOri.::C Sch\lnh to u.i.rC:
=fer >ny =i ill ><=w.<od Iiuuls ;" me Sehwob a~i.u>-l<vd
Accounc ;ppuoble co the Trustee a:l the bw indiatcd in 5ection 7C. Such
wire cnm{cc shJll occur no beer dun the busincs lby fono~ the rece::pc
1l1d proce:.sing of t.he dec~nic o.sh.ienng lnst:"JctioOS. AD luch WU'C lnould be
~d.e in .aC:I;O~ce with I:,~e Wove irutruc:oru 1l1d lC me dir~on of my
o:Jploy~ of the TPA 1umor.zed by me TIt\. ~ pro'<"ldr: ~uch 1.NQ'tJc:ioru.
The T rustc::e tgreCS to indc:nnifr md bold Sdtvnb md Sc.hw:l.b'l 1ffiW,td. oJiic.c=.
~Ioyees md 1pc b.uml~ tram md 1.pirut U1Y Ion. dUm. ~e, or
li1bl1icy 1r.Sing out of or resulting fi'om my lal-On w::en by Schvnb lD. rdi:mc~
upon inmuctioQS provided undC"l' this Sunding t\.ur.ho~.::.1Qon ~tuch Sch......b 1Il
good ELich bdie-vc:l co ~ gouine.
8. Tenns of the LImited Power of Attorney (lPOA) under which each PartIcipant may act.
Puticip~l1t md Sc.h......-ili t.g:'ee duc the lumoricy coafared on PU'UcpUl.C by
the LPGA Authorincion eonceming 1 ~b Pmo~ ChOice R.eore::not
i\Gc.ounc" ~ be ae:rC:s.ed in .1Cc:ord1nce wU::h the following ~ Uld con6cons.
Authorization to Trade for Brokenge Account
PWCpuu cuy pbce tr:lding: orda1 for Brolt~ ^"oum PUCUJ,."C to c..''i.e
LPOi\. Tt\.I.Stee(s) may revok.e the LPOA lC U'ly time by giving wnCIen notice
to Sc..'Iw4b. P1l'ricipUlt.agree no< to oie my 1GUons dw exceed ic lUthOrity
under the LPGA or UlY othet' ~c between P~c md Tl'\IStee(s)
or Pbn Spoasor.
Appointment of LIml1ed Power of Attomey
By execuQon 0(.1 SchW1b Pmozul Choi.=e ReD.remcnt -','ount Um..iced ?OWeT
B""ch OtIiee
.'
of ^lIOttI~. Putiopmt ~c 1uchonty to ....aomey.[n-nc.: co tI':ui< Ul his/he:'
.1CCOWl,C but noc to tII.1ke wiwdnW'1h.
Schwab'. Role
Sch....-:lb W oot give IcgU or ex ldvUe llld will not sive .ad...,c:, (.0 P~cipUlc
r~ puticu.b.r scocl:J. induding ldvice inva[vmg Iwubilicy of 1l\~ 1I1Vc:st~
r:ncm untqid for pWcuhr scoc.b: nor is Schw:l.b It\ my Wly rc::sponsible for
~upcrvising or monicoring tc.ding in the Broke:'1g': Account..
CompHanee wtth Applie.able lAw
Puticipmt will comp~ W1th alltpplic1bl!: sete md fedcnlsccurtCd boW'!..
fCl"'tinswJ on P4ft oj
Account Number
.....
$ect1on 8 ,""""..JI
CotnpIUo"". with NASD Conduct Rid..
P>nieip.w ..",_ lnd W>mnG cha., IDllcu PW<1l',n, Iw ,"yen S<h""b
wr1cun noocc ca the: concmy. Putiapanll not "woc~tcd" 'A-W\ a nIm\hcr or
lbc N,liorW Assoa:Iaon o(Secunaes De>lm, Inc. WlIhin ,he mnnin~ o(Rul.
3050 o(tIle N~D'. C4nduCl Rules. P>nicip:an, >g'" '0 '"V. Sch""b, p"''''l'r
wriacn noQce j{ Puaap2l1t tun' bC'comcs so :lSSoe=tcC.
Inform.atlon
P'U'Clcip:IJ'lt wiD ptt)Vldc pmmpdy vry infomuao" reasonably rcoque:sted by
Sch~b eo",,~ the nu~enc o(the Brok.~ ^ecount or eompw.nec
......,th. th.U Agreement. I( quescoru.uu.e ecnc~ eornrlimce' W'\th U'ly lJw,
?U"Oopmt ......uI tac 1l1Y lccon bdiC'Ved by Schw1.b (Q be nece:s.uy md proper
co dUure <:omplune: ,...~t.b lPplicble ~w. nus provulon d"~ noe be rod :0
'--::lly :.rut Schvnb h.l.s In'f ducy to rupe:-'1ue or monnor PU":l,::;:u,nt'~ mJ.lUC:-
:n~nt of :"'le 3rob::-:::..~e .~.<:.:oum or cOrT1;)Wnce .....,t.,'l .ppuCJ.ole L.......'1. .
5<:.,,,,,,...b ::r'.J.Y cfuclose ?u-:::cpuu'. rwne. .d.d.n::.s lOd :r...u: ?OSlCOru upon
...:::;uc:.c:o comp....-Je:: '....n~e .e-:::ur:ces ue ~'ldd:.n ?U":l.Cpuu'. .C::ounl
Indemnification
?1.."'::I.CPUlC will mcic::n:urt md hoid h..u:rJc:.:l Sc.'l..........b. :c .,=~;~te:, <.r1.e :"1C"'.!
d.i..~..on. 05c::: md ~iove=. :rom m(f~ ....a-6.=-.s. J.c::loru. CCSt: me
~:.i.~c:.. inc.!uci.ir..; lc:ornC"'/s reo. lr'.J:"'~ aue ot" or ~e'::'c.-..g: :0:
:.:::.y '~r==.c.' '=Y ?';...""':C?J.,m 01 Ul~' ?rovmon ~t" ':o~ '\+":-~c::c :""lC
':""lV -:i."'?tJ~e %-:-....~~ ?l."":C?J.I''': :.r.c ::'.r:t=-=~'~), x ')c.:.'~~ ?...-=.c-.;::...:.: :,I'l.ci
?I...n Spon:.or.
?~c-?uu .N1iJ ~c.bowi~-;e du~ ae/:he ~ ~?Oruiok :0, de~.:=:Ur..lflg :i:e
~ru:-:, ?Ot=nc..-.i '.I1.iue md SUlCOWrv 011l1', ?1tt:ICollU :~..:...--:cy. ::nr.s;.c:lcn ~r
:"'w~.:::1~ ~t.:-;y w.d =ue Sc.h...",-:b doc:: 'lOC gIve l~...i '-::- :::.,:t UiVlC: ~r .':'i"l.'::
~....-ii.~ ?U":c..:i.o: :~. :nciucic.; ;,c"".c.: :..-;.voi',1..~ :L:.::.:::'li:ry ac';.nd ~::.:::::t:-
='.J:::t :C":t.:;sd :or ?..-:::;-.:.:;.: ::::c:;.
.J.rtJrtration Agre.ement
Co. Jea2a oCP~c:?a.ot., P1.ttici~ant'l l~>:,nu. 1l1d .u::.~' otbe:- ?~nOa3
b..2vin.; or ~~ :.0 ~ve 1 ~e;"1l or b-eoeri~ ~t.:test :.0. the lCCOtJ.::L.
?uticp'.1.Ot ~~ :.0 :.t:=!e ':ly 16it:"::lCOQ Uly ::oc.C"::J~e~ b-eCW'ee:: 'Jr
:u:coa; ?uticipant U1dJor SCW'10. SOW':lO'.l1.EliUe1 1.D.d Seb.'9MO': olii..
c.en.. directcn 1.D.d employCe1, which controveny rei.u.e1 to ~e ..1"e::oane
..1"qHmen( with Sch'lr.1o. che Brok:n;e .\ceoant or J.c:eount tr'2.W.ac::ions
md the L?O.o\ or it!: 1D1 vn.y tr.1.CS oat ofPuticip1tlr's ,ebrioo.s.h.ip i.o c.b.e
T.:'U,Stte{]) or :0 Sd1W'1o. u pro..,;dd in Sec:iOQ 16 ot":.!:Ie .\c:::oa.ct
.~~enc. 7J.e ~'oao'WiJJ; diJcosnn:s U"e :T.;1de ?c...-:-J.2..0t to .I?9i.iooie
s..:i:f"feptory or~Qoo :-:.ies:: (1) ltbit:'1.rion ~ 5.::a.lwd bm~ 00
::'e ~e""-: (:) d::Ie ?Utid U"~ ~ ~cir ~t :.0 ;.e-eit ~-emed.icS :n
::.:::l~.. :..::d:tdln.; :!::l~ ~t CD 1 jarr =Ul; (J) ?re-lt::liC":1rion dU,cOVl::; i.s
g'=C~r:illy more iimited du..a 1.Cd diEermt from coar: pt'O(;e.:~; (-')
eta ubitr:1tors' a1Ol'd is Qot re-qair~ to include f2c:ul fin~ or le~
:"'e:UDain;. &.ad .urr ~1 :i~t :0 ~PpcU ot' to u:-e:~ :nodiEc::ariou ot" ....~
9. T(\Jstee(sl ag~ment wrtll Schwab.
La our ~t"f 15 T~ md.. i::ppiicble.,.n Co- Trus~ (coUec:::vei1' bown
1:1 Tnuc.e:) of -:he TC"JS".... T:"~t=-= h'e:by :equd' ::.b.2e Cl':.2..;c:; s..:.:'wl.b &; C::J..
L--.c. ($c.:'...-.b) opo J. 3::o:t.e::lge Ac.:ou.c.c OQ ~o(ce T::use!.isle::!:r. Se:::cn
1 ot" aw Sci1W"1b P~oe.2l OlOlc.: Reare:r.cu: ^ccount~ Muc-..ul F-.m6 Oniv
P!.:m Appliccoa.. T~ ~ c.o n:::ld .md be boucd by >:.be u:::c:::s of t.;.,e .
Account .~ wbich Illdudes che Cub. Account .~eo-...mo.r.. rile s..:.'lw~b
Sweep Funds ~ t:h~ Sch'ilnb So::cl:.Bw1dC" ?!,2,D.- A.gr:-cnc:"t.c U'.d ache"
wric.e..~ ~~ ~~ the Trwt.e>= 1nd Scil.....'1o. U1d Truste-= ~e-::o be
bound by me c.e::::s of :.be ....c..::.ount ~e due ~piy :0 :.....e Bro~=:-~':
Ac=ounc 15 C"..l.~civ in dee: md U .u:lo::'..&d be ~e :0 ::.me. tf7"..:n:-:::: da
noe reI:.:IVe or '.ll1.cie~:::tod t.'le Ac::ount: .~...:l"..=1C. 7~ '",,-ill :'Ioc...y Sc..,w"lb
T:u:ste= lci:nowle-'~ r:::...c Scn........o doc:: :rot give ic-pl or ::.x .c,.c:. UlC '...-ill
:ler :cr.-...< 6e Trunce coac~:he :l2ture. potO.61 y:uue or ru1::ioil:.... for
:"e Trusc o(ury PUCC.llu SeC".l.,""1C"f, a-'...nsu:::I.oa or i.nv~e::t: ~c..:-;y.
tn cOr'tude:::&con ofSc.'l.....w o~ 1lld/or lJ"'..2in0J.t'li.tlg 3roh:-...g'C .....'.:cunc
far the Tnu:. rumed Wove (the T~). the unde:'1igned Tru.st~ of:......: T"..:sc
-=?rr:.:m. ....~a~m md c.e:--iy clut:he n:-prac:1o.coru aude :n r.."e :\??tJ.c.:con
~ ::rue. coc:tplete 1l1d J.,Ccun~: :fuc the Trust :s i.n !UD. ferce wd e€ec"'; U'la "'~t
c,be TC\I.3t .-\;ree::nenc (:u de5.ned .1.bcve) b.:s ao<: be~ n:VOI::d. moci.'id or
ur.c:nd.ed in ury lJ"'.1nl1e: which would owe the :C'?ro<:no.ooru concino:-:: :n
:b..u ,-\ppliooon ~ be UuC.:"l1r::l.t1: or InCO~
Sc.~vnb will re..'y on dtis. ApplioQon w.d upon the reprcencool"'.1 nude he:-el.1'l
B[jJ'\,h Office
......
br cia. arbi"'..... is ICridly Uni.ed: and (51th, ~n.l of arbi....,on ..;u
cyptally iadad. I minority o( arbiC'1ton wbo werr or ile affili.aeH wich
lb. securiri., iadasll1.
No penoa sbaJI brine: . puaci.. or cmilied d..us action I~ arbiG':lrioa., Dor
Iftlr. to .Norc. any pre-disput. ubicnc:ion .~cemau ,'pulSe any pn10n
who bas initiactd ill coW1a putaciYf' cb" .ctlon .~o IS . rnnnber or I
putative das.I who bas oot opted OUI or cil~ ~ss W1~ rctpf'cc to lay
cJ.aim.s encompassed by tbf' putaave cws .caon anal: (t) the c:~ eC'l"ti6.
orion is denied: (2) the c!au is decl:'t"ti5td; or (J) c.bc CUStomer IS excludf'd
170m the wu by the eoun..
Sucb forbnnncr to mforct' In JcnrmenC co ubitnte sh211 not c:onstinue
1 ...."l.iver of lnY ri~u under ~u A;:-fcment except (0 !.he eX'tel'U lUted
burin.
Trade Confinnation:s and Account St.:1tement$
L~J"'JQ T~~~(s) di:::7.(~) ot.1e:"'.......:;c. Sc-:.'.l,.c ....'\ille;:d =::,dc :cn.:i."':':"~coru U1d
~c::~um ~t:c::t:1.0~:0 ?1..-::C=:''1:;/ld.. :;'-:::':'Jo:=:t~ ',:;v -:-~:e:\:).:Q -:..,cs.c ~1.."'C.d
. .
j=:~.J.eecl :,11 Sco::::.on J.
Entin Agreement
T:1i: ;"~e::e conc.ins ::iI ac"::'1e ~~e=:.::. ~r::~.~;::ol"'.s U1d 'Jr~::.nd-
:r..g:s C"'.2de ~""ee::1 ?-:r.:c:;:mt md 5.::.1'.......0. ,".j ::;J.oc.:.:.'::;::Or".1 md l.D'1QQ::enc::o
~e:':"'.o :nt;:;t: ':>e :"'1 '>r.':::'~ ...~ci ::;::.::: '::v ':<.)(,.'1. ?;;-:.:::;.
As.$ignment
Sc.1w:lb auy urig:'l. ic righc::o 1l1d oo~cor.s ".IDcie~ :.~ ,.l.~:':;;:e::t :o:u::-;.' sub-
1Idi.:....,. ,"=;;.te 'Jr :uc.:=o' by me:'5'= or ::msctJ.c.;,~on ....":':.."':c1.Je necc: ~
?...~~:I.,,'1t., or :.:::J :.ny 'Jcne-r ,d"lc='( lite: :'"'.:..--:v i:.'f" '::r.:::e:'l, neee: m P:..~~~~t..
;~~C~\:~~~:;:~~~;._~~ ~=:;~ ':~~~~~~:~~~.~~~ ~~OIt '7;:n ?~~-
cc:=' ruc::::.son :.r.d ;.m;:-~.
Waivers
. ..,
:-:'le :1.l1u:: c( :::.1.::" ,U':".. ;.( ;"''1V =.=:'!e :0 ,:-.:::.:.:: ,-:::::::::-":"-:C: '':' :''":e Oc:ll:: ~U':'.'
at" :"1"( ~rovuicn c(:..~ .~:-::::1=:': '.lo,j} :':oc 'de=:' ...... .:r.... ......,. :.he ~ :0
:-:-.:w::' me.' x:-:or.:-.:....c: .C :"1"1 ::.:ne :''1.e::~;..:~.::". :-:...e ....jJv::' .~ :::''1C- ~ ot.
or~~ ot" my ?rov'1.l:lcr..l J.c=O(.......u: ::DC ':-e :.;...c,:::. or :'6::: :c 0.: : 'N'::lJVC" of ::he
provuion lcd'::
Applicable Uw
Tne ~~ of the :0.:':: of c..:.liiOtr.i1. .u l=-=i:ieci ~o ~=::':c I~ed 1l"Id pc-
:cr=:.d :..1 C::lito~ :,~ mON u:d om'c :....e :::..~::: ::l :"'1'" :.,.....d :ll q"..Ic:.r;cru
:r.J1llg u:;,c::- ~ .~:::::=:.~~ :"~~'Jci.--:.; q1.l=c...l),....':,1.i6:-.I. :.cc...,":?n:::::eon;:.c
~.ct::".;r.c:_
Telephone Monitoring
Sc..1W'J.O =v ~ord ::le-:hon.: ~ co ::J.cr..:tor :..1c:: :::.:J.ii:" ol.e:"'<-lc: provided
wd :D "r:"}! ~.:r.::::es ~s;l.c::on i.tl.fot::"~::::or'_ . .
'J..-tie:s md 1.4"'lCllt re-::::::ve:s J. 'N:'lt"..e."l :-';occ~~f .l..=lec."":':c:::".~ wn<<e':'l ~oOc= of
-:.~~':'i T::.r.r.::-:::: ~r .Nt:t:e:l noee:: ot Ul"f ~Ve:1C ;.rf~.........g :.1e T~t~' powe:=i
~C"loed ~oove. Tne unde::;I..g:led T::-.m::-=: J.?:: :0 Ie:::a '''''''''=:''''l nooc.=
procnpdy to Scb.......o ot Uly ~ :n Trwc.::=, at UlV .u!10G=1e::::1e ot'
m0cii5.0Qon :0 the T:wt .~..:nc..1C ""hic..'l would C:1.::>e :lc:: t1:?cce:nanoru
conc.med 111 r.h.u ADoiiation to be or become UUC::'U"1t.e or 1l'1COrreC"_ oc o(:be
oc.:urrenc: a(my ~~e."'lt wb.idl would 1tfec::he T:-.ut"1 revoc.bility. me
Tr"..13te-::::' ?Owe~ or Ul,! r:::'?C"::e:'.cc.oru t:".J.de :r. :.~ .\.ppuc.;.cen.
