Agