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Recordkeeping
Recordkeeping contract clause examples
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Ongoing Recordkeeping and Administrative Services. We will receive and process periodic payroll feeds to Participant accounts based on information provided by your authorized representative. Additional fees may apply if payroll feeds are submitted more than twice per month and from more than one source (i.e. more than one payroll file). We will receive and process employer contributions, if any. We will process new Participant enrollments on an ongoing basis. We will maintain Plan-level and individual Participant-level account records, including records of all receipts and disbursements, earnings and expenses, and separate accountings for different contribution types. All records shall be maintained on a daily valuation recordkeeping system. We will provide you and Participants with internet access to account information on a secure website. We will execute Participant-initiated Reference Investment transactions including fund balance transfers and future Reference Investment allocation changes submitted in good order. We will process domestic relations orders as instructed by your authorized representative. We will assist with processing and investigating the facts concerning all appeals of a claim denial or dispute for a final decision by your authorized representative. We will provide a secure website with access to Participant-level and employer-level Plan account information. We will make available Participant statements and Plan Sponsor reports each calendar quarter and annually each year.

Asset Rebalancing Based on Recordkeeping Accounts. Asset Rebalancing is based on the variance between the actual allocation percentages of the Asset Groups and the Recordkeeping Accounts. It does not mean that the dollar amount of the Investments will equal the dollar amount of the Recordkeeping Accounts. It also does not mean that the dollar amount of an Investment transaction will equal the dollar amount of any transaction within the Recordkeeping Accounts. An exact dollar match is not possible due to reasons such as differences in the timing of transactions, the amount or types of transactions, costs (if any) associated with the Investments.

Recordkeeping and Internal Controls

Company’s and the Responsible Parties’ recordkeeping obligations under this [Section 5.2] shall survive the termination of this Agreement until the date that is ​ following the last day on which a payment is due under this Agreement (the “Recordkeeping Period”).

Recordkeeping Period” has the meaning set forth in [Section 5.2(a)].

To delegate any recordkeeping or other administerial duties hereunder to any other person or third party;

Recordkeeping Account” means an individual account or the aggregate of all individual accounts tracking your obligation to Participants under the Plan.

Account - the separate recordkeeping account (unfunded and unsecured) maintained for each Participant in connection with the Participant’s participation in the Plan.

Reference Investment” means a hypothetical investment made available by you solely for the purpose of determining the value of a Participant’s Recordkeeping Account.

evaluating and recommending to the Company organizations to provide services to the Plan, such as trustee, custodian, asset performance evaluation and recordkeeping services;

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