7':1.e :- :"l.Ut..""'::l inde::-.....l.,.;,. md heie lu..-:::-Je:.s 5<:.'1"'''10 .::0 e.:c..'l of:c oaic.::::.
d:.:::,:"..o~ ~..::iove::s ..~d :.g-":nc ~C"'_ UlC ::,olc .u,~ ~e:-::'::.,:: ~~-=s :.;u....~t.
'"V =' ''- ..;""",=' ~_.... ...,_;..,...._ .--;~_. -.....,..,....~ 0- oc.....r::":' :iJ.bilice or costs
..... - J"'~' ........ ................-. ,...-........ ....,-..;.-. .
ot" cic::ie:'.1e 'O~ ledc:..onC:U (inclu2n:; J.t:O~~f'\' rc-:::::, U".:::..~ aue of.or r-:L:t.<:d:o
Ul"f 1C~ or ille;ed ~.pro?=, or u.nnm:ble .c:::.or-,J cl:."'\ H sue" T ("~
inst:'uC':Jom m COMe:::lOQ WIth che 3t':':Ji:.~,: :\':':OU:l.C =ofuhed Jt Sd:.w~b
to' me TM!. Th.u indc::n.rUnClcan:s il".2Cc bv the unJe:':r.Clcd Trusted belen i.n
chC"'.r aO.1cce 1:1 Truscc-:::; 1l1d in :..;"C": l1'I6V1dt.:.:J :.:.o:l.c:od, lIld th,Jll nO( be
!i.m.itcd 'bv:he Trust..:-=:' :lrovuion w s.c.,,,,..;, o( :nc~:'lce: aoc.:n'le-:'lQoon
c~nc~ che ~,?n::;e:'l~':loru cruel: nc:'I::""l..
Tne r::pre.cncoons U1d ob~coru ;'Ct.ed hc:"::n d'Uillur.-lV~ :.e:='..ir.Jcoa o(:he
T~ .~, Uld me Ac:.:ount .~__lC1C ::::..c.""l; ~ :..,e Tr.:..'1:'~
3roi:~ Accounts.
r",rllinf,,/cJ Off pagt 7)
Aceount NumbcT
s.ctIon 9 I_litul./}
M..tmron A9f'Mmeftt
On INW cll'T........ lad T__' dIiIa.... lpoll aad ...ec........
T_ Ip .. MClIo lIT arlrilndoa III'f ..n......." IN..._ Tnul....
Ill'( PIaa Panldpull lad Sda...b and/or 1111 Selnnb alfiJla.... .aie....
_~ ompIor_ or ac- ,urine .. 11M ""-I Acn-' or Gat
hlten" Attouar or .aoal rnasact:ions. Of ia .., '"1 uiJiac tram
_ ..lad~p wid> Selnnb, u pr..;dld in s.e.ioa t7, piC" 10-13 o(
dlelkai:cr.a,. AccOCUIt Acrtcmmt.. Tbot foDo..mc disclosures are made
P""""" '" Ippiable seJ(-'<r!a"''l' otpDiutioa nola: (tl ubi...tion is
6Aal wd biDdinc on lb. p""": m lb. puti.. an waivinC lb.ir "eb' '0
seek rc:mltdies in CO~ iDdud1n.c the right to . jarr aW; (3) ptf'-vbitr:J.-
aoo diJ.c:overy is ''tnenl1y more limited tb.an and diffnent from coun
pi'oce-edin;S; (4) the ubiauoN' lwud jj Dot required tD include ucrual
tindingt or le~ teuonin" md ll1Y pan:y's right 'a 19p'l!aJ or to I~k
mod.i6C1QOQ oC ru.iin(t by the ubicncon is Itrictir 5m.it..ed; (5) c.be ?2..0el
of U'bitr:l.ton ."..,], rrl'ic:::a1ly indude I rninoriry ot ubitntoo wb() were or
ue ufi.lia~ ...neb the ,-,=curiae$ lndustr'7'.
No penoo Lb.all b~ I. puative or arti.6ed clu1 acOoa ~ ubilT.lcion. Qor
seek to em.orce my ?'f'~at.: U"bicntioQ 'J;r~ent .~t .ur-:r ~nOQ
"IIf'i:Io !as izUtiu.ed :.a >::ourt I: ?UctiTe c!.a.s.siiCrioo 'Ilrbo :.s .& member at I.
7Uucive d.uI ....00 02J aac oottd oot of the cJ.us widl f~ ~ l.C.V clai.-ns
~ocom1?uud hr dJ.e ;:It~Qciv~ d.u.t action anal: (1) c:he c~ c:T""'.....c~cioQ i.s
dalied.; \::i ilie C:.1U iJ d~er.:i.6:~ or [J) :.he c:utOmet' i.s exc.!aded. S-om Qe
Q..u b,!, ::he c:Ju.r::.
Sac (ornunnc: to eniorce lO agreement ~ ubic:"2t.e Lb.a.il ooe coa.stiruCt
l "Iniver of 1.01 rigbc: l1J:Id~ thU .\qeetTIenc a:cepc tD tbe extent ~Qc.ed
ben1n.
Authority of 7'?A.
{fJ T:wd-?U":"( .\c...~t:':cor:$ ru=ned:n Sec:ion 5.:be ~roVO.:.lor:s O(':i'11:
Lallc...-j ?ower o( .\tl:orno:y (I20A) dc=.c::::"'.bd. hc::-_'1 ~P:Y :u :'oUow<;:
DMpliau SLdumcf.U rJnA C.m~i.4TU
77.\ :.s ..ucot".=eci :0 ~~::.ve Jucuc:.c.: :Qtc:JClC uui ,=o~oon::: llnC::-:"Ie
Trusre-:s' ::e::lr::.e.:l,CCOCU :n s.:.c:.on;. Sc.~\Ir..b 'J("..u ;;.::ICVI:"( :on::.."::"'~ccn e;( ill
JQV1r'( co 7?.... ~ ?rClVlde n.\ .....,c.'1?~ ::ct=e=.o ~d. i ~pi.ic:::.CIC:. ';,oc.:.i.
t:bc: :Qr.c::::::::l.C: 100 comit:::::::.1aolll :r.r( be ~ :1:c::oOJc1ly ...u
SchwUlI...:.ni. .
:;w,.,. TraJi"f I",tnu:tUnu (U'OA-)
tf7?A is :luc:hor.=-""".:!:.o r6.y ~~ ~.Jctions cmci.c:::' =:e 7."'U.."te=' Cl:'?~~
!.C::c::oo.s JJ. Sec:oa 5. T?\ =..::.v di.--ec: S6W:l.O :s :D ::l.e iJ,Vcm:nO! o( :.,e
3rok:~ ~~~'1:::.~_-:.i.: ,;CC' :lOoe:: ~e-:.=:::.:...-, 'x :Il.CCe:'...t:.l:o :.he
~_c.o:::l ~[ :::JC __........._<..ic:::.
Sc::::....~. Uld ocile':' ;-=OQ :.0 'N!wr:o. XbW':l.O ~ ~o ~c:iocs in orCa co
impiC:::Or;::ll: 17.\'s innnlc:::iom. rmy rciy 011 T?\'I tn:iC"lJC::ons wlQOUC obQ.in-
~ my 1pprov:U. 'oun~l:I.:rt: or ~P..u-:. T?:\'~ :lumonty....-ill :..oc.'uce,
'Hl:.bout tir:uoaoa:
~e :luthoricy :0 ~ve i.w:mJc::ioc:s far ~....ns2c::ions in >ec'.u::ac=; J.Od 5.runc.;J
:.~. inc.'uding rile OIJ"f1Cg md >e.!ling ot' %Oci::s, bonds, cic:ix:r.r.Jr:.
11Oc.:::. tu~..ocion ~C. ;tCC.\: =~ ~...a.a. oocon:. ;r.Ur"":.1.i i\.:nc:
~ I:"r..cle::.c..::: ot':ndcbt..-cl."ld ~ Uly odla loCC.I.:":co. :.rut:"'.m:.::::lC or
con~ :'e1.3.li.ng: co sec.triac::: md
W':l~ oa.:e::ur( eo :on:ple:~ my cnrw.c::ioa.. me .UJthon~y co :n."'lSi~<::,
couvc::::. ~dorse. sell. mf;n. $Ct OYe' Uld deliyc: UTf us.e'::l hdd a, ""c:
Brok~ Account (dlc: o\c.cOllJl( .~) md w l:mkc:. e;xecute ma ddive:
my md 111 wntten imttumcnc:s of ~enl: md a::l,nsf~.
The tcms under which dUs ~uthoricy a gnnto::f U'e set forth in Sectioo 6.
W~F14ttb fA UIt:PLzn;' J CJ&alcitlf ..o{a:.D1Qft ,"An<1chc l1UritJ4.tio.rf. (UI"PO.-t)
LfT?A a luchotiz.::d co WU"e funds CD ene ?~'. 6~ .tC.Counc ~c Uloehr::-
It::I:cC'.1tlon unde: :.he :'.;\l.St~' 'I:?rl::.enac:iorn in Se:::lOQ 5. TP.\:I'Uy 6:~~
Banch OSee
Schw>b '" disbune IUnclo '" F1 bau:I"", prowl<d under <h. Pbn or to pay
ctw-sa .uthorized by <he T_ ""~. Sch,.,b . .udlorizcd '0 ......
cheW. wVe lUndt and odIawiI< mW disbuncm<na o( funds held in <he
B...kcnce ,,"oun< '" banks and od><r firwl<UJ IlUfIlU.OlU (or <he Pw,',
bendi~ upon Tl'A', wriacn imtucn-.
When"""" this LPOA (and WPOA. ..ppliobl.) is "Dcb.d to 'ZI'f inmumen,
o( ...if1un.... Uld <nnst""", >4 p"""lU WIl bo !Oadod. ,.;<hout further Inquiry
or ;,wClapeon Uld rcpdI.. o(d>< cb.. o(thc LPOA (and WPOA. j(,pplico-
ble). to act in n:limce lJ~n rhe mu~tion due 1.h.: Accoune ..\ssca turned tn
suc.'1 inscrumene WC!: duly md properly lntU(crred. mdoncd. sold.. mi;f\ed.. ~et
over md deliverl:d.. md due W1ch ~a to luch :\ccounc ,-\I$e:: tile ~uthonc'f
conferred heron u mll tt1 full fottc md ::fee::..
Payment at TPA. F~$
[f Scil'..nb i.s ~uchori:cd to deduce TP:\ (e= W'lde-: :he T :'U.."'I::O::' ~e:ll'Cetlc.oons
in Sec:Jon 5. Trust~ ~ tiut me T:'U:te~ li'uJl x r~oruicie :'or 111 o.:z:
'...."thho~ wdJor r.u. ~~ (mcuding. .....,thouc h:c''!oQon. l.RS rocn
l099-MlSq with ~c::o my such. pvme.'1C, ond Sc::.....w dull. :'Uve :'0
~nsLi:)llie'( (or :my :uc.'l QX ~r~. T'1e :' ;us:..,,: ~ :OJ ;ncc::'.rury ~
hoid :'UC:ll~ Scb.\lnb .rom wy ?d'~e:: ~c ~y :x ~ed :,... '....le intC7'~
R.eve:::1UC Scr,;c.: or uxy ocher ~vC1l:"..e:::c1 )utnor:ty 'N"!c.1 ~:::::~ Sc.h-....n.b.~
Eu1ure co ~OQ -:J:rV Q.X ~~'.v::.i. ~:o my ~1.l::,":e-::: ?Ald:O 7?.-\..
Raja of Charl"$ Schwab &. C4., 1T1C.
T :u:;te:s ~ci:::::o....;edg~ :l.t1d ~::: ~c
$cbW'10 'Niil ~c:t'I:.'y e:fec:: rn.dd :s dire-=:::d !>y T?4..;
Sc."v.rW wtlI no! ;rve inve:C1~t :d.,.,c: ~ 7'?..~. or ::;:01 dr ::.."C Idvi~: or #
~c.",c= ~ ?U'=lC$ :~. :.::.ci:.l~ lC'r.C.': :.'...Cl'.........,,; :,:,::::owrv o[
:ll1a :nve:=e::lt ~t..-;:c:: ~r ~~ ::oa.:;. :.:; :::.e :-:"'_:::tl:~ or ~'e Pl.J.n
Spon:OI:";
S;:::"........b ::s :10C :lc-..ns: U I 5.du6ry:
7'.1e :' :''':'''''1::= (md ::lot $c.1.\lr"4:l) ::..~ ~....cru::Oie ~cr :.."=::.;:c..'\g :nd
:.e:ec-.......~ :"?\;
:?.':. j ,10t ~c.:C M1C or ::.::lo~i].:::i ~r -=-.oICv~::;'v $C.~"""1;', md
Sc.,,\Jnb ~ o.oc lpproved., r:-.:.oc:.:::le::.ded or ~ciDt"....cd T? .1&.:,
Sc.."'N"...c bs 0.0 duty to~...e or :noaitot::::tding: ~ T?... III che
3roi:e::-...;e .\~ou.w:
Sc.~\Inb :-w ::to duty :.0 r:orle-;v :he doc.:.c::c W'ld.::' ',l,Ihie.., ~e ?b.a ~
::'.:JJJc:.:leC- :0 u~e ::hc.e doc..u::~ or :.0 reque:;:: ~ de:-=".1.-:;,oon lc:--e:-
:rom :'':l.e ~v..-~i ?"',:ve:::1ue Sc:::vu::: ~:::n'::"'....i..'1g ~~e ?~ doc-.:.=:ac:
s.:.='?r...Q b.::s ~o CUty :0 de::==:1i::::Je or ;-eVle-;v llloc::=oos o( com:::oucol"..s
uoong ?U"::~~ or co pe::Oc:1 2rr( re::otcl.=-=?1.ng :Uoa:1oru for :.he ?!.:n;
Sc.i.",~ hz 00 duty to !'C"V'ie'N P!.:.a :.av~a for ~ompliu1c: W'lm ERl$.\
~iocill~ cic"~ ;vb~ my :rtVe:::::::1~a coc:;t:tuc.: ?rotuDlced I:""...r.s-
lc.:::Oas '.Jndc:' z..~A} or co dc<'..eC1Ule '...ne".b.e:: ?t..o tQve:::nena \II1iI re:ulc
in :;cc:rure CD ::h.: Q;( oe unn:!.u:d bur.ne::; ::.;able :ncomc:. or co :e-"~
ene ?h.c doc.l!:lc::1c :0 d.e:.:::::::rinc: ~e:'~e: my :.nv~oe:U lI".s.='.Jc.:::Ol'U 1."': in
:l.C:on:iuu:: W'lC't ~e ,,.- of:i::.e?~
s.::~......w Iw ::to duty co :ur.st io 'omprr~ 'JI1.th lO'f oOiig':l.cior..s ci'~t ::,~y
Ix 1.C'.pcs.ed uncle" E.~ inc..'uding. 'N'lc,.ouc :uru.ccon.. d'1e :=?Orcng.
P;ltlCf'.:l.tH discilXUI': or Jonding' ~Hr:~l: o{::"'-LSA Jl1d
Sc.h'-.lnb b.2.s no duty to mU:c io 'a~iy1ng wun Uly lc;:zJ oblig2aotU" ~c ~
cuv lOON co disC"':OuQoQS from tht: P!m. co dC:c:::lloe whe::"e:- :lJ1Y @~
uo~ns' ~ required. undc::: ene"~ muumwn distnbucon" roles of
ene Inee."!Ul R:Vdlue Code, to dc-'..::m.LCe .....ne:.i..:: my diso1bucons ch.at
SchW'1o ~v be irtst=t:C"..:::d. co Il"~e :tr= :lrolX::Y 1uC1or..:.:d uncI:':' :he ~
oc':he P!.u1..'or CO ~ew my be:1e6~";' d~ig:".J,coru t.~, .:J"....y ',.e t:".J.de by
?\.m ?U"::c-=~,.-'a. j 3)
. (c:mtll1:.II::J Jf1 pag'
Ac.:ounc Nu.mbc:
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,..~...,,:- '.. .~.
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~. "l)"e '.;'"
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.~:i~;:-::y~:::7~~;;,~~;.;~~S:1\~';~:~~t~i~:~';;~~~~~5~~; ::~:?;':~'~~~~'~::"-:;:?:~~:'~~'~~;:':":'_~':;'~'
._....~-~_._._--
"7_~:.:.~.,_~.:o.....__~-..:___._._. __'_.~.._..._.__
-'.' .... .
-'.' .'".~';;..
.\i.1.ii c:orn::iet~ct fOr::l :0;
C::.u:e: sci:?r.IO ok CJ.. ~c:.
Reci:::ne:::t ?!:1.C Se:'7'iC:':l
?O. 30% 5=036
?!:oe=i.%. .U 3':0-;-:-1":09
3~c:" OS.:.:
......
.-".c::ount ;'iL:..7:OC:
-
:
CITY OF MIAMI
BEACH
.. 1700 Convention Center Drive, 3rd Floor, Miami Beach, Florida 33139
http:\IcI.mlami-beach.fl.us
Office of Labor Relations
Telephone (305) 673-7000, X6569
Facsimile (305) 673-7023
September 11,2000
A. E. Dunston, Senior Implementation Analyst
Attn: Implementation Analyst
777 North Capitol Street, NE, Suite 600
Washington, DC 20002-4240
Dear A. E.:
Attached please find the completed letter agreement and the Schwab Personal Choice Account Plan
Application for the 401A. Please process this request and call to inform our institution when we can
start distributing applications for the plan.
