HomeMy WebLinkAboutbocc.con.110.2003 CHECK LIST
FOR CONTRACTS SUBMITTED TO CLERK AND RECORDER FOR
SCANNING/ARCHIVING
riginating DepartmenffDivision: ~
)ntact Person: /~-~-~ ~
BOCC AGENDA ITEM (BOCC signature required)
f STAFF AUTHORIZED SIGNATURE (as per Procurement Code)
reck Contract Type: Dollar Amount: /~-, Oaa~
~,/Services
Maintenance STAFF AUTHORIZED
License/Use SIGNATURE
Construction ......
Purchase
Employment
Intergovernmental Agreement (Requires BOCC Action)
Non Profit
Quasi-Public
Grant Agreements (Requires BOCC Action)
Other
gnamres Required:
ader 25K- Department Head
:-50K - Department Head (if appropriate), Section Leader
~er 50 K- Department Head (if appropriate), Section Leader, County Manager
)ntractor/Busin~ss (Complete Name): '~ ~ 5-~ ~ ~
)ntract Start Date: t/do/o~ Contract End Date: ~ ~
atomatic Renewal (Y/N):
1 Contracts should be proofed for the following:
· No Pages Missing
· If a Page is Left Intentionally Blank - Note on Page
· Page numbered consecutively
· All Signatures Affixed
· All Dates Filled In
· All Other Blanks Filled In
· All Exhibits Attached
· All Legal Descriptions Attached (if appropriate)
· Notice of Award/Proceed Attaqhed (if appropriate)
',nt to Clerk and Recorder for Scanning/Archiving
~te:
~thorized Staff Person
g-nature of authorized staff person indicate that document has been proofed and ready
r scann/ng.
)te: Clerk's Office will keep original documents in compliance with Colorado
ate Archives retainage schedule.
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· The'Charles Schwab Tn Company
Fee Schedule
Effe~ive Januaw 1, 2003 / 1 ~77-319-2782
ST~F AUTHORIZED
1. ~nnual Ba~ ~es
$3,000 annual fee per plan
CON--CT
· $1,500 if offering company stock
· $1,500 one-time set-up fee for plans less than $3 million
2. Annual Market Value Fees-Accepted and Conditionally Accepted Assets*
For participant-directed retirement plans investing in core account investment choices available in Charles Schwab & Co., Inc:s Mutual Fund MarketPlace.~
Accepted Assets:
Market Value of Plan Assets Fee
Less than $10 million 0,07%
Between $10 million and $100 million 0.05%
Over $100 million 0.03%
Conditionally Accepted Assets (see the CSTC Asset Acceptance Guidelines):
Market Value of Conditionally Accepted Assets 0.40%
IM-managed accounts consistin9 of assets
other than Schwab's Mutual Fund MarketPlace 0.12%
'The term "Accepted Assets" includes, but is not limited to, assets held in Charles Schwab & Co~ Inc. Mutual Fund MarketPlace, Schwab Personal Choice
Retirement Account® (PCRA) accounts, participant loans, and publicly traded company stock that have been accepted in writing as Investment Options
within the retirement plan at CSTC.
3. Schwab Personal Choice Retirement Ac_~_unt (PCRA) Fee
$50 annually per par[icipant PCRA account
4. Disbursement Fees
Outgoing Bank Wire Transfers $20 per wire (excludes individual GIC contracts)
Participant Distributions (includes IRS Forms 1099-R and 1099-DIV):
Cash or Security Transfers to Schwab IRA Rollover Accounts $0 per transfer
Recurring Payments $1 per ACH transaction / $3 per check
Cash Distributions and Disbursements away from Schwab $10 per check
Securities Transfers away from Schwab $50 per asset transfer
Stop Payments $20 per stop request
Dividend Pass-Through Payments $10 per check
PITKIN COUNTY PUBLIC
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C~2003 Charles Schwab & Co., Inc. All rights reserved. Member: SIPC/New York Stock Exchange. CRS 21810 (0103-7412) APP227"22-01(02/03)
Page 2of 3
5. Additional Fees
Company Stock Brokerage Commissions $0.04 per share, for trades above 500 shares or the following minimums:
$10 minimum for trades under $500 principal
$20 minimum for trades less than 500 shares
Set-up Fee for Conditionally Accepted Assets $50 per asset (individual GIC contracts excluded)
Transaction Fee for Conditionally Accepted Assets $30 per transaction (includes wire fees and GIC contracts)
Annual Holding Fee-Individual GIC Contracts $I,500 per GIC (value excluded from market value fee)
Additional Sub-accounts $500 annually per sub-account
Fees for Extraordinary Services $100 per hour ($100 minimum)
Proxy Pass-Through Voting Tabulation TBD determined by third-party provider
Termination Fee $300 plus hourly charges apply for Extraordinary Services
Replacement Form 1099-R $5 each
Revised Form 1099-R $50 each
Settlement Charges per Transaction $20 Mutual Fund MarketPlace· funds
(applies to accounts managed by an Advisor and
non-electronic accounts) $'20 depository-eligible assets
$30 all other assets
Copies of Statements over Three (3) Sets $20 each set
6. Fee Schedule Provisions
I. To qualify for this fee schedule, the plan must use · Monthly pension format statement and an within the retirement plan for trading at CSTC.