Thank you in advance for your assistance with this matter. If you require any additional information
regarding this matter, please do not hesitate to contact me directly at (305) 673-7000 ext. 6211.
s~~~~
Mary Greenwood
Executive Assistant to the City Manager/Labor Relations.
MG: vpm
F-,HL ;...IA\L.-\BORREL\Vl'M\LETTER$\.ICvIA ..0 I A submission L~ner of 9-II-OO,doc
c: ' Patricia Walker, Finance Director
,.
September 8, 2000
777 North Capitol Street, NE
Washington. DC 20002-4240
1.202-962-4600
FAX 1-202-962-4801
Toll Fret 1-800-66g.7~
Internet http://WWW.icmarc.org
:
.'
Vashanna Mcintosh
Labor Relations Technician
City of Miami Beach
1700 Convention Center Drive
3'd Floor
Miami Beach, FL 33139
RE: ICMA Retirement Corporation Account Number 109219
Dear Ms. Mcintosh:
Thank you for submitting one completed PCRA Application and Administrative Services
Addendum. Unfortunately, Schwab requires an original application for each plan.
Enclosed is everything you need to begin implementing the PCRA Program for your
401(a) plan with RC.
Complete the following documents and return them to RC in the enclosed
postage-paid envelope or to: ICMA Retirement Corporation. Attn: Implementation
Analyst. 777 North Capitol Street, NE . Suite 600 . Washington, DC 20002-4240.
1. The two Letter Agreements are to be signed by the person authorized to execute
documents for your plan. Please retain one original for your files and return one
original to RC.
2. Please complete the Schwab Personal Choice Retirement Account Plan Application
Broker/Dealer. The application should be signed by all named plan trustees, or in the
event the "employer" is the named plan trustee, the named "plan coordinator" should
execute the document.
Section 1.
Please complete in full.
Section 2.
Please complete in full.
Section 3.
Complete this section if you want duplicate statements and/or confirmations for all
PCRA transactions related to your plan.
ICMA RETIREMENT CORPORATION
The public service Vantagepoinre since 1972
.'
ICMA.RC Services, llC. a controlled broker/dealer affiliate of the leMA Retirement Corporation. member NASD and SIPC.
,
: '
Page 2 of 3
Vashanna Mcintosh
September 8, 2000
,';~'
(~
"
Section 4.
You must choose whether participants will be permitted to invest in Schwab's entire
array of mutual funds, only the OneSource Funds (no loads or transaction fees) or
only the funds you specify.
Section 5.
Your trustee must initial by A., B., and C. in order to give ICMA Retirement
Corporation the authority to act as your third party administrator for this plan.
Section 7.
You must check the box and complete the first two lines.
Signature Page
Your trustee and co-trustees (if any) must sign and date this page.
Please note we must receive a separate original application for each of your RC plans
for which you are adding the PCRA Program. Keep one copy of the completed form for
your records before returning the original(s) to RC.
Retain the following documents for future reference:
The Schwab Account Agreement
and
The Broaden Your Horizons Brochure
Ms. Mcintosh, I have enclosed a copy of your 457 application for your convenience. It is
not necessary to return the copy to me.
Upon receipt of the above referenced materials, we will mail you written confirmation that
your PCRA program has been established. After receiving confirmation, please call your
RC Marketing Representative to coordinate the distribution of PCRA materials to your
employees.
Ms. Knickeita Vassell-Bullock is your new Retirement Plans Specialist. Her phone
number is (954) 349-1349. Feel free to contact her at any time regarding your retirement
plans with RC.
,
.
,.
.'
"
Page 3 of3
Vashanna Mcintosh
September 8, 2000
Please contact me or Brenda Proctor at 1-800-326-7272 with any questions you may
have concerning the PCRA Program adoption materials.
Sincerely,
-""""
Il ( j)~
A. E. Dunston
Senior Implementation Analyst
Enclosures
cc: Ms. Knickeita, Vassell-Bullock, Retirement Plans Specialist
Mr. Chris Baker, Product Manager
.'
/
February 22, 2000'
177 North Capitol Street. NE
Wasl'lington. DC 20002.4240
!.202.962.4li00 ..;;eA'
FAX 1.202.962-4601 Ji,".<;- _ ,,'; ":':'l' .
Toll Ft.. 1-600-669-1400 ".." .
Internet: http://WWW.iCma~:~.___~~ . ~~:.
.. ."''' '~'" ." .
"
.....,.-
Mary Greenwood
City of Miami Beach :~
1700 Convention Center Drive
Miami Beach, Florida 33139
7
"
RE: Plan Number 109219
Dear Ms. Greenwood:
This letter agreement will serve to amend the existing Agreement between
City of Miami Beach (the "Employer") and the ICMA Retirement Corporation
("RC") to provide the Personal Choice Retirement Account program
("PCRA"), available through RC's arrangement with Charles Schwab, Inc.,
for Employer's eligible employees ("Accountholders").
The existing Agreement between Employer and RC is hereby amended as
follows:
1. Employer desires to make available the PCRA for its employees to be
administered by RC. The details of the PCRA shall be as mutually agreed
between Employer and RC, but in general shall be as set forth in the
PCRA program materials developed by RC and Charles Schwab and
provided to Employer.
2. Absent an explicit provision to the contrary, fees and expenses payable
by Accountholders shall be as set forth in the PCRA program materials.
Fees and expenses shall be payable' from PCRA assets, assets of the
ICMA Retirement Trust or both, as the case may be, in accordance with
the requirements of the PCRA program as set forth in the PCRA program
materials. .'
3. Each Accountholder will receive a consolidated quarterly statement
providing information for any deferred compensation plan, qualified plan
or PCRA account maintained by each Accountholder and administered by
RC. With respect to the PCRA program, the quarterly statement will only
show beginning and ending PCRA balances for that quarter.
4. Tax withholding and reporting will be provided by RC for each PCRA
Account administered by RC.
ICMA RETIREMENT CORPORATION
fha IJ\lbht: 'lerVIC9 Vi'llHagupOlnt 51nCd 1~7~
.'
ICMA.I1C StHVicllS. lllc. is OJ COlllroHlItI altiliOlle of the leMA Rutirernenl Corporation. Memoer NASa and SIPC.
,
.<
5. The details of RC's administration of the PCRA program, as well as other
features of the PCRA program, shall be as set forth in PCRA program
materials. The PCRA prog-ram materials are hereby incorporated by
reference and made a part of:rhis Agreement, except that Employer and
RC may from time to time mutually agree in writing to terms that vary
from the PCRA program materials.
If City of Miami Beach finds these terms agreeable, please so indicate by
having the appropriate person sign and date this letter agreement in the
space indicated below.
Very truly yours,
fl(LQ,
Corporate Secretary
Agreed:
/ q Il'~..( 00
Date
0\'\\Q0W
AL.\thorized Official
2
.....i,,;.~"'.~"
/\:.."Si,i,,;! .;.
"'-"';'i'::/li:xf.."
.-,,",".,..c
February 22, 2000
777 Nnr{/'1 CiDIIOI Slreet NE
W.1Snll'll}lon. OC 20002.4240
'.21l2.!jl;2"600
FAX 1.202.%2.01601 :,;..;.;};_';'
rlJu Fri!ll 1.800.669-7400, _",__';,; -.;.'
Interne!: hnp:l/www.icmarc.~;i.J1;" .'
";;'-':'1
-,':."J..,!."
,
J
Mary Greenwood ;
City of Miami Beach 'I!
1700 Convention Center Drive ,~
Miami Beach, Florida 33139
"
RE: Plan Number 109219
Dear Ms. Greenwood:
This letter agreement will serve to amend the existing Agreement between
City of Miami Beach (the "E",plover") and the ICMA P,etirement Corporaticn
i"RC") to provide the Personal Chcice Retirement Account prsgram
("PCRA"), available through RC's arrangement with Charles Schwab, Inc.,
for Employer's eligible employees ("Accountholders").
The existing Agreement between Employer and RC is hereby amended as
follows:
1. . Employer desires to make available the PCRA for its employees to be
administered by RC. The details of the PCRA shall be as mutually agreed
between Employer and RC, but in general shall be as set forth in the
PCRA program materials developed by RC and Charles Schwab and
provided to Employer.
2. Absent an explicit provision to the contrary, fees and expenses payable
by Accountholders shall be as set forth in the PCRA program materials.
Fees and expenses shall be payable' from PCRA assets, assets of the
ICMA Retirement Trust or both, as the case may be, in accordance with
the requirements of the PCRA program as set forth in the PCRA program
materials.
3. Each AccOttAtholder will receive a consolidated quarterly statement
providing information for any deferred compensation plan, qualified plan
or PCRA account maintained by each Accountholder and administered by
RC. With respect to the PCRA program, the quarterly statement will only
show beginning and ending PCRA balances for that quarter.
4. Tax withholding and reporting will be provided by RC for each PCRA
Account administered by RC.
leMA ReTIReMENT CORPORATION
rhrl ~J"llh..; 'i"'\IlClt V,1.,1.1YUlJom\ ~UI':<.I 1:.11::
It.:fvli\.m; SUl~K:lIs.IIlC. I~ ,I cllluruUtI\l ,1Ilih.J11/ Ollhlf leMA Hull11lf1lltlll !;0IU11l'.1IIU1l. MlIllltlttr NAsa Jilt! Slt'C.
.'
,
,
5. The details of RC's administration of the PCRA program, as well as other'
features of the PCRA program, shall be asset forth in PCRA program
materials. The PCRA program ma'terials are hereby incorporated by
reference and made a part' oflhis Agreement, except that Employer and
RC may from time to time mli,Wtually agree in writing to terms that vary
from the PCRA program materials.
...'~~;::;t~~~
,..,\"...,-:i~.,
:-'-'\.},~~,-
If City of Miami Beach finds these terms agreeable, please so indicate by
having the appropriate person sign and date this letter agreement in the
space indicated below.
Very truly yours,
/'7 I
, ,1/ II
f /(' 1.// 2/U'I\
/// ~. (
/IU ,r
V ./
Paul allagher
Corporate Secretary
Agreed:
~~.
Authorized Official
/if ~r 00
Date
2
IL.L /tf..'CT? I ()'-f;l./i
,d U L i.; ~ ~;; ;, ~U U h d ;;; k; H: 4?; .,' i; if, h" . ;; ;
'\;,,:~~~~,.~~~g~~~~t~ii~~~~~f~~/b~;.~~""
. . >: ':'>" \ "i, '" '~Jio:_''$- ...~~. ":'~ ':<.t ',,: f~. 't:. \:~: \: ,("\:: '':}. ;:~, .~: '''.';, .". '" \ '-:. ":'~- '" '; ~.~ .,.... ',. '" . '!"""
.;
PI""" Dote:. The Schw.& Pasoa.>! Choice Retirement AccoUDe (PCRA) n.=we", the use of a 1hizd-Pmy Administnlot (see Sea:ion 5). Opening a
PCRA docs DOC csublish 2. ~tirt:menc plm but certifies Uut you :l.re Ilring 2 pl.m document we allows you co conduct business 2t Charles Sch~ & Co.,
Inc. (Schwab).
Does your plan documeot permit the Trustce(s} to conduct bwiness at Charles Schw:lb &: Co.. Inc.J
~ Yes 0 No If DO, Schwab is una.ble to "'...,cepe this Account AppliC2tioa.
1. Please tell us about the business sponsoring your retirement plan.
3Uillle:s:i N::".:ne
Citv of Miami Beach
3".li."l~ Tu J) Number
23-09-329871-54C
2. Please tell us about your retirement plan.
Pi>nNarne !asitsiw"lda.op"",n <h',,",,"nt) City of Miami Beach 401A
Pi>n T"" lD Number !for""" "Porting .0"'1'",,)109219
Pi>n'"VUilingAddress 1700 Convention Center Drive
City/Scaco;Zip Miami B"'ach. F 1 13139
D"e Pi>n Esublished 1 9 9 5
Phone ( 305)
673-7000 Ext. 6211
F-.x (1 0 5
671-7'i?Q
Pi>n Conua NarneMs, Marv Gre8nwood, Exec. Asst
t-n C'i ....V ;\t1;:ll""lAc;c.r/T,Ahnr Rp.l ations
Type ofP1an:
o ?:-o~t S::;r...--..g n .'vioe-.::' ?'..:...""Cluse LOme: Qw.li5.ed ?!.m
[29 401 0457 0 Nonquilified Pi>n Note: This appliation "'" be used for 457pbns md nonqualiJied pbns ooly wh=== hdd in a Trust.
Ple:as.e list Trustee(s) who will be conducting busineSS ~t $(:hwm on beW o(che Plm. For mon: than 6ve Trustees. please 1cuch U11dditiorul sheet with
their amJ.es. uidres:ses and phone numbers. PI~e specifY below.my publicly tr:l.ded company of which 2. Trustee afch.: Trust is:l. director, 100ft! slureholder
or poucy-aubn.g officer. and my security finn, bmk.. ausc or insunncc company with which ;1 Trustee is 1ft'ifu.ced. (U.ch Trustee md Co-Trustee mtlSt
sign where indicated in ~cti.on 9.)
Trustee', Name City of Miami Beach
o Direc-.or 0 10% Slurehoider 0 Policy-Making Officer
AffiJi.m:d with: 0 Security Firm 0 &nl: 0 T lUSt Compmy
AffiJi.m:d Comp:my Name
Trustee', Pbon, ( 305 ) 673-000
Compmy Narn,Ci ty of Miami Beach
o lnsunnce Compmy
Ext.
6211
(conlil1lud on page 2)
FOR CHARLES SCHWAS USE ONLY
o NYSE 0 SEC 144 0 NR.A 0 AKA 0 CRS EMPL
Regist:racion Code
lndex as Documene Number
PT
1,4.5.6.7.52.67
Approved by
Narne of Approver (prim)
Dace Approved
Bnnch Office
Acc:ount Number
Pi>n lD Number
Umpaign Code
RPSPP
CharlesSd",..ab
Retirement Plan Services
.'
CI99llCJwiaSdl~A:Co..IIK, AIInl1bA~ McmbcrSfPCJNY"..L CR.S20JIO ICI098-O<II61
MlmS""""
. SectIon 2 (.-.....)
Co-Trus..... Name (if "l'P'iuJh1t) Co-Tnutee'. Phone (
o Dicecco, 0 10% Slweholder 0 PoIicy-M.Icing Oaieer Company Name
Al!iIimd with: 0 Security Firm 0 Bank 0 Trull Comp>n{ 0 lnoww:e Comp:any
Al!ili2ted Comp>ny Name
.,._;.....:.-,_.~~-
.,.,.,;;;'::'i~,
'-~_:o:/;':~:~tf&~
.'
Co- Trust..'. Name (if applimbk)
o Director 0 10% Shareholder 0 Poliey-M>kmg Ollicer
Al!ili2ted with: 0 Security Finn 0 B:>nk 0 Trust Comp:any
Afliliated Comp:any Name
Co-Trustee's Phone (
Comp:any Name
o Insunnce Company
Co-Trwtee', Name (if appl""hl,)
o Director 0 10"10 Shareholde, 0 Poliey-Making Officer
Alliliated 'Nuh: U S<c-,,-,"cy Finn U B:>nk U Trwt Comp:any
Mliliated Comp:any Name
Co-Trustee's Phone {
Comp:.ny Nmlc
U Insurance Comp:any
Co- Trw.ee', Name (if appliuJhk)
o Director 0 10"10 Shareholder 0 Poliey-Making Ollicer
Affiliated with: 0 Sccunty Finn 0 Bank 0 T rwt Comp:any
Mliliated Comp>ny Name
Co-Trustee's Phone (
Comp:any Name
o lnsunnc< Comp:any
3. How do you want your Participant accounts established at Schwab?
PC:RAs will be esablUhed for individual Participana under this hgr=nent .E.ach Participant = sign , Particip:ant Umited Power of Anomey (!.POA)
which concios the terms and conditions under which Sc.hw:tb 'Will aa on the insaucrions of the P:w:icip:.nt. By e.:<ccuang ti1iJ Schwab Penonal Choice
Rctironent Account'" MuCl.l2.l Funds Only P!a.n AppliC2rion. you authorize Schwab co ut on instructions rece.~ed on e1ch such LPGA. on me :ams md
conditions $eC forth. i..'1. Sec::ion 8.
Plc:a.se indiQ.tc interested parties you wish to authorize to receive duplicate sQtemenl:3 and! or confimuci.oQS for ill PCR.A.s rWted to this PUn.. Please pote
that Trostee(s) and Plan Sponsor will not receive this infor:rmrion unless indicated below. -
Name
o S_a 0 Coofumations
Add=s
City/Sate/Zip
Name
o Suremena 0 Coofumations
Add=s
City/Sute/Zip
Name
o Sutemena 0 Coofumations
Add=s
City/Sate/Zip
AD uninvested cash hdd in PCRAs will be automatically invested in the Schwab Money Mm:et Fund.
For more complete information >bout the Schwab Money Mm:et Fund including charges :and expenses, please read the enclosed prospectUS.
Bnnch Office
Account Number
....'
.'
.4. Trading Menu.
:
Trus<ec(s) acknowledce that they ue responsible for de,ermining whether any employer securities =y be acquired by , PCRA wi,hou, constituting,
violation of Sections 406 or 407 of ERISA and tha, 5chw.!> ,hall have no responsibility to nuke such detennimtion.
All PCRAs _iaud with the P1aD have the abilicy to Indo:'
Tax-Exemp. Mutu>! Fund
Mutual Funds: [XJ :\11 except those written below 0 Onc:Sourcc:/Schvn.bFunds onlyl 0 None except those writtcn below
I ^ p11'ticipu1t will never be restricted from selling a position if the: Plm changes the mding menu.
2 Mutwl Fund One.Sourcc. Funds md Schw:lbFunds have: no loads md no C'mSJ.ccon fees. Schw:l.b em ettect purduse'l and redemptions of sh.ues of these:
funds without ch.g 1lnlW;coon fee beausc: we receive remunc:nnon from the: registered investment compmy and/or its a.fii.fu.cc: for seMCe:s rendered
Ul caMeroon WIth the Ml,.IN~ Fund Onc:Sourcc: service:. The: remunc:nQon is based on the net asset vlluc: of cerum sh.a.res hdd in ~hwab customers'
brokc:nge accounts. Further inf'1rm.aaon LS ;!.v:U.bblc: upon request.
Fun~ecurity Description
CUSIP
Symbol
7hc: following :e:;mc::.ons 'Nill aucot1Ucally ~ coded on ill PCR.~:
. No ending on rmrgin or "tndc: awzy" trades.
. No deposit:s or withd.r:aw;ls by Puticipants into or out ofPCR.A.s.
. No i.nvescn~r.s ~ collectibles, fur-..lt=:, corn....nodicies, pn::cious ~e~ cr cu."'I'e:lcie:;.
5. Please tell us about your Third-Party Administrator.
ThinI-PmyAdminis=or(fPA) ICl1A Retirement Corporation
Chris Baker
TPll ContlCt NW1C
NUster Account Number
0800-84 j 7
M.iIing Addres3
777 North Capitol Street, NE
G IS h'7' Wash'ngton, D.C., 20002-4240
'''1 ",~.wp ~
Phone ( 202) 962-8076 ro( 202 ) 962-4601
By siguillg th.i:s Applic:ltion. the Trnst~(.s) ada1owiedge(s) dut me TPA will receive duplicate statemenu and con.6nnations. and will
have the ability to aDocau money to/from a plan-l~el account trom/to Participant aCCOW1t:$ as well u to instruct Schwab with respect
to the establ.i.shment and maintenance of Participant accoW1t:s including ptoceuing address cba.nges. -
Iftbe Trustee(s) does/do not wish to provide these powen to the TPA, SchW"i.b is unable to accept this Account Application.
Wlut uldition>! powen!='have the T"",ee(s) del<g>tcd '0 ""' TPA'
(pltaSt inicidl all that appiy. Trusta and all CrTrus'tt:S listtd in Scdion 2 mUS: initiaL.)
T,",,~
Co- TlWted
A.~
B.~
C~_
Relay =ling insttuctiollS. TPA must complCle LPOA. (Se< S<ction 6.)
Insauct Schw>b to disbum Plan funds to .. accOUD~ regist=d to the Plan Trustce(s) " Schw.!> or
momer finmcial institutioo, Wicbdnwal Power of Acromey (WPOA).
Authorize Schwab to deduct TP A fees md apem~ &om plm-Ievel account J.S d.ireaed by TP A..
Bnoch Office
Account Number
....'
6. Umlted P_.r of Attom.y (LPOA) to be ..ad and signed by the Third-Party Administrator.
Charl.s Schwab & Co., Inc.
Third-Party Administrator Ag....m.nt
Third-P.ny AdmilUstnlOr (!'PA) and Schw,b 'gro< dullh< ,uthonry conf<rr<d
by th< l.imn<<l Pow<!" o( Attorn')' (LPOA) Autho"",oon on this (orm ,h.n b<
acrciKd in a"ordancr: with the: (oUOwlng temu and conditions.
Authorization to Trade for Brokenage Account
TP ^ rmy place tr.I.ding orden for the Brokenge Account punuant to the
LPO^ Aumorw.oon in Section 9. The Trustees rruy tl:'volcc: the LPOA Jot Jony
tune by giving wriaen notice to SchW;1b. TP^ ~es not to ca( 1n)' acoons
dut cxce-ed its 1uthomy under the LPOA or my other ~c=emcm between TPA
md the Trusteo or Plm Sponsor.
Establishment of New Indiv1dual Participant Accounts and
Allocation of Contributions Among Participants' Accounts
SchW:l.b rruy (olio..... me lruauCtiOru oCthe TPA i.n e:sublishing individu.o.i
P:uticlpmt accouna md illoac.ng mlouna cnruierred to Schwlb amon~ :.~c
individ.1Ul. .1ccounts o(P!.m P:uo.opants. New !1ldi\,du.tl Puric.panc "',count
:nfomuc.on sp..uI be delivered elec:roruailv or in wnang ..ccorc:iing to Sch......".1o
~...iiocoru. ..\ll ~oc:.aon :mtruc:iOlU .;l-.;ill be delivered dearoruallv or in
..;...ntin% md sr.;.i! speoiY the .unount to be depamed in e2ch individw..l
Putic.ipmt ucount.
Schwab's Role
Scil'........b .Nill not ~ve 1=;:01 ,.::r c.x ..dvi,: md ....:ill ;:';j, ~::, re::oC"'.::-.e::C or
:evu:w lnVe::.::::'lC1, dcCoSlCns or ana' :.rtve:scnent ..d\,c: to me T?\. nor IS
$chW4b in my W':l.Y req>onsible for supavismg or :::norutocing ::nding in ~e
Brok.enge: II.ccaWlC-
Compliance with Applicable l...i:Iw
VA will comply W'ith ill ~ppliable ~(e wd fede.:-'J ;e-:-..m.ti: bVolS.
Compliance with NASO Conduct Rutes
TP A reproena md wm'1llts dut, wUd:S TP A tus given SchwW written notice
[0 the: contI"lry, TPA is not ":o.uoci.1ted" with.. member ofche N....corul
Associ.1tion ofSecunties De:uen. Inc. v.,thin me::neming of Rule 3050 oftbe
NASD's Conduct Ruie::. TP:\ ~ to 'P''= s.c;",\.'"ili ?roO"..pe '.vr::::;.::J. :lee;:: i
TP A bcu becomes :;0 u.sccuced.
Information
TPA will prom;'Uy provide 1.O.y inform4Qon rezowbiy requc:s.ted by Sc."tv.......o
coaceming the muu-ganenc of tile :Srok.~e Account or compliwce 'Nith d1U
Agn=ement. [f quescions we concaning complimce 'Nith any bw, TPA will
t:l.ke my ..roon believed oy Sc.b.~b to be o.ece:uary wd proper ~ ensure com-
pli.mce wid1 ..ppliabie 'uw. Tni:s provision shill noe be rod to imply Wt
SciJ.......w!us u:y auey :0 rup<:rl'ise or monitor TP.,\'s :::n.rugem:nt of ...,e
Broc::nge Account or compii..mce wtth ~lio.blc: b.M.
Indemnification
TPA wiD indemn.iiY md bold bmnles:s Sch~, ia 1ffii.iuc:s, md their directors.
otD.cet'l and employees from md agmut all d:.tims. actions, CostS, md lUbilities,
including ..ttOmey'~ f~. wing out of or reJ.ating to:
my brelch by TP 1\ of my provision of d1is Agre-..mene
the perfoom.nce or nonperfoamnce ofTPA's scvices; and.
my dispute between TPA and the Trustees, dle Plm Sponsor or the
P:uticipmt..
Arbitration Agreement
On behalf ofTPA and TPA's affi1ia~ agean, and. successors, TPA agrees
to settle by arbitntioD any coatroversy btrweca or among: the TP A.
and! Of Schwab, .5chmb's aBi1iates~ Schwab's oBi~ directon and
employees., which controversy relates to the Account Agr~ment with
SchW'ab, the Brokenge Account or account transactions. the lPOA (and
WPOA., aapplicabte) or in any WOIy arising out ofTPA'srelatioaship to
the Trust.ees or to Schwab, J.S provided in Section Ib of the Accoune
Agr<<ment. The foDowing d4clo$ur~..are. made pursU2nt to applicable
self-regulatory org-mization rules: (1) arbitration is final a.nd binding on
the patties; (2) the parties are waiving: their right to seek. remedies in
roan, including the right to a jury t:ria.I; (3) pre-ubitn.tion discovery is
tenenlly more limited than and different from court proceedings; (4) the
Br::mch Office
......
arbiaaton' award is not rcq,uittd to include factual 6ndinp 01' kpl tea~
soninc; and auy patty's ",ht to appnJ or to se-ek modification of rulings
by the orbilnlon ~ .aietly &miled; (5) lbe panel of arbilnlon will
typicaUy include I minority of arbimtors wbo were or art aBiliated
with the s.eauiaes industry,
No penoD shaD brine.. pUtAtive or certi.6ed lfW.s action to arbiention, nor
SHI to ttUoree any pre-dispule ubitn.tion agreement apinst any penon
who bas initialed in court I putative class action who is . membt-r of.
putative class wbo bas not opted out of the c~ with respect to ~y c.~
encompassed by the putatin cla.s.s action until; (1) tht class certificaClon IS
denied~ (2) the class is decertified; or (3) the customer is exduded from
the class by the court.
Such forbeanoce to enforce an agreement. to ubitn.te shaD noC coo.stiNte
2. waJver of any rights unde:- thi5 Agreement except to the extent stJ.ted
betein.
Trade Confirmations and Account Statements
Sc...,~ 'Nill. lend tnde conE..~tiom md ~aOUJ'lt Sc.te:ncn~ to P..."'ticipmo.,
T?:\ ll1d to chose p~es desigIutcd in Secoon 3.
i?A's Relationship to Schwab
17.". will I10C mlr=ent ~ the Trustee dut Sc.1.w-..b md TPA U'c :l.ffiJ.i2ted or
:-wve my re~tio~hip '=."(c~e as descnbed in this Agreement:: dut SchW:ib
endor.:~ or ~O:::OCl."':".'::::Cs TP,'\; dut Sc.~\l,'1.0 proV'!ces icg-..i ~,~~ ~d'llce. UW~[-
ffirnt ..civic: to ~e 17 A or ..dvice ~ putietili.c steeb. including ..dY1ce
involving suiubilit'l of md invesanent str:l.tegies for pmiculu nods: clut
S<:hw:1b pwi~:;\el:S in or review1 TPA's In~ dccisioru; or thJ.t Schw:l.b
~,SUpe:v1Sd Ot :noni,or: =:..d.ing in d'.e Pl.w'! ~cc.:;um,
Enti~ Agreement
This ~ee:n01t conuins ill of the ~ents. re'?r~enQcioru and undersQnd-
ings aude between TP A md $chW':l.b. All modiJiccoru and unendmena hereto
must be in v.riring w.d signed by both. p:z.rties.
As.signment
Sc.h~b Dl2Y ~ ics rights md obl.ig;1tioru under t!'8 ..\gr~c:m :0 :I...y :;ub-
ridWy, UDli.:ote or succes:sor by merger or consolidation w'ithoue notice to TP A.
or to my ocher entity uter thirty cbys' 'Ntlttdl notice co TPA.. TIA auy not
:l..SJign. this Agreement without Sch~'s prior wric:en Cans.:nt. n..is Ag:reo--ment
is bin~ upClCl1Jld will inure to the be:ne:it of the pU1Jes' suc.::::ssor: md :o.sszgns.
Waivers
Toe &.i1ure ,of eith.cr party at any rime to require pertOtD'Wlce by the ocher pwy
of my provmon of tius Agreement will cot :tffect in my -my me right to
require rucb. ~oc::nmce :l.C UlV cme mere::oiter. The 'Jw'4iver by eicha puty oC..
b~ch of w.; orovisiow hereof ""ill DOC be w.en or beld to be ... W'4iver of the
provision itsdt
Applicable Law
The bWl ot the SQt.e of Cilifom.ia.. as :o.pplied co agreements s4;oed and per-
fanned in Cilifo~ dull apply mcl bind the parties in my md ill quc:sriOIU
uising under chis Agreement, including questions of vilidicy, interprc:aoon md
pafonT.o1tlce.
T olephone Monttoring:
Schvnh IIl:ly record cdephone c.lls to monitOr the qtulity of service provided
and to verift securities rnnsacti.on infomucon.
Authorization to Pay Fee$ and E:tpenses
rfthe Truscee(s) have Indicated fm Section 5 on the previow page) dut the:
T nute<(,) Wllh Schwob to P'Y TP A (ees and "'P<"'<' dir<cuy to TP A. Schwob
is ~uthorized to pay TPA from the Pbn's account TPA's fees md expo:DSd. as
invoiced by TP1\. Schwab may redeem. money fund sh.aro In the Pl2n's account
to the earnt neco:ury to p...y such fees md expenses. Ln no event v.iII SchW'2b
b< wble to TPA onhe PUn fat Do~yment ofTPAfeesmdexpenses. TPb,
will proYlde Sch~b with O'Ue md ~te invoices of me TPA fees owed by
the Pbn. wd .""n send the T nutee{s) rimulcnc:ow \1oI'I"itten notification of the
1IDount invoiced to Schwab. Schv.4b m:ay rely on the invoices submitted by
TP A. wd Schw:l.b will h2.ve no rapoc.ribiliry to ca.lcu..bte or veritY fees or
expensa. so invoiced.
r"mtirnwJ on pag! 5)
Account Number
;A:ihw:.J$f;iPf.;::;ilJlfmEI_.
~:~:~!!!!~!~~!'~~~:':t~:~~~~~~>::'::~~g~57::~~:"'*:,~~,~!>o;=f~~;~!i~'~~:,~:L~'.'
7. Standing Authorization for Wire Transfers
A. Plan Lafonnation
[i] By checking this box and compieong crw Section i, you U'C ~g:-eems to provide sending authorization for wire tr.1nSfers on the terms set
fOr'"..h in cl-is Section 7.
p~ Name (111" indicatt::i in St:aion 2)
ritv of Miami Beach 401A
Trustee Name (as indiCAud in &aion 2)
Tbird. Puty Admi:list:'J.tor (TPA) Nunc IC1A Retiremen t Corpora tion
B. Account Information
Qe:.ringiPb.n-L...~d A.ccounc Registntion
O=in&/P!.n-L<vd Account N=.ber to Wire Funds From 4620-4222
lCMA Retirement Trust-Cash-out
Clearing Account
C. Receiving Bank Infonnation
Bank Nune First National Bank of Maryland
Bank Account Registntion lCMA Retirement Trust-457 Receiving Account
777 North Capitol Street, NE, Washington, DC 20002-4240
&ok Account Holder Add= (r<quir<d jo, all ~ansf",)
425-3800-1
Account Number at B4J'1k
For further Credit to Account N.une
FBO:PCRA
For Further C..dit to ACl:ount Number 306998
Bank ABA Number (American &nlUng Asse<i4tio. 9-digit numb.,.) 052-000-113
202-962-8281 (Patti Mikkelsen)
Bank Phone Number
D. Agreement
In respOnst:: to m electronic ashiering .6le received by Schwab from the Third
Party Administntor mentioned in Section 7 A riPA j (conQining instructions
to move c::ash froel pWcipant u:councs md/or the Plm-Levd account to the
aeWng/P~Level Account refc:n:nc.ed 2bove) or written inmuaions Q'2m-
mitted to Sc:.hvnb &om the TP A, the T nutee hereby authorizes Schwab to wire
"""fer my and .n .ccumubted funds in the Sdlw>b a~lan-Levd
Account applicable to the Trustee to the bank indicted in Section 7C. Such
wire tnmfeo sba1l occur no later dw1 the bwin= day fonowing the teceIpc
and proccsing of the deetrOnic ashiering instructions. A.D such wires should be
made in accordance with the above instructions and :It the direction of any
employee of the TP A authorized by the TP ^ to provide such iruauctions.
The Tm=: agrees to indemnify and boid Sd1wab md Schw>b', .mJi>cc. of!ice:s.
employees and agena harmless from and ag:Unst my loss, cWm, danuge or
liability uising out of or faulting from my action a.ken by Schwab in rdimce
upon instructioas provided under this Sunding Authorization which Sch\!nb In
good flith believes to b< genuine.
8. Terms of the Limited Power of Attomey (LPOA) under which each Participant may act.
Puticipmt md Schwah agree th2t the authority confared on Puticipmt by
che LPO^, Authorization conceming a Schwab PmorW. Choice Retirement
Accounc" U=D. be exercised in accotdmce with the foilowing tams and conditions.
Authorization to Trade for Brokerage Account
Puticipmt !mY place tnding orden for Brokcnge Account punwnt to the
LPOA. Trustee(s) ImY revoke the LPOA aC any time by giving written notice
to ~. Puticipmc agrees not to c:ai:e my ~ons dut exceed its authority
under the LPO^, or any other agreement between p:uticipmc and TtuStce(s)
or Pbn Sponsot.
Appointment of LJmtted Power of Attorney
By execution of a Schw:ab Pmona.! Choice Rc:rircmenc Account limited Power
B......ch OlIice
.'
o( Attorney, Puticipant gnna :luthority to Anomey-In-net to ~de in his/her
:lccaunC buc not to make withdnwili.
Schwab's Role
Schw:ab wiD not give leg1l or ax :ldvice and -.vill not give :ldvice to Putici~t
reg:uding particub.r stocks, including advice involving suiubility of and inve:st~
md1l stntcgic::s (or particular stocks; nor is Schw:ab in :If1Y way responsible (or
supervising or monitoring mding in the Brokenge Account.
Compliance with Applicable Low
participant will compty with all applicble sate and fedtr:U securities laws.
(continued on page 6)
AecoWlt Number
...s
SectIon 8 ""..wll
CompU.nc. with NASD Conduct R.....
Panicipmc ft'J'rcsena and wamna that, unlcsJ: P.uticiranl hJ.s ~vm Sch"'Jh
wrinen notice to the conU'U)'. Panicipml IS not ":usoc~ccd" \\idl a member of
<he N.tional Assoei2lion of Securities Dalm,lnc. within the me2lling of Rule
:3050 of<he NASD', Conduct RuI". Puticip2llt osrc" 10 p"c SchW2b prornpl
wriaen notice ifPuticipanc bter becomes so associated.
Information
Pattiep,ulE 'Nil! provide prompdy any infonmaon reasorubly requdtcd by
Schw:ab concerning the nurugemC111 of the Beokcnge Account or complUncc
wuh this Agreement. If quesaons arise concmUng complimcc 'Hith my bw,
Pwapmt will ~c any action believed by Schwab to be neces:s.uy and proper
to ensure compw.ncc "'-lth applicable law. ~ proVlSion stull not be rod to
implY tlut Sc.h~b Ius my duty to supervuc or marmor Puucxpmt's rYUJU~e-
ment of the Brokenge Account or complUncc \Vlm :l.ppuC4blc uv.'S.