SchwabLink' for Plan Administrators, the electronic annua~ statement with a maximum of two For further information regarding acceptance of
data communications system for transaction pro- duplicate sets Conditionally Accepted Assets, see the CSTC
cessing to/from The Charles Schwab Trust · ~re receipts for employer and employee Asset Acceptance Guidelines available from
Company (CSTC).
contributions and master note loan repayments The Charles Schwab Trust Company.
2, The acceptance by the Account Holder of the
fee schedule will not be deemed in effect until · Interest, dividend and capital gains posting; · Tax reporting for unrelated business income
processing of capital changes (splits, reorgani- taxes, participant life insurance policies or
an approved officer of CSTC has signed the fee zations, etc.) distributions to non-U.S, residents
schedule, confirming that the assets to be held in
the plan have been reviewed and deemed accept- · Proxy distribution to the Authorized Party 1 I. Schwab reserves the right to decline acceptance
able to be held at CSTC. · A cash sweep feature if requested by Authorized of any plan assets not disclosed during the original
3. Any waiver of plan-level mutual fund sales Pady account/asset acceptance process. In addition,
charges/loads is based on the qualifications set ?. PCRA account fees will be charged annually in CSTC reserves the right in its sole discretion to
forth in the fund's prospectus and on the comple- arrears for all open accounts (other than accounts refuse to purchase or hold any particular asset
deemed unacceptable.
fion by the plan sponsor of any documentation with a zero balance) as of 12/31 of the prior year. 12. In addition to the fees set forth in the fee schedule,
required by the fund's issuer. CSTC fees do not 8. Schwab's standard brokerage commission sched-
include any fees charged by an Investment ule applies to PCRA transactions; applicable Schwab receives remuneration from registered
Manager (IM). For plans handled by SchwabLink commissions and execution fees are charged investment companies offered in Schwab's Mutual
Fund MarketPlace (and/or their affiliates) in the
for Plan Administrators, cash balances in Schwab directly to the PCRA account.
form of 12b- 1 and other fees, and/or fees from
Money Market Funds will be charged the same 9. The one-time set-up fee of $1,500 is charged registered investment companies (and/or their
market value fee as Charles Schwab & Co, Inc. based on the market value of the plan assets affiliates) for services rendered in connection with
Mutual Fund MarketPlace funds, transferred to CSTC from the prior trustee or Schwab's Mutual Fund service.' Such remuneration
4. Depository-eligible assets are defined for this fee custodian and will be included on the first invoice, is calculated based on the aggregate net asset
schedule as those accepted by the Depository The full amount will be billed to one account only. value of certain shares held in Schwab's customers'
Trust Company of New York and the Bank of New 10. Additional fees may be charged for: accounts, and the calculation of the amount of
York. Mutual funds and those stable asset (GIC) · Manual processing not utilizing SchwabLink for such remuneration is subject to change from time
funds available through Schwab are considered Plan Administrators to time. Schwab also receives certain investment
depository-eligible for the sole purpose of this fee
schedule. 'Transaction' is defined as the purchase · Check receipts for contributions or individual advisory fees and other fees from SchwabFunds®
or sale of any plan asset employee loan repayments with respect to the trust assets. The exact amount
of the fees will vary depending on the mix of assets
5. Plan-level fees are billed quarterly in arrears · More than one account per plan for asset selected. Employer acknowledges and agrees
unless otherwise indicated, CSTC reserves the custody that remuneration described in this paragraph is
right to deduct directly from the account any fees · Extraordinary services for which other compen- payable to Schwab,
outstanding for more than 30 days from the billing sation is not expressly stated 13. In addition to the fees set forth in this schedule,
date. Past due fees will be subject to a late fee of · Administration of Conditionally Accepted Assets, CSTC may receive, as compensation for services
~)~/e of the pest due amount including transaction and outgoing wire charges provided to the Trust, any credit, interest or other
6. Annual Ran-level market value fees cover: for Conditionally Accepted Assets. The term earnings (collectively, 'Float") on aggregate cash
· Electronically transmitted transactions for mutual 'Conditionally Accepted Assets' includes, but balances that CSTC has on deposit with any third-
funds in the Schwab Mutual Fund MarketPlace, is not limited to, privately held company stock, party bank or other financial institution either
participant master note and company stock COmpany stock with restricted shares, institu- (i) with respect to funds awaiting investment or
· Asset transfer, setup and custody In one account tional mutual fund shares, non-Schwab collective reinvestment, or (ii) with respect to funds pending
per plan trust funds, limited partnemhips, etc. that have distribution from the Trust. The circumstances
- ~ ~ :.4,: ,;, ~ '. ~ , .~. been accepted in writing as investment options under which Float shall be payable to CSTC and
(Continued on page 3.)