Schw:l.b auy disclose P1tt:lcipmc's rume, lddres:s md shue positions upon
request to comp.mies whose se(unces oUt held in hroclpmt's account.
Indemnification
Pltti.cipanc will indcIIllW)r md hold hmnlcs SchW1b. Its ~tes, :and their
di..'tcton. olSco md =::r1?ioyee, from md ~ ill ~.:;. ;l.cCcns, ccs~ mc
'iiliiliol:. including marney's fees. .rising' out of 0: reha.r.g::o:
l.'1y ~re::.c.h by Pu-:::c:pmt of my provision of this Agreement; md
;...-:.v ::ii..'?'~te tx:t"......eat ?:..-ti.o.pmc md Trustee(s), or between Puticipmc md
?Lm Sponsor.
Puticip~nc wiD ;l.cknowledge that he/she is resporwble for determining the
ruture, potenti.1l V1lue md suio.hility of my patticub.r security, t:r:uW.aion or
inve:sttnent Slnteg'f md that Schvnb does aot give l~ or QX ;l.dvice or ;l.dvice
reptding puo.c..rUr ttOw. including ;l.dvice lnvol'lU'l.g swt'-oility of md invest-
ment stnteg1es for pUtlcular stocks.
Arbitration Agreement
On bebalf of Participant, Putidpant's ageDu, and U1y other persons
having or c.1aiming to have a legtl or beneficial inur~t in the actount,
PuticipUlt agrees to settle by arbitration any controveny between or
among Putidpant and/or Sch~, Sc.h:W'~b's affiliateS and Sch."r,ab's offi-
cen., directors and employees, which eontroveny relates to the AccoUllt
Agreement with Schwab. the Brokenge AccolD1t or account tnnsactiOD.S
and the LPOA or in my way arises oat ofParticipant's relationship to the
Trustee(s) or to Schlnb, I.J provided in Section 16 of the Accoant
A.;reement. The foDowing disdosares are made p1ttSU2.llt to applicable
self-regulatory orgaoiurion rules: (1) arbitration is fina.I and binding on
the partie~ (2) the patties are W1.iving their ri;f1t to seek remedies in
coatt, inc1tuiing the ri;ht to 1 jury trial; (3) pre-arbicr:uion discovery is
gencnlly more limited. than and different from coart proceedings; (4)
the arbitnton' awud is Dot requind to include factual findings or legal
. reasoning, and my pany's right to appeal or to seek modificatiol1 o{ rulings
9. Trustee(s) agreement with Schwab.
In our C2p2City.. T= ond, if2!'plicb!c, ill Co-Trusr= (collectively known
.. Trustees) ofth. TlUlt, Trustees b",by request t1ut Clurl.. Schw2b & Co..
Inc. (Schw.b) open a Brokenge: Account on heW of the Trust listed in Section
2 of this SchW4b Persorul Choice Retirc:mcm Account- Munul Funds Only
Pbn Application. Trusted 19ree CO rod :and be houad by the temlS of the
Account Agreeme:nc. wbid1 includes the Cash Account Agreement. the Schvnh
Sweep Fund. Agreanent. the SchW>!> Sttx:kBuilder PUn-Agreement 2nd other
written :ag:reemcna between the Trustees and Schw:ab, md Trustees agree to be
bound by the tmns of the Account Agreemenc due :apply co the Brokenge
Accouna;l.$ cumndy in effea:and as unended from time to time. If Trustees do
not receIVe or tmdenW1d the Account Agreement, TrusteeS y.i.D. norifY Schwab.
T rust.ees ;l.cblowledge due Schvnb doc:l: noc give leg::al or Q.X ~dvice, :and will
not ;l.dvise the Trustees concerning the nature, potencial value or suiobility for
the Trust of:my p;uricuhr security. tnn:SaCtion or invescmc:nt stntegY.
In considention of Sch\nb opening mdI or tnainQining Broke:ngc Accouna
for che Trust turned :above (the Trust), the undersigned Trustees of me Trust
~resent. wunnc :and catify dut the ~rc:senatioru cude in the Appliction
U"C' trUe, complete :and :accunte; thu the Trust is in fUn force :and effect; md t1ue
the Trust Agreement (:as defined above) has not been revoked.. modified or
amended in ury mmner which would ewe the represenations conClined in
chis hppliarion to be Uuccur:ue or inco~
Schvnb will rely on this Applie:ation :and upon the represenutions made herein
B~ch Office
......
.'
by the .,bilnlOn ia .criedy limiud; and (S) the p2nel of arbiln'on wiD
typic:aDy includ~ . minoriry of arbicncon who wen or an aHilialH with
the securities industry.
No persoa sbaD brine a puCltive or certified class action to ubiuuioa. DOr
seek to enforce any pre--dispute arbitntion _crummt apiNt any penon
who has initiated in (oun I putative cbss action who is a member of a
putative class wbo has Dot opted out o{ the dds with respect to aay
claims encompassed by the patlan class action until: (1) the class certifi-
cation u denied; (2) the class is decertified; or (3) the customer is excluded
from the class by the court..
Such forbearance to enlorce an agreement to arbitrate sh~n not corutitute
a waiver of any rights WIder this Agreement except to the enent Stated
berem.
Trade r:onfirmations and Account Statements
Unles.s Tnmee(s) direct(s) omet'N1Sc, Sch....."Jb will send cr1de contirnutions md
;l.ccount sUCemcna [0 Puocipmt and. if requested by Truscee(s), to those p:arties
desigruted in Section 3.
Entire Agreement
This 1\gr:ement concmu ill of the ~e01ent:S. re'?re:senc:uioro md u~o.nd-
ings nude between Pmicipmt md Schw:l.b. All modiJiQQons md mla1dmena
heretO mwt be in writing and signed by both puties.
As$ignment
Sc.h~b may :assign ia rights md obiig:lcions under chis Agreement to my sub-
sidUry, 1ffi.li:ate or successor by merger or consolid.:aaon 'N1thout noace co
Puticip:lJ1t. or to any ocher entity after thirty days' 'Nritten notice to P:a..."ticipant.
Pucicipanc auy Dot assign chis Agree:menc without Schv."';lb's prior writ:tm con-
sem. This .\greemenc is binding I.lpoa :and v.-ill inure [0 ~he benefit of the pu-
Des' successo~ md migns.
Waivers
The &ilure of either p:my ~ my time to require perfoamnce by the od:1er party
of my provision of tills Agree:ne:lt .....i1l not me::: in my W':IY the nghc to
require such pcriomunce :;ar :any ClIr:l1:: mereUt~=. The \lniver by either ;mtY of a
breu.h of my provisions hereof willl10C be c.U.en or held to be a w:Uve: of the
provision itseli
Applicable l.JIw
The b:ws of the sate of Uliforn..U.. ;1.$ applied to agr~ents signed and per-
formed in CilifornU. sfull 4ppry md bind the pwes in my md .111 questions
:arising under this Agrec:nem. including questions of v1lidity, iDtetpreaaon md
perfClmunce.
Telephone Monitoring
Schwab auy record telephone cills to monitor me qu.iliry of serrice provided
md to veritY securities tnns:lcUon intoc:n:ation.
unlc:s:s and until it receives ;I. written Notice of Amendment. written nocice of
dunged Trustees or written notice of my events affecang the Trusted' powe~
d~bed ;l.bove. The undersigned Trustees agree to lend written 1100c,e
prompdy to $chW1b of :my clunge in Trustees, of my 1Olendmeot or
modi1iation to the Trust Agreement which would ause the represcnations
conomed in this Appliction to be or becotl1C in2C01r.l.te or incorrect, or of the
occurrence of:atrf event wbich would affect the Trust', revocbility, the
Trustees' paWeD or my represenu.tions IlUde in this Application.
The Trustees indemnifY :and hold hmnless SchW'1b md och of ia officers.
directOrs, employees md ~ena from, :and hold such persons lurmless ~t,
my cWms, judgmena, surdurges. settlement llllouna or other Wbilities or costs
of defense or scttlement (mcluding ;l.ttDm~' fees) uis:ing out of or rebted to
my ;l.crual or :alleged improper or unsuiable ;l.cCoas eken .at such Tru.stee:'
insttuctions in connection with the Brokenge Accounts CSDblished u SchW1b
for the Trust. nus indemnifiooon is made by the undenigned T ruscec:s both in
their opacities :IS Trustees and in their individlUl e:apaciries, md duD. nO( be
limited by the Trustees' provision to SchW1b of independent docwnenotion
concerning the represenatioru cude herein.
The represenatioll5 md oblig:atioll5 stated herein dun survive tmnirucioQ o( the
Truscce Agreemrot md the Account Agreanent rehtll1g to the Trust's
Brok:enge Accounts.
(",ftli"utJ on pdg' 7)
Account Number
SectIon 9 (...Ii...eJ)
~onA__nt
Oa MbaJ( o(Tnutees and Tnutees' aBiJiaCes, 'ccou aod successors,
Trusues all'"' CO Mttle by arbicl'luion any contrOftny berwHD Tnuues,
.., Plan PulidpIDu and Schwab and/or IOY 50mb olIiIia.... ollie....
utdOn, ompIoy... or 'I..... rolalioc 10 die A<<OOll' Apocmea. or ow
Brokenc, Account or ICCOIID( tnnsactions, or ill UIf ""Y arisia.c from
ow ..latioasbip with 50mb, as provid.d in Seclioo 17, pip' Io-IJ of
the BtokeraC' Account Agreement. Tbe (oDowiDC disclosures are made
punoan' 10 Ipp6cabl. self-regulalory orpnizatioo rules: (1) arbitration u
Jinalaod binding on th. patties; (1) th. parties are wairinC th.ir right to
seek remedies in court, including the right to I jury trial; (3) pre-arbitr:l4
cion discovery is genenUy more limited than and different from court
proce-cdings; (4) the ubittaton' award is Dot required to include u.ctual
6nding5 or legal reasoning, and any pany's right to :appul or to snk
modification of I'Ulings by the arbitr:lton is Jtrictlr limited; (5) the pand
of arbitrators will typieaJly include ill minority of umtnton who wert or
are aBilia~d with the securities industry.
No penon shall bring J. putative or certified cla.u IctiOtl to arbitration, DOt
~k to enforce any pre-dispu~ ubicn.cioD .agremlftl.C agJ.inst my penon
-'<bo has iniri.aud in court 1 puocive da.ss actioo no is a memboer oi J.
putative class wbo ha3 cae opted olle of the cl.us with respect to any daims
tocomp:assed by the putative class actiOQ antil: (1) the c:b.ss c:.ertific:arioo is
denied. (2) the clan is decertified: or (J) the customer iJ excluded from the
~ ':11 the court.
Such (orbeannce to enforce aa agreement CO ubitn.te shaD. dot CODStitutt
a wUVef' of aay rights UDder this Agreement except to the extent stated
herein.
Authority of TPA
Ifa TIurd-Pmy Adc:unisC':lcot is named in Section 5, the provisions ofche
Limited Power of Attomey (LPOA) dcaibed herein '!>Ply " follow"
v..plw,u Statnn<nu "rut C""jinn4tiDns
TP A is authorized to receive duptiote Stl.ccmC1ts md confu:nucions under the
Trustees' repre:sent:ltions In Section 5. Schv.n.b will convey con.fiIm:a.tioa ofJ.ll
;aaiviry to TP A :and provide T? A with paper ttatemc:na md. if lJJplicable, both
the St:I.temc:nc:s and confumatioos rmy be l1'mSIJ1ined dc:ctronic:illy via
SchW2hLink. .
R.cl4y r......f I..m.aimu (IPOA)
IfTPAis authorized to ~ tnding insrructions under the Trustees' repre-
sentl.ti.oos in Seaion S. TPA I!l2y direct Schvnb.1S to the inY~ene o(the
Brok:er2gI= Account and to al:e othe: ..cooes o.cc:ess.uy or inodent::U to the
~cution of such instructions.
Schw:lb. and ocher pc:ooos to whom Schwab tus given ~":c::IC::'.s i.:J. ~..c.:=- ~..:l
iIIlpJancnr: TPA'J insa:uctiom. rmy rdy on TPA'J instructions wiwout obein-
ing my :a.ppro~ couneea:ignatu:re or eosign:uure. TIA'J authority will include,
without Iimiation:
The authority to give imtructioos for tnnsactions in securities and finm6J
insuumeDa, ;"cJudittg the b~ ",d selliog of =l:s, bonds, debentures,
notes. subscription w:unnts, stock purcluse W4ItU1.ts, options. mutu.al fund
slwo. evidences ofindebtedncss and any other JCC11ritic:s. imtrUmclO or
cono::a.ca rehting to ~ties.; and
Where nec=uy to complete any .tnnsaction. the 1Uth.Ority to tmufer.
conven, endooe, sd1, assign. Jet over .oed ddiva my assc:a held in the
Brokenge Account (the Accoum A.sseu) and to make, cxecute and deliver
my and all written instruments of assignment and a:ansfa.
The CemJ:s under which this authority is grmtcd are.set forth in Section 6.
Wi..FHW u.thepr-', Clw:JdnfA""""t"'A..tM-I~ (WPOA)
lfTPA is .auchorized co wire funds CO che Pbn'J ch.ecl::ing 2CGOune;at 1D.ocher
imticution under the Ttu:5tees' represenctioru in Section 5, TPA a:L:I.y direa
Banch Office
:
SchW2h 10 dUhune IUnds to pay hcnefus provided under the Plan or to pay
clurgcs .uthorized by the Ttuslees. hecordin{dy, Schwab. .uthorized 10 remit
ehccla, win: IUnds IIld cxherwis< mak, dishuncm<llo of IUndo held in the
Brokmge heeount to banks IIld other fimnci.l instiNtions ror the Plan',
beneti~ upon TI' h', written insauctions.
Whenever this LPOA (1Ild WPOh, if 'ppliable) is .<tIthed '0 my instrument
of ...~enl md <nnsfer, all p<JSOIlS sIuII be .ntide<!. wirhoulNnher inquiry
or investigation ",d reg>rdl... of the due of the lPOA (md WPOA, if.pplio-
ble). to :act in rdimce upon che 2SSumpaon due che Accoune &sea named in
such insaumene were duty md properly lnNfem:d. endoned. sold, .usigntd. Jet
over md delivered. md due Wltb respect eo such Accoune Assets the authonry
conferred herrin is still in tUn force md effect.
Payment of TPA 'Fees
IfSchw:l.b is authorized co deduct TPA fees under the Trustees' represenucons
in Secaon 5. Trustees.ogree dut the Truseees slu.Il be responsible for.ill C2.X
withholding md/ or t2.X reporting (Ulcll.lding, without limitation. IRS Foan
l099-MISC) with respect co .my such paymena. wd Schw:ab J~ luv~ no
r=sponsibility for my such Q.X reporting. The T rustceS 191"ee to mdemniiY .md
hold humle:s:J Schwab from my pcn:tlties tlu, o:uy be ~=SeC by the L'1te:m.al
R.evenue Service or my ether goVemtPClaJ ~uthority W1th respec: to Sc.h....~b..1
Ez.i1u~ to perfoan my Q;( reporting with respect ~o my nlch fee::: p~d co T?\.
Role of Charles Schwab & Co., Inc.
T rustee$ ,cknowie..l-ge md :J.gr~ tmt:
Sebw:ab will merely etrea tndcs " dir=cd hy TP h;
Schw:a.b wiD noe give invesane:ne ~dvice to TP A, or legal or ax .advice or
advice reg;uding pmicu.br sux:.b. including 1dvice involving suit2biliry of
.and invesc:nent sa:o.tegies for parocubr stocks. to the r rusted or rhe Plan
Sponsor;
Schom.b is Qoe ..cting as a 5ducUry.
The Trosto::s (and noe Schwab) are re:pomilile for investig:1ting u1d
sdecting TP h;
TPA is noc 1ffili1c.:d with or coo.croned or etn;lloyed by Schwab, and
$c.hwili lw noe .oppt'Oved, recommended or endoned TP A;
SchW4b lw no duty co supervise or monicar tr:l.ding by TP A in the
Bt'Ok~ Account:;
$chW4b has no duty to rrne'N dle docJments unde which me Plm. is
rruincined., to update cbe:se cioc.lments or to requot a detl:tnination letter
from the in~ Revenue Se:rvice conce.."Iling the Pbn doc.unena;
Scl'1~..b b.;u co duty :0 dete::mine or revi~ illoCltiom of .:oncnbutions
::.:::l.C~ ?-:..--:::~-:::.n~ Qr '-0 p<:::OC1 ;ny ~corCl:~mg ;i.mc::oru for me Plm:
Sc.hvnb h:as no duty to lnie'N Pl.m invcuoena ior complUnce with ERISA
(mcluding detamining wbetba my invesa:ne:o.a consritute prohibited a::uu-
actions under ERISA) or co determine whecha Plan i:o.vesanents will resule
in exposure to the c.x on unrelated business anble income, or co review
the Pbn documem:s CO lktctmine whether my invesanent instructions ue in
J..CCot"lbnce W1ch the temlS of the Pl2n;
SchW1b h2.s no duty to 2SSist in complying wich my obligations due may
he imposed under ERlSh. U1cludittg. Wlthout limiation. the r"P"rOng,
P=apltl, disdomre or bondittg mjUiro=a ofERlSh; ",d
Schvnb has no dury co asrist in complying with .any lcg1l obli.g1tions that
IIUY lJJPly co distributions from the Plm, to detemrine whether .any dismb-
urions arc required und.c:r the "required minimum distribution" rules of
the ImamJ Revenue Code, to dctc:c:nine whether UJ'f distributions chat
Schw.b may be insaucted CO trl2.k:e are properly 1uthorized uncia the a:rms
of the Pbn.. or co review my balefici2ry d~cions th:u m:ay be made by
Pbn P2!ticip.ana.
(continued on pdt' 8)
Accoont Nwnber
",7
Mail completed form to:
Chules SchW2b & CA., Inc.
Retirement Plan Services
P.O. Box 52086
Phoenix, AZ 85072-9209
Bnnch Office
.....
Account Number
_Ju~~!e-94 MOH le:~e ICMA RETIREMEHT CORP
::..:r ..-.
ICMA Retirement Corporation
Prototype Money Purchase
Plan & Trust ....
Adoption Agreement
~
101.'. ~
1\.&Tnu:.\IE.'ll'
COR.POllAUON
/
OOI-91F
3U~-le-94 MOH 18:51 leMA REtiREHE~Y CORP
2829624681
P.83
.-
,.
ICMA RETIREMENT CORPORATION
PROTOTYPE MONEY PURCHASE PLAN
.. & TRUST ADOPTION AGREEMENT
0001
Th~ Employer hereby establishes a Money Purchase Plan and Trust to be known as The C it v of Hi ami
Beach, Florida Defined Contribution Retirement Plan
\tho "Plan") in the fonn of the ICMA Retirement Corporation ProtOlype Money Purehase Plan and irusL This Plan is
amendment and resultement of an e~isting defined eonmbution money purchase plan. 0 Yos 0 ~
If yes. please specify the name of the defined conaibution money purchase plan which thb Plan hereby amends and restau
r.
Employer:
T~e City nf Mi~~~ 3qac~. F1Qr~~i
11. Prototype Sponsor:
Name:
Address:
ICMA Retirement CotpOration
777 N. Capitol Street, N.E.
Washington, D.C. 20002-4240
(202) 962-4600
Telephone Number:
1Il. The Effective Dale otlhe PlabSbaU bethe first day orlbe Plan Year during whIch the Employer adOptS.
Plan, unless an alternate Effective Date is hereby specified: Decem~r 17 _ 199?
Month/Day
/
IV. Plan Year will mean:
iAl The twelve (l2) consecutive month period that coincides with the limitation '1=. (See Scotion 6.05(1
the Plan.)
o
The twelve: (1 consecutive month period commencing on
thereof.
and. each anniver:
MoothIDay
V.
Normal Retirement A oshall be age
55
(oot to exceed age 65).
001
JUL-;S-94 MOH 18:~1 leMA RE!IREMEHT CORP
'28'29624681
P.84
"
'. .1
~
:
'.
.:....
VL
ELIGtBlLlTY llEQlJI'REMENTS:
1. The roUowing groups of Employees are eligible Ull*Iieipate il\ lIle Plan:
0- All EmplOYees
o A ',"-Time Employees
o S" . ,ed EmplOyee$
o Non-Union Employees
o Management Employees
o Public Sa-fety Employees
o General Employees
~ Other (specify below)
All Nnn-Civil Sprvi~p FmplQYPp~
2. The Employer hereby waives or reduces the requirement of a twelve (12) month Period of Servicc for
participation. The rcquited Period oC Service shall be N/A . (WrhcN/AifnnEmployee
is eligible to participate upon employment.)
If this waiver or reduction is elected, it shall apply to all Employees within lIle Covered Employment
Classification. -
3. A minimum agc require",..'t is heret '''Cified for eligibility to panicip.... The minimum age
,irementis filA \,....oexceedage21). (WrileN/AifnominimumageisdcclilfCd.)
VlI, CONTRlBUTION PROVISIONS
I, The Employer s~~ll contribute as fallows (choose one):
)( Fixed Employer Contributions Witb lit" Witbout Mandatory Participant Contributions,
The Employer shall contribute on behalf of each Participant {C % of
Earnings or S for lIle Plan Year (subjcctlo the limiUltions of Aniclc VI
oflbePlan). E:1ch Participalllis required 10 contrlbulC (0 %ofEamings or
$ far the Plan Year as a condition of pa.niCipalion in thc Plan. (Wrilc "0"
if no contribution is required.) If Participant contributions are required under this option, a
Participant shall not have the righllO discontinue or vary the ""C of suc,h contributions afler
becoming a Plan Participant. .
/
The Employer hereby elects 10 "piclc: up' the Mandatal)'lRequiscd particip:llll Contribution.
j1(. Yes 0 No
[NOli: to Employer: Neither an opinion letter issued by lIle Intcmal Rcvenuc Scrvice with respect
to the Prototype Plan, nor a detemlinalian letter issued 10 an adopting Employer is a ruling by the
Inrernal Revenue Service that Participantcanoibutions thatare picked up by the Employer arc not
includable in the Participant's grOSS income far federal income UlX purposes. The Employer may
seek .uch a ",ling.
Picked up conoibutions are excludable from the Participant's gross income under Section
4 \4(h)(2) of the Internal Revenue Code of 1986 if they meet the requiremcnL~ of Rev. Rul. 81-
JS, 1981-1 C.B. 2SS, Those requirements are (1) thatlhe Employer must specify lhutlhc
2
OOI.91F
.JU~-1a-94 MOM 16:52 leMA RETIREMENT tORP
2629624661
p..e~
..
'"
contributions, allhough d=ignau:d as Employee COIllribUlions. arc being paid. by lhe Emplo:
in lieu of contributions by the Employee; and (2) the Employee must not have the option
receiving the contributed amolll\tS ditcctly inSlC3d of having them paid by the Employer to .
Plan.]
o
fixed Employer M.tcb of P.rticipant Contributio\\S.
The Employer sh21l contribute on behalf of each Participllllt %
Earnings for the Plan Year (subject 10 the limitations of Articles V and VI oC the Plan) for '"
Plan Year that such Participant has contributed % of EarningS
S . Under this oplion, there is a single, fi>.cd rate of Employer conail
lions. but a Participant may decline to make the required Participant contributions in any P
Year. in which case no Employer contribution will be made on the Participant's behalf in l
Plan Y=.
,
. ct.t Yariable Employer Match of Participant Contributions.
,.
The Employer sh.ll comribute on behalf of each ParticilJ'lnt an amount dctcnnined as fo11o
(sUbjcct to the limitations of Articles V and VI of tlte Plan):
~ :-(~ % oftheconlributions made b~ "0 ParticipamfonhePlarl Y,
(nol including Particip""l contributions exceeding ~ 'l& of Ea
ings or S \;
o PLUS % of the contributions mace by the Participant Cor'
Plan Y c:u: in excess of those include<! in the .bove paragr.lph (but not includ:
Participant contributions exceeding in the aggregate 'l&
Earnings Of S \.
o Employer contributions on behalf of a Participant for a Plan Year shall not e>.cr
S or % of Earnings. whichever is
o more or 0 less.
2. Each Participant may make a volunlllry (un(l1;ltche<!), after-tax conaibution, subject to the limitations
Section 4.04 and Aniclcs V and VI oC the Plan.
erIycs 0 No
/
3. Employer contribUlions and Participant contributions shall be cOmribulCd to the Truslin accordance v.
thc following p3ymenl schedule;
Biweekly
VIII. EARNINGS
E:unings. as dcfined under Scclion 2.09 of the Plan, shall include:
I.
O,'cnime
o Yes Q No
1
Bonuses
o Yes a No
3
001.
JUL-18-94 MON 10:52 leMA RErIREM~HT CORP
2029624601
P.0E">
.' .",='..:J~w-:...~
.."'...~,
. '.':. ',. ..~~...
IX.
LIMITATION ON ALLOCATIONS
. . :":.1"
..
., .
If the Employer (1) maimains or ever maintained anolher qualified plan in which any Ponicipanl in this Plan is (or
was) a p' :-:i<;jpam or could possibly become a participant. and/or (ii) maintains a welfare bencfit fund (as derllled
in Scctiu" "19(0) of the Code) or an individual m. ::::aI aCCOlUll (as defllled in Sc:cuon4150)(2) of the Code. under
which am, ts axe treated as Annual Additions WIth respect to an'. ?articipant in this Plan). th.: Smployer heteby
agrees to h. .;nuibutions to all such, ..:S 3Sprovided herein. ifnetessary, in order 10 avoid ....cess eonltibulions
(as described in Sections 6.03 and 6.04 of the Plan).
1. If the Panicipanl is covered under another qualified defined conuibution plan maimained by me Em ploycr,
other than a Regional Protolype Plan. the provisions of Section 6.02(a) Ihrough (I) of me Plan will apply
as if lho other plan were a Master or ProtOtype Plan. unless anomer memod has been indicated below.
o Other Method. (provide the method under which the plans will limit lotal Annual Addilions 10
the MiUimum Pennissible Amount. and will properly reduce any excess amounts, in a m:l/lncr
thaI precludes Employer discretion.)
N/A
2. f me Panicip:l/l' is or has ever been a partieipan, in a delined benefi, plan maintained by tho Employer.
~ - . if the limitation in Sec,ion 6.04 of the Plan would be exceeded. then the Participant ;'rojcclCd AnntJ;l1
Benefi, under the defined benefit plan shall be reduced in accordanee with lhelanns thereof to the extent
neccssary 10 satisfy such limitation. If such plan d~ not provide for such n:duction. or if U1C limitation
isstiU exceeded after llle reduction. annual additions shall be reduced to the cXlOnl necess-V)' in llle manner
described in Settions6.01'hrough6.03. The methods of avoiding the limitation described in !his paragraph
will not apply if me Employer indicates another meUlod below.
o Other Memod. (Note to ;:mployer: Provide :o.uw language which will satisfy me 1.0 limitation
of section 415(e) of the Code. Such language must preclude Employer discretion. See section
1.415-1 of !he Regulations for guidance.)
II/A
3.
The limitation y= is llle following twelve (12) consecutive month period:
Mon1hlDay
/
"
4
OOI-91F
JUL-18-94 MON 10:S3 IeMA RETIREM~NY CORP
2029624601
P.07
X. VESTING PROVISIONS
The Employer bereby specifICS lbe foUowiqg vesting SCIIedule, subject to (l) lbe minimum _ling tcquiretncms as
nOted and (2) lbe concurrence of ...., Plan AdministtalOr.
Years of Specified Minimum
Service Percent Vesting
Completed Vestin~ Reauit"elnents..
Zero .Jill] % No minimum
One _% No minimum
Two _% No minimum
Three _% Not less than 10%
Four _'10 Not less than 40%
Five _% Not less than 60%
Six _% Notle:ss than 80%
Seven or more .!.Q!L% Must equal 100%
(.oThese minimum vesting requirernenrs conform 10 the Code's three- to seven-yellt vesting schedule. If the employee
bccomcs 100% vested by the completion of five year.; or service, then: is no minimum for years three and four.).
XI. INVESTMENT OI"fION
o A Pnrticipallt may direct hislher investment only to or inlO an investment option that provides _ 6Wl1llntee
of principal.
o
A Paniciprnu may direct hislher investment of not mon: than
option whicb does not provide any guarantee of principal.
% in an investment
q A Participant may direct hiS/ber investment. without restriction. among various investment options
available under the Trust.
o Specify any other invesunentrestrictions:
XII.
DENEFITS UPON SEPARATION
.'
I. Upon s""Paration from service for reason other than dealh, disability. or attainment of Normal Retirement
Age. the Participant may elect locommence receiving benefItS from the foltowingaccounlS. without regard
to age:
a)
Employer Conr.ribution Account (Nonforfeitable Interest)
~ Yes 0 No
b)
Participant Contribution Account (if applicablc)
(I Yes 0 No
c)
Participalll Ponable BenefilS ACCOWlt
t:l Yes 0 No
5
001.91:
r
JU~-la-94 MOH 11:49 leMA R~TIREMEHY CORP
2029624601
P.02
2. Ie uno- 10 any of the above. \he: earUca ago al which IhG Employer will allow a distribution ftOm the
Employer Contribution Accoum, \be I'3rticipant Portable BenefilS Accounl, and/or the Participant
Contribution Account, if applicable, shall be age (not later than NOrl!l:l1 Retire-
ment Age).
3. Notwithstanding Subsection (2) above, a distribution shall be made pursuant to Section 10.04 of the Plan,
De Minimis Accounts. Funhet. theParticipant shall be entitled [0 request that his/her entire Nonforfeitable
Interest in hiSlher Account be transferred to another plan, pursuant \0 Section 10.03 of the PI:lI\.
XIII. Loans are permitted "nder the Plan, as provided in Article XlV.
a Yes 0 No
XIV. The El1lployer hcrehy attests that it is a unit of state or local government or an agency or in.,trumentality
of one or more units of state or local government_
XV. The Prototype Sponsor hereby agrees to inform the Employer ofany amendments to the Plan made pursuant
tu Section 15.05 ot the Plan or of the discontinuance or abandonment of the Plan.
XVI. The t:mployer hereby appoints the Prototype Sponsor as the Plan Administrator pursuant to the t<rrns and
conditions orthe ICMA RF.:TIREMENT CORPORATION PROTOTYPE MONEY PURCHASE I'LAN &.
TRUST.
The Employer herehy agrees 10 the provisions of the Plan '" TnlSL
XVII. The Employer hereby acknowledges it understands that failure to properly fill out this Adoption Agreement
may result in disqualification of the Plan.
XVIII. An adopting Employer may not rely on a notification letter issued by the National or District Office of the
Internal Revenue Service as evidence that the Plan is qualified under se<:tion 401 of the Internal Revenue
Code. III order to obbin retiance with respect to plan qualification, tbe Employer must apply tu th.
appropriate key district office for a determination letter.
This Adoption Agreement may be used only in conjunction with basic Plan document number 00 I.
In Witness Whereof. the Employer hereby causes this Agzee\ncrIt to be =uled on Ibis
December . 19~.
17
day of
the Cit
Accepled: ICMA RE11RE~RPORA nON
By: ~....... \oj'
TItle: v"?/~~~ ~~
~ ~
A=t: - :L.,.."2f'~. U-( L .-J
~:
Attest:
FORM APPROVED
, LEGA~EPT. :/?
By \ /(2a..fL-u~ ~~~
Otlte /~/a /92-
ICMA RETIREMENT CORPORA lION. CORPORA re HEAOOlJAllTERS. nr NORTH CAprra. STREET. NE. WASHINGTON. DC 20002.<2<0
6
OO/.9IF
,
RESOLUTION NO.
90-19882
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE
MAYOR AND THE CITY CLERK TO EXECUTE THE
AGREEMENT BETWEEN THE CITY OF MIAMI BEACH AND
ICMA IUlTIREMENT CORPORATION AND TO EXECUTE
SUCH OTHER AGREEMENTS AND DOCUMENTS AS
NECESSARY TO IMPLEMENT THE PROGRAM.
WHEREAS, in Ordinance No. 83-2398, the city of Miami Beach
(the "City") has previously established a Deferred Compensation
Plan to be made available to all eligible City employees, elected
officials, and independent contractors pursuant to Federal
legislation permitting such Plans; and,
)
..../
WHEREAS, the City issued RFP No. 165-88/93 on July 6, 1989
calling for a deferred compensation provider with professional
administrator services; and,
WHEREAS, the ICMA Retirement Corporation responded to the RFP
with a proposal submitted to the City; and,
WHEREAS, the attached Agreement provides that ICMA Retirement
Corporation, as Plan Administrator, shall hold harmless and
indemnify the City, its appointed and elected officers and
participating employees from any loss resulting from leMA
Retirement Corporation or its Agent's failure to perform its duties
and services pursuant to the Agreement and the Deferred
Compensation Plan; and,
WHEREAS, the attached Agreement has been recommended by the
City Manager and form approved by the City Attorney.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, as follows:
1. The Mayor and the City Clerk are hereby authorized to
execute the attached Agreement between ICMA Retirement Corporation
and the City of Miami Beach and to execute all other necessary
documents and contracts to implement the program.
2.
The Declaration of Trust of the ICMA Retirement
is hereby executed by adoption of this Resolution.
Trust
PASSED and ADOPTED this
17th
day of
January
, 1990.
al.J'-
~
Vice-Mayor
Attest:
city Clerk
Form Approved
Legal Department
By: ~-S;;:;/7~
Date: 1/10/'1"
/ I
EC:lcd
Attachment
~
~~
(.(~;
~~~A,%
~"'-.fIro-.."'-..-;;:',Oj
'<<:~,
F. LOR '1 0 A 3 3 1 3 9
"V.4C.4 T1UNLAND U. S. ..1."
OFFICE OF THE CITY MANAGER
ROB W. PARKINS
CITY MANAGER
CITY RALL
1100 CONVENTION CENTER DRIVE
TELEPHONE: 673.7010
COMMISSION MEMORANDUM NO.
J 3 -fro
January 17, 1990
DATE'
Members
TO:
FROM:
SUBJECT:
APPROVAL OF HE DEFERRED COMPENSATION AGREEMENT FOR CITY
OF MIAMI BEACH EMPLOYEES WITH ICMA RETIREMENT CORPORATION
As a result of proposals submitted in response to RFP 165-
88/93, the City commission at its December 6, 1989 meeting
authorized the Administration to negotiate an Agreement with lCMA
Retirement Corporation.
The Agreement entered into provided that City of Miami Beach
Ordinance No. 83-2398 establishing a Deferred Compensation Plan,
adopted by the City of Miami Beach Commission on December 21, 1983,
will be adhered to and provide all city employees the necessary
protection provided therein.
ADMINISTRATION RECOMMENDATION
It is the recommendation of the Administration, that the City
commission authorize the Mayor and the City Clerk to execute the
attached Agreement between the City of Miami Beach and lCMA
Retirement Corporation and to execute all other necessary
agreements and documents to implement the Program.
RWP:EC:lcd
Attachment
/
10
AGENDA
ITEM
R-l- B
DATE
1-I7-QO
THIS AGREEMENT; made' and entered into this 30th day of
January
, 1990, by and between ICMA RETIREMENT CORPORATION,
a
npl~\o1i"1rp.
corporation, with its principal place of business
located at 1120 "G" street, N.W., suite 700, Washington, D.C.
20005, and (hereinafter referred to as "Administrator") and the
~CITY OF MIAIU BEACH, a political subdivision of the state of
Florida (hereinafter referred to as "Employer").