~ang~ CRS~*1810 (0103-7412) APP'22722-01(0"2/03)
Page 3 of
.6. Fee Schedule Provisions Continued
the methods used to calculate the Float shall be 1 §. In addition to the fees set forth in this schedule, the reasonableness of the amounts payable to
determined in accordance with CSTC's Disclosure CSTC may also receive, as compensation for CSTC pursuant to this fee schedule.
of Income Earned on Cash Float, as communicated se~ces provided to the Trust, the amount of 17. Fees for Schwab's services shall be initially
to the Plan Sponsor from time fo time. distributions from the Trust in the form of checks determined in accordance with this fee schedule.
14. In addition to the fees set forth in this schedule, of $50 or less fhat remain uncashed for more than Schwab guarantees such fees for one year
CSTC may also receive, as compensation for 180 days, provided that CSTC shall be obligated commencing with the effective date of this fee
services provided to the Trust, the amount of any to repay such amounfs to the Trust in the event schedule. Following the one-year period describe~
gains that may result from the correction of trade that the recipient of a check subsequently presents herein, Schwab reserves the right to modify the
errors. The circumstances under which such gains the check for peyment~ or is otherwise located and aforementioned fees for future services at any
shall be payable to CSTC and the methods used claims the amount of such distribution, time by notifying the Plan Administrator and
to calculate the amount of such gains shall be 16. Plan Sponsor acknowledges and agrees that the Employer in writing sixly (60) days prior to the
determined in accordance with CSTC's Trade amounts described in paragraphs 12, 13, 14 and effective date of the modification.
Error Policy, as communicated to the Plan Sponsor 15 are payable fo CSTC, and that such amounts
from time to time. have been taken into consideration in determining
7. Authorization and Acceptance
Charge CSTC quarterly fees (excluding PCRA annual account fees) to: (Check one.)
[] Trust Account ~*Plan Sponsor
Charge PCRA annual account fees to: (If applicable, check one.)
[] Padicipant PCRA Accounts [] Plan Sponsor
Mail invoices to: (Check one.)
/~Plan Sponsor [] Recordkeeper
Debit Investment Manager fees from account: (If applicable, check one.)
[] I authorize ~[~1 do not authorize
CSTC to deduct Investment Manager fees and expenses directly from the Trust Account.
Debit Recordkeeper fees from account: (If applicable, check one.)
[] I authorize ~'1 do not authorize
CSTC to deduct Recordkeeper fees and expenses directly from the Trust Account.
I =JT/ , o, te
Agreed and accepted (Plan Sponsor)
Signature
Required d4: Oate
".me and Title (~-int) ~=~1~ ~--~ ~. ~1~_.~ ~.~/,ll~_~
The Charles Schwab Trust Company
Required Authorized Si§ nature Corn~ny Date
E
T,t (.,.t) TRUST OFFICER
FOR C~RLE$ ~4WAB USE
B~anch Office and
Account Number
is a wholly owned subsidiary of The Charles S~:hwab Corporation and an affiliate of Charles Schwab & Co., Inc.
The Charles Schwab Trust Company, 425 Market Street, ?th Floor, San Francisco, CA 94
~)~2003 Charles Schwab & Co.. ~nc All tic, hfs reserved Member' .~IP(~/N¢w Y(3rk St~ck Exchan(~e. CRS ~ 1B10 (0103-7412) APP~2~?2~-OI (0~/03)
Information Services Agreemem
IN WITNESS THEREOF, the parties have executed this Agreement as of the date set forth below.
STANTON GROU/~..,~
/~ ~ o_~ By:
(Date)
(P~t Nme)
(Title)
BOARD OF COUNTY COMMISSIONERS
OF PITKIN COUNTY, COLORADO
/--'~]'" ~'~ By: ~*~'~'t ~
(Date) ~ _
(P~t N~e)
(Title)
PITKIN COUNTY PUBLIC EMPLOYEES' RETIREMENT PLAN
/"- ~'~'~ ~"~ By: /.~--~t. ~
(Date) .
(Print Name)
(Title)
CHARLE ~ TRUST
(Date)
ERIC LYTLE
(V~t Nme) TROT OFFICER
(Title)