WHEREAS, in Ordinance No. 83-2398, the City has previously
established
a
Deferred
compensation
Plan
(the
IIDeferred
Compensation Planll); and,
/~".
WHEREAS, the Employer established a Deferred Compensation Plan
pursuant to City of Miami Beach Ordinance No. 83-2398 (the
(
.,
"Deferred Compensation Plann); and,
WHEREAS, the Administrator represents itself to be experienced
and qualified to counsel, advise, and implement the Deferred
Compensation Plan; and,
WHEREAS, the Administrator is capable of providing the
Employer with the administrative, marketing and service features
for the Deferred Compensation Plan; and,
WHEREAS, the Employer desires to engage the Administrator as
a non-exclusive administrative contractor for the Deferred
Compensation Plan and the Administrator desires to provide said
services.
NOW, THEREFORE, the parties to this Agreement, intending to
be legally bound, and in consideration of the mutual covenants,
provisions and warranties contained in this Agreement, do now agree
as follows:
A.
ADDointment.
The
Employer
/
hereby
appoints
the
Administrator as a non-exclusive administrative contractor for the
Deferred compensation Plan during the term of this Agreement. In
discharging its duties under this Agreement, the Administrator
shall act as trustee and assume all the fiduciary responsibilities
of a trustee.
1
B.
Administrator ResDonsibilities.
Administrator
The
agrees at its expense to do the following, subject to the approval
of the Employer:
1. Prepare a written Joinder Agreement;
2.
Establish and maintain rules for the administration
of the Deferred compensation Plan;
J. Coordinate the marketing and servicing activities
provided in this Agreement;
4. Prepare and distribute an informational booklet or
brochure to be furnished to all employees explaining and promoting
the Deferred compensation Plan;
5. Provide an adequate number of licensed and trained
representatives to explain and then enroll employees who desire to
participate in the Deferred Compensation Plan;
6. Cause contributions of employees participating in
the Deferred Compensation Plan to be invested in accordance with
the Joi~der Agreement between the Administrator and employee;
7. Maintain adequate service and representatives'
capabilities to handle the day-to-day requests of participating
employees;
8. Furnish each participating employee an itemized
statement of account on a calendar quarter basis;
9. Furnish the Employer with a detailed accounting as
to the Deferred compensation Plan on a calendar quarter basis, tha~'
identifies clearly all costs to employee, total contributions. as
/
well as quarterly, total yield as well as quarterly.
C.
EmDlover ResDonsibilities.
The Employer agrees at its
expense to:
1. Assist the Administrator in the development,
implementation and maintenance of the Deferred Compensation Plan;
2. Arrange for representatives of Administrator to
conduct orientation meetings with City employees;
1
J. Disseminate from time to time such promotional
material as may be provided by Administrator for employee
distrihution.
,
4.
Make
payroll
deductions
from
participating
employees' compensation as agreed upon and deliver same to
companies investing the deductions in investment contracts selected
by the Employ'ee;
5. 'Timely provide such information and approvals as '
required by the Administrator, upon its written request, for the
maintenance and promotion of the Deferred Compensation Plan;
6. Name a City official to act as contact for the
Administrator on behalf of the City.
7. Forward to the Administrator, in a manner agreed
upon by the parties, the deductions applied to the Deferred
compensation
compensation
Plan, ICMA Retirement corporation, Deferred
Manager, Cash
Account, Operations , 1120 "G" street, N.W., suite
700, Washington, D.C. 20005 and/or to such other accounts and/or
addresses as the Administrator may select by giving the city
Manager written notice of such addresses.
8. Execute by Resolution the Declaration of Trust of
,
the ICMA Retirement corporation, attached hereto as Exhibit A.
D. ComDensation. The Administrator shall not receive or be
entitled to any remuneration from the Employer for performing the
services required by this Agreement.
E.
Confidentia1itv.
The Administrator shall not sell,
bargain, convey, exhibit or otherwise abuse the employee list of
the Employer which is, and shall hereafter remain, the proprietary,
and confidential property of the Employer, to the extent allowea
/
by law.
F. Term. The term of this Agreement shall be one (1) year
from date hereof.
Employer agrees to provide thirty (30) days'
notice to Administrator of unsatisfactory and/or nonconforming
performance hereunder.
Administrator shall, thereafter, be
afforded sixty (60) days within which to cure and/or remedy
performance. This Agreement shall automatically terminate upon the
failure 1 of the Administrator to effect fully satisfactory
performance within sixty (60) days of receipt of such notice. This
Agreement may be renewed for successive one-year (1) periods, at
the sole discretion of the City Commission, thereafter if written
notice is provided by the Employer to the Administrator at least
ninety (90) days prior to the end of the initial term or at any
time thereafter.
The Administrator agrees to abide by the City'
commission's decision regarding any renewal of this Agreement.
G. Indemnification. Administrator agrees to indemnify and
hold harmless the Employer, and its individual officers, employees
and appropriate officials from any loss, claim, suit, demand, cause
of action, or controversy arising from the Administrator or its
agents' (including but not limited to the ICMA Retirement Trust)
failure to perform its duties and services pursuant to this
Agreement, whether it be in contract or in tort, in law or in
equity. The Administrator agrees to defend at its sole cost and
expense on behalf of the Employer any and all claims, suits,
actions, or controversies arising by virtue of this Agreement. The
Administrator will pay all judgments including interest, costs and
attorne~s' fees adjudicated or issued against the Employer.
H.
Notices.
All notices, consents, approvals or other
communications hereunder shall be in writing and duly provided if
delivered personally or sent certified mail, return receipt
requested, to the following addresses stated herein:
)\s to the Emo1over:
City Manager
City of Miami Beach
1700 Convention Center Drive
Miami Beach, Florida 33139
As to the Administrator:
ICMA Retirement corporation
1120 "G11 street, N.W., suite
Washington, D.C. 20005
700..
/
I.
The Administrator must provide proof of
Insurance.
insurance to the City prior to the commencement of this contract.
The Administrator agrees to maintain the following required
insurance coverages in full effect throughout the duration of this
contract. The Administrator, as satisfaction of the requirements,
will s~bmit original certificates of insurance to the city of Miami
Beach Risk Manager
Additionally,
renewal
for approval.
certificates will be forwarded to the city for any successive year
the Administrator's services are provided.
,
The required coverages are:
I) Professional Liability in the amount of $1,000,000 per
occurrence, written on an occurrence basis.
I f the
policy is a claims-made type, the policy must have ~n
extended reporting period of no less than four (4) years.
A certified copy of the policy must be provided to the
City.
2) Crime/Fidelity/Employee Dishonesty Bond in the amount of
$1,000,000 to cover loss of plan funds due to theft,
disappearance or dishonesty by the Administrator's
employees.
All insurance policies and bonds are to be issued by companies
.
licensed and authorized to do business in the state of Florida and
having a rating of at least B+VI per Best's Rating Guide, latest
edition.
All policies are to contain first dollar coverage. Any
altern~te insurance coverage will be subject to the prior approval
of the city of Miami Beach RiSk Manager.
J. Amendment. This Agreement may be amended in writing from
time to time by the mutual consent of the parties, which amendment
shall be attached hereto and made a part of this Agreement. Any
amendment to this Agreement shall require the same formalities as
were used for its adoption.
K. Governino Law. This Agreement shall be governed by aryd
construed according to the laws of the S tate of Florida. The
/
Administrator shall comply with all applicable Federal, state of
Florida, Dade County and City of Miami Beach laws, rules and
regulations pertaining to deferred compensation, including, without
limitation, City of Miami Beach Ordinance No. 83-2398, as may be
amended from time to time.
L. Venue. Any legal proceedings arising by virtue of this
Agreement shall be in Dade County, Florida.
1
M.
Assionments Prohibited.
The Administrator shall not
assign, sell, pledge, conveyor otherwise transfer its interest
T"l'lr~11.~n~ t-r"'l +-hi~ l\t'l""p~m~nt-. nr rl('\'p,.,.~+-D.....r ~~c::i("fn r:.n" nf it<=: rlllt-inc:
'.
and/or responsibilities under this Agreement, unless previously
authorized by the City commission. The City hereby agrees to the
designation
Retirement
corporation
of
ICMA
to
act
Administrator's agent in fulfilling certain of the administrative'
and marketing aspects of this Agreement. The City is relying on
the reputation and integrity of the Administrator in entering into
this Agreement and will be insecure in the event of any assignment
without the City's consent.
N.
ci tv Manaoer.
be the
The city Manager shall
administrator and manager of the Employer's responsibilities and
procedures which will arise by virtue of this Agreement. The City
Manager, in his professional discretion, may designate assistant
administrators and/or managers of the Deferred Compensation Plan
adopted by the Employer herein.
Any matter pertaining to this
Agreement which is not expressly set forth herein shall be with the
reasonable discretion of the city Manager.
0., Termination.
In addition to the termination for cause
provided for in paragraph F herein, the City shall have the right
to terminate this Agreement at the sole convenience of the City,
upon thirty (30) days written notice to Administrator.
P.
Entire Aoreement.
This Agreement shall constitute the
entire Agreement of the parties.
Q.
Reoresentations of Administrator.
The Administrator
hereby represents and warrants that all of the information provideq'
to the City in response to RFP No. 165-88/93 is true and corre9t.
/
Administrator hereby further warrants and represents that all
materials provided to City for dissemination to employees, and all
verbal presentations to employees shall be true and correct in all
material aspects and not misleading in any material way.
Administrator understands and agrees that the City is relying on
the truth of the foregoing representations in entering into the
Agreement.
1
as
,
as of the date and the year first written above.
IN WITNESS WHEREOF, the parties hereby execute this Agreement
ADMINISTRATOR:
ICMA Retirement corporation _
.Y\ f IJ.__~
President
Attest:
S~~;~~W--
EMPLOYER:
CITY OF MIAMI BEACH
BY~
Vice- Mayor
Attest:
Uw-:<j .hi W~./
city Clerk
FORM APPROVED
LEGAL DEPARTMENT
By:~??($ ~
. Date: I/I"'/t"
I (
EC:1cd
,/
,
'.
)
DECLARATION OF TRUST
OF
ICMA RETIREMENT TRUST
ARTICLE I. NAME AND DEFINITIONS
SecUon 1.1 N.me: The Name 01 the Trust as amended and restated hereby
,. the leMA R.Il,erne"l Trust
Section 1.2 Deflnltlon.: Whe,ewr they are used herein. the lollOWtrlQ terms
lhaO ~ Ihe loIIONing respecllve meanings
ea) By-Laws. The By.Laws referred 10 in Section 4.1 h8feol. as amended Irom
tim.lo lime.
(bl Deferred CornpeN8lion Plan. A deferred ccmpensalion plan establiShed
and mainrained bt' a Public Employe, lor lhe purpose 01 providing retire-
ment inCOme and olher deferred benefits 10 i'ls employees in accordance
with the prcMsiONl 01 sec1ion 457 01 the Internal Revenue Code of 1954.
as amended.
(el Empfo'fees. Those emplOfeeS who par1idpale in Qualified Plans
(d) Employer Trust A Itus! crealecl punouant 10 an agreement between AC
and a Public Employer IOf the porpose 01 investing and admif\lstering the
lunos set aside by SUCh Employer in connection with ils Deferred Compen.
salion aoreemerts wiltt its emplo,oees or tn connection with its OuaMied Plan.
Ie) Guar8nteed Investment Contract A COnlract entered into by the Retire.
menc Trust with insurlllnce companies thaI provides lor a guaranteed rate
01 return on irweSlments made pursuant to such conlracl
(I) tCMA. The Internadorial City Management Assoclalion.
(g) ICMAIRC Trustees. Those Trustees elected by the Public Empl~~ who.
in ax:on:tance with the ploviSions 01 Section 3.1(a) hereof, are also memo
bers ~ !he Board ~ Directors oIlCMA or RC.
Ih) 1l1lr8SCment Advisef: The Ir?'estment ~viset' Ihal enters inlo a contract
with the Retiremenl Trusl 10 plCJ'<iide advlce wilh respecl 10 investment 01
lhe """ Property.
(i) Pottfofios. The Portfolios 01 investments established by lhe Investment
Adviser to the Retirement Trust. under the supervision of the Trustees. lot
!he purpose of providing investments fer Ihe Trust Property.
lD Public Emp/ojee 1i'ustees. Those Tivstees elected by the Public EmplC1','e~
who, 1" .ocordance wi'lh Ihe prCJ'<iiSions'oI Section 3.1(a) hereof. are fulHime
empIa,oees of Public: Employers.
(k) Public Employer li'ustees. Public Emplovers who serve as truSlees of
the Oualilled Plans.
(J) Public EmplC7fer. A unil 01 stale Of local gCl"le(nmenl, or any agency or
instrumentality thereof. that has adopted a Deferred Compensation Plan or
a Qualified Plan and has execU!ed thIS Declaration of Trust
(m) Qualified Plan. A plan sponsored by a Public Employer lor Ihe purpose
01 prtMdino retirement income to ilJ employees which satisfies the Qualipj.
cation requlr8mtntl d Seclion 401 01 the Internal Revenua Code. as
...ended.
(n) RC. The International City Management Association Retirement Cor~
...tion.
(0) Retlremenl Trusl The Trusl created by Ihls Dectarallon 01 TrUSI
lp) Trust Property The amounlS held In Ihe Aellfemenl Trusl on behall of 1\'1e PublIC
Employers In connectron WIth Dllleued Compensallon Plans and on benal! rJ Ine
Public Employer Truslees lor Ihe ell:ctusive benefil of Employees pursuant 10 OJali.
lied Plans The Trusl Property shall Include any 'ncome resuUing Irom 1M ;I"/8SI.
ment of Ihe amounts so held
(Q) Trustees, The PubliC Employee Trustees and ICMAlRC Trustees elected I:Pt 1M
Public Employers 10 ser--e as members oIlhe Board 01 Trustees 01 the Retlf~ent
Trust
ARTICLE II. CAElTION AND PURPOSE OF THE TRUST; OWNERSHIP
OF TRUST PROPERTY
Section 2.1 ere.llon: The Retiremenl TfU$! is created and establishe1 by
the ell:ecution rJ this Oeclaralion of Trust by the Trustees and the PuOlIC
EmpllJters
Section 2.2 Purpose: The purpose ollha Retiremenl Trust IS 10 prCNIOe lor
the commingled il1'\lestment 01 funds held by the Public Employers in connec.
lion with their Oelerred Compensation and Ouahlied Plans, The Trust P'op-
erty shan be il1'\fesled in the Portlolios. in Guaranlted Inveslment Contracts.
and In olher i~slmenls recommended by Iha I~tment Adviser under tne
supervision of \he Board rJ Trvszees. No pari 01' the Trusl Property WIll be lrM!!Sted
in securities issued by Public emp/~rs.
Section 2.3 Owne...hlp of 1hJ.t Property: The Trustees shall have Ieosl
litle to the Trust Property The Pubfic Employers shall be the benarrcial O*ners
oItne portion of Ihe Trust Ploperty allocable to the Deferred Compensabon
Plans The portion 01 the TruSI Property a60cable 10 Ihe Qualified Plans snalt
be held lor the Public Employer iuSlee5 tor the exclusive benefil d !he
Employees.
ARTICLE Ill. TRUSTEES
Section 3.1 Number .nd QuaUflcallon of Tru.t....
(a) The Board of Trustees shall consist of nine Trustees_ Five ollhe Trustees
snail be lull.time employees of a Public Employer (Ihe Public Employee
Tru~ees) who are au1horized by such Public Employer to serve as 'fruSlee
The remaining lour Trustees shall consist 01 two persons who. allhe time of
eleclion to the Board of Trustees. are members 01 the Board of Directors 01
ICMA and two persons who. at the lime of election, ara membefjJOf the Board
at Oirec!ors 01 RC (the ICMAlRC TruSlees), One 01 the Trustees who is a director
oIICMA, and one 01 !he Trustees who is a direclor 0' AC. shall. altne ::me
of election, be full.time employees of a Public Empl~;:
(bl No person may serve as a Trustee lor more than one lerm in any ten-year
period.
Section 3.2 Election and Term.
(al Excepllor the Trustees apponled to liN vacancies pur5uanllo Section 3_5
nereof. the Trustees shall be efected bot a \ICIle 01 a matotlly of tne P1.lblic
Employe", in accordance with the procedures set lortt\ in Ihe By.Laws.
Ihl "t!hn Itr...I....!(:I'no", Tru!i100'l. '1'>1,...' .'.";I~ ;I',," tv? .."",,..., '01 l'r,'"
." thrN yeilr,:. ....,,... frumfM!!l 0;1''''' N> .>If11'.'1!"1 "''' " 'm"' "I 'wn ,'~,lIo; ,,1',1 tp,"~"
rn..srocn -.hod bn ofl>r.fod lot "Iorm ~ ~,,~ ('I:t. A,.mr." !lull','''IIII'''' .."..:Ioon
....,ef! TrulteM VIAl be elOClutl lOr .. l('Im "".,IIt': ~iII!; Arlit 'jnlol h'5 nr hl'l
successor tS etecled .nc1 QualifIed
Section 3.3 NomI...tlonl: T"'e Tfuslees 'II"'''' .111,1011 "mp emOlovnr.r. 01 Puhl'c
Emotoyets Wi .,..... ,IS Ihe Nomlnallng Cf)l'I'Im.nec 101 ~hf! Pub/!(: EmploYl!t'
Tru~ Jhe Nanrn.1flnq Comrmnoo snail ctvLl'il! ':arvjrd.'I~ lor Pl/hll(': Em,"""""
Tru~ees ,n accordance WIth Ihe P'OCedu'e";. 1et lor1h ,n thl! Bv la_
Slctlon 3.. A..lonatlon Ind R.mow!.
lal A.", Trustee may leSl9n as Trustee ,,*1l~OUI need 'or DnOI or subsequenl
accountlflQ) by .In Inslrument ,n ""filIng "';ined ~ Ihe Truslee and dell-.ered
to ltIe ether Joust"' and such r8SIQnabon shall be effec:tl...e upon suel'l deII\1IfY.
Of .I' alaler dale accordmg to the lerms 01 the Instrumenl. Art( of the Trustees
may be rerT\Ooled lOr cause. by a VOle 01 a malOfllV of Ihe Public Empl0'f8rs
lb) Each Pubic Employee Trustee shan te5lgn hIS 01 her poSllton as fruslee
wchin sxt'V da.,.s 01 the dale on which MOl' sfle ceases 10 be a lull. lime emplCJlr1*'
01 a Public Employvr.
Section 3.5 YII~ncl.l: The lerm 01 oHice 0' a Trustee shall lermlnale and
. YKancy ShII occur in Ihe evenl 01 the dealh. resrgnation. removal. adjudi-
caled incompetence or other incapaclly to perform Ihe duties of the office 0'
a Trust... In the case of a vacancy, Ihe rtr'1alniflQ Trustees snail appolnl such
person IS IhIy In their discretion shall.. ftl (SUbject 10 Ihe limilahons sel tonh
In tNs s.cslon), to serve 10f" Ihe UnelCpired portion of Ifle lerm of Ihe Truslee
'Who hII. rftigMd Of otherwi.e c..sed to be a Trustee The appointment shall
be made bv a written .nstrument signed by a majority of Ihe Trustees The per.
son appointed mull be the same type d itustee (i.e., Public Employee frus.
lee Of tCMAlAC 'lustee) as Ihe ~ 'M10 has ceased 10 be a Trustee. An
appointmenl 01 . Trustee may be made in anticipalion 01 a vacancy to occur
aI . .. date bt reeson cI retiremenl 01 resignation, ptcMded thai such appoint-
menl th8I not become lItlectiYe prior to such retirement or reSlgnalion. When-
IYef . vacancy in the number 01 Trustees shall occur. unit! such vacancy is
filled as provided in lhis Seclion 3.5. the Trustees in offICe. regardless of Iheir
number, sh8lI have alllhe poNers granted 10 the Trustees and shall discha'ge
althe duties imposed upon Ihe TruSleoes by 'his Declaration. A written instru.
mel"ll cenifyif\Q lhe ellistence 04 such \'8Cancy signed by a majorily oIlhe
ltuSlees shall be conclusive evidence of the existence ol such vacancy
'-clio" 3.' h..... Serve In Repr...entlUve Capalclty: Bv execuling
this 0edar8ti0n. each Public Empo,. agrees lhaI: !he Public Employee lustees
eIecled bv the Public E'"I'I~rs are aulhonzed to act as agents and represen-
lativa 01 the Public Employers cdIectively.
ARTICLlIY. POWERS OF TRUSTEES
SectIon 4.1 GeM'" Powers: The Trustees shall have Ihe puwer 10 conduct
hi bulIiness dlhe lusI and IoC8lT'f on its operalions.. s...ctl pc7M!I' shall irdode.
but thai not be limited to. the poM!f to:
(a) reeeNe ,.. 1tust Property II'tllTl the P1Jbfic Empl~~, Public Employer
li"uslees or other TruSlee 01 any empl~r Trust
(b) entef into a contracl with an ll'TV8Stment .Adviser prcMding. among other
things. lot the eslabfishmenl and operation of the Portiolios, selection of Ihe
Guaranteed kMtstmenc ContractS in whirih the li'usl Property may be il'fo.'8sled,
selllCtion d ClIher irM!sIments b \he 'iusl Property and the payment d reasona-
ble tees 10 the Investmenl htviser and 10 any sub-irt.leStmenl adviser retained
bv the lrwestmenl .Adviser:
(c) review annuelly the pertofmance 01 the Investment Adviser and approve
annualy the contract wilh such I~menl Mviser;
(d) irNeM and nlil'Misllhe liusl Property in !he Portldios. !he Guaranteed Irterest
Cc:rrtrads ard in.", other itMtstment ..........,.,"='lded by !he Irr.oestmert hMser.
but not inclucting t8CUrities issued by Puljic Emp(oyers. pn:Mded !hal if a Pul::iic
Employer has directed thaI its monies be Inwslecl in specified Portiolios or
in a <luaranceed Il'MeStmenl Conlracl. the Trustees d the Retirement Trust snail
i""8ll aleh monies In accordance witfl such direclions:
Ie) keep such potlion of the ll'usl Property in cash or cash balances as Ihe
Trullees. Ifom lime to lime. may deem 10 be in lf1e besI interest of the Rmi'8-
men! Trull crealed hereby. wilhout liability lor inlerest mereon;
1'1 .)f.rrp "..I ""..' '. ".f" '""" ,'I 1/'f!'Y ,ni"- dCf!m illt..'o;.lIJlI! .II'Y .~". "
'It", '" '11' ,~. Of'lr"''', ''1'",'"'1'''1 'II 1l',rlUllOO by If'll"" J5 tr"\lf!"!'; "'I'!U~'.'~:I~'
oN"",I""." ,." -~".' ,,,... I.""'",." .."r." Pt'OP("'V would normally t.le Qt.t"-' "."",
.1'; 'OVI";'''''~'''', "'!"~.. "":1
I'll r:,1U'''~ ~I"t ',1'(. ,"':"..,r ')!hl!l (I1Ct('leny h~d as pari of ""e T,usl P'~..(.oO:'-:{
10 tm "~.,,,;r~'l!tI n" ': ""mf'! mlho R"hlllfTlent rrusl or.n Ihe name'" a"""'"
nl'll. ,INJ Irl h"lld ,)", ......,..Im'lnl-:. 'M b,ulIer 101m. but Ihe DoOkS aM I'I! :"'1";
I}I Ihu lIU~ICW, -,1'a' ~~ all hmc~. sJ"t(lllor Ihal alt such InveSlments are a tAt' 01
n,1'! rrll';t PtO[)l'rlv
(hI makl'!. ".ecutl!. 't'."nr"""edl)l!, at>O dell....r any and all d~Umenls r:J !Ians
fer anti cOIlV1.!yal"'Gf! It".(l-lny atnd all ,lthellnSlruments lhal may be ~e-s.\afY
0' applopllale to ......3.. ( OUI Ihe ~~ her8m Qranled: "
(i) YOte upOn a~ ~(.C.I' oonds. 01 other secunttes: go... oeneral or specIal pror.es
or poNers 01 an()fOl!'/ ""Ih or wlthOul power of subslllulton; fllterose anv con.
versIon pmfl'eges. ~.tlscrtphon rU;;Jhls.. or olher options. anCl make any pay.
menls Incldenlal Ihe''!Io. oppose. or consenl 10. or olherWfSB panfC1pa1e In,
cOlporate r8Olganll%ons or other changes effecting corparate securities and
delegate do'loetlonar, ~rs. and pay any assessmenlS or charoes In ':On'
nection therew.lh. a.oj generally exercise any of Ihe powers ~ an owner Mlh
respect 10 stocks, was. securities or olher proper1V held as pari 01 the }us!
Properlv:
ij) entel inlo conlract!. or arrangementS lor goods or servrces 'eQulred.n r;on.
nechon wllh Ihe ODe"alton of "'e Retlfemenl Trust, Includil'lQ, but not hmlled
10. conllaclS wltfl cU$'oolans and cont'acts for Ihe prOll'Slon of admlOlst'i!!lve
S8f\iICes:
(kl borrow or raise ""I)ney for Ihe purposes oJ the Rellrement TruSI.n such
amount. and upon SLa'llerms and COI'Otions" as !he luslees !#laII deem a!Nls.
able. plovrded Ihall~~ aggregale .af'TI<<Int 01 such borrOrYings sf1aH not 8lfCeed
JO% of Ihe value ~!l'1e iust p,operty No person lending money to the 'iusrees
shall be bound 10 see the applicallOfl r:J Ihe money lenl or to InqUIre 11110 its
validitV. e_pedlency ct propriety 01 any such borrowing;
(I) incur reasonable e.oenses as required lor lhe operation 01 the RetrrefT'lenl
Trus! and deducl Sl.01 e_penses 110m lhe li'ust Property;
(m) pay expenses prQOelly allocable to the Trust ProperlV .ncuned in connec.
tion wilh Ihe Delen~'Compensation Plans, Qualilied Plans. OIIf1e Empl~er
Tlusts and dedUCI such expenses Irom thai ponion 01 the Trust Propertf 10
whom such expenses are property allocable:
(n) payout oIlhe TII..I51' Propenv all real and personal property !axes, incctne
lalles and other talles ':i any and all kinds which, in !he opir'lOf'l d the liusaees,
are properly levied. ry assessed under 8llisting OIluture laws upon. or in resoecl
of. the Trust Property and allocale any such taxes to the appropnate ICCOUnIS:
(0) adoPt. amend ar(l repeal Ihe By-Laws, provided thai suefl By-laws are
al all limes consisle... wllh Ifle lerms oIlhis Declaration of Trust
(pI employ peF50ns 10 make available inlereslS in tfle Rebremenl Trust 10
employer.;; eli91ble 10 rnainlain a Defened Compensation Plan unde' Sec:::on
457 or a Ouallfied f'I.an under SectiOfl 401 of the lnterl"lal Rl!'IIenue COde. as
amended:
('ll issue Ifle Annual Repon of the Retilemenlli"usl. and Ihe di9CIosure ClOCU.
ments and OCher literarure used by the Retiremenl Trust:
(rl make loans. including Ifle purchase 01 debt obligations. ptoYided lhal all
such loans shall be&: interest al the currene markel rale;
(s) conlract lor. and oelegale art( poM!nI granted hereunder 10. such officers,
agents. empla,oees. aujllors and allorneys as !he luSl.ees may selec!. pto.'IOed
thallhe Truslees may not. delegale !he pQ'III'ers setlonh in P8rlglllphS (b). Ic)
and (0) oIlhl!! Sectr()"l 4.1 and may nol delegale any poMlitS II ~h delega.
lion 'NOUld violale the, fidUCiary duties:
(I) prtNide lor the inoemnilicalion of the officers and liustees ol'the Reliremenl
Trust and purchase \juciary insurance; /"
(u) maintain books and records. including separale accounts lor each Puolic
Employer, Public EIT'C1oyer frustee or Empl0J'8r Trust and suctI addilional sep-
arate accaun15 as a~ 'equired under. and consistent wilh. lhe Deferred C"m.
pensalion or Oualt~ed Plan of each Public Employer; and
(v) do all such acls. take all such proceedings. and e.en::ise all such ngh15
and privileges. a/ttlou;f1 not speci~ merCioned herein, as the 1uslees INrf
deerT!. necessary 01 appropriale 10 administe' the Trust Property and 10 cany
aul the purposes ~ :tie Reliremenl lust.
s.cuon 4.2 Of.trtbuUon of "",.t Property: ()'2"r...""no:'~ ,.., '''.~l P'llll
._, .r....'iI' mad"'Cl 'M' ')nhr'1,IIlnf l"'r.oP'/bllC E,"IJt~.r.' "'.ufl'.rmnlnVf.r
""..JI!P. n .lCr;nrrlllflc;'~ fWtftl 11lf1lrrm'j d ''''" D"c,~,,~ ':omVP.' ....,,"" PI,l"O:.
~'MIo"':o'J 1'101'1": UI (mn'oY'c' r'll!:t!' rho TlU';1fMJ'j rtf 'hI) ~r.ot.",..,.,,,, r'u!ll stt.lll
c.. ftJl', prOlftCfr.tJ '" ma.unq pa'f'monl5 In ;1Cr.ord.1fY,.1) ""I'" .tle 1"p.cllon!> 01
"""P..tkE~..Putft:Em~ Tru!:leMOI"'hef i'J<ioorJtt>eE"lplo,or.r
'h,,~ M1houl.1Sr.r."a'ntnQ whetMt' SUCh paVmenf!< ~'t:!.n cnmCJl.ltrv:e Mlh Ihr.
."".,.....0"5 rJ Ih" DP.lclled ComponSOllon or OwIhlrIl'd P1a~. or 't~ ~recmttnl$
. ..,,,oI"~ ~htr ElnClovel TtU:lIs
SectIon 4.3 E.ecullon of Ine.rumen"': fhe T'U!;le~.. may ....nanlmously
JeSlqMale.ny one or mor" 01' Iho Truslees 10 e.ec:ule arrv ,,,slrumerll Ol' doc:u
-."" on behall 01' all. Including bUl nm I","'led 10 lhe 511)nJng ." ~ndorwmenl
.;, .,.", check and Ihe SIgning of anyapelleallons. 'nsu,anee and OIhe, con.
~. anet The aclion of such deSlgnaled Trustee or Truslees .."..tl have Ihe
WfTIe bee and effeCl '5 I' laken by all Ihe TruSTees
AATlCU V. DUTY OF CARE AND LIABILITY DF TRUSTEES
SctctIon 5.1 Duty of c.rw: In exercisifIQ Ihe pcMIers hereinbefore granted 10
lr'I. l-US1ees. Ihe TruSlees shall perform all acts wilhln lhel' authOlIly lor lhe
erctusive purpose 01 plOVIding benelils lor Ihe Public Employel"S In connec.
lICln with OIfetred Compensation Plans and Public Ernpoyer Trus:lees plJlSUanl
:tl Oualified Plans, and $han perform such acts with the cafe, ,kIN. pfudence
~ diligence in Ihe cIrcumstances then prevailing Ih.! . orudenl person acl.
"9 ,n alike capacily and familiar with such mane's IIl'OUld use In Ihe conducl
CI an enlltfJ)nM 01 . ~ke characle, end Wllh like alms
SectIon 5.2 LIability: The Trustees shalt no! be Qable lot arry ,",stake 04 fUdg.
:nerc Of other lCtion Iaken in good failh. and ro, any action Iaken or omlned
11'1 ~ in good faith upon Ihe books 01 accoonc or Ofher recOlds oIlhe
~rernenl1iusI. upon the opinion 01 counsel. 01' upon reports made 10 the
R<<trwntnl 'iu. by any of its offleefl, employees Of aOeru or by the Il"M!st.
l'l'\et't AdYiter Of any sub-investment advi!Mtr. accountants. appraisers 01 olher
erDet'tI or consultants selecled wilh reasonable care by the fruslees, O'flCers
01 npk7flttS: oIlhe Reliremenlli'usl. The TruSlees shall "SO not be liable IOf
artt IoIt IuSlaiMCl by Ihe frus! Property by reason 01 any investment made
ir'I good fMh anct In accordance with the standard d care SI!I bth in SectIon S 1.
SectIon 5.3 Bond: No Truslse shan be obfigaled 10 give any-bond or other
.security for Ihe per10rmance of any d his or her duties hereunder
ARTICL'E VI. ANNUAL REPORT TO SHAREHOLDERS
Th'l Tru....r.t!"l.",..1I ;\nn,...,I{ .,l.I~" TO 'h~ Putllc (m~rs .1M PuNIc fm~,
rrll!ll~ .'.....rlllm11op'lI'I 71ho Ifl"'I"_.ar.ll"", r11f1f: ~Ollr~ iurf. 'nclodtng ~,"n.
t;lal ,Ialcme"l!> whICh ""~. hrl cf!l1dlfll1 tly lI1dP.OOnde'" ouhllC OICcoonta""~ 0;"0
)en by tho r'u"res
ARTICLE VII. DURATION DR AMENDMENT OF RETIREMENT TRUST
Sectton 7.' Wllhd,...l: A PublIC Emol~r Of Publc Ernpl~r Trustee "'IV.
al any lIme. """.lld'", ',om 11"115 Ret"ernef1l 1;ust by O~I~fihQ !O I~e Boa'd 01
f,ust"s a Wltnen IUllemonl 01 WIthdrawal In luch Sfalement Ihe Pvbllc
Emplcryoe' or PublIC El'l'lplover frustee ""all acknQIMedoe Ihal The -'u" P'QO
eny allocable 10 the PublIC EmDloyer "derl...ed Irom compensation deferrKl
by employees o' such PublIC Employe, pursuanl to lIS Deferred Compenw
lion Plan Of Irom conl"bullons 10 the accounts rJ Emp/O"fees out'SUanl 10 .
QuaJ,fied Plan. and stIaI designate !he 5nvoal mstlllJbon to wtlch such proper'Ty
shall be !tanslerred D(lhe rrustees 0111\1 Aetllernent Trust or by Ihe Trustee
ol Ihe EmplO"lel f,uSl
Section 7.2 Du,.Uon: The Retirement T,us:! Shall conllnue until lermrnated
by the '.'Ole 01 a marontY d Ihe PtlbliC EmpfOf8l'S. QCh casfing one 'o'O(&. Uoon
lerminalion. alf 01 the flUs! Property ShaN be paid Ollllo the Public empl~rs.
Pub/IC Emploofer 1iusteeS Of the Trustees d the Emplo,oer Trusts. as aopl'opnale.
S4ctIon 1.3 Amendmctnt: The Retirement i'usI may be atnended t7t the 'Ide
of a maiority 01 lhe Public Emoloyers. eaeh eastino one vole.
S.cllon 1.4 procedu...: A resolution '0 tennina'e 0' amend The Retirement
TruSl or 10,ern<:J\Ie a TfuStee Shall be submilled 10 a ~e oIlhe Pubic Employers
il: (i) a maJorlly of Ihe Truslees so direcl, or: (ii) a pelrlion 'eQuesling a '.Qe.
SIgned by no! less than 25% Of Ihe Public Employers. IS submlned !o the
Trustees
ARTICLE VIII. MISCELLANEOUS
SectIon I. r Govemlng Law: Except as Olherwise 'eQuired by stale Of local
law, lnis Declaration d Trust and Ihe Aetiremenl TfUIl hereby created "'all be
construed and regulated by lhe laws dIM Disltd of CoIumbra.
Section 1.2 Counte,:p.rta: This Declaration mav be exec:uled by Ihe PublIC
Emplaye~ and Trustees in Iwo 01 more c:ounterplrtS. NCtt 01 wtllch shall be
deemed an origInal bJt all 01 which logett'lef Shall constrtule one and Ihe same
instrument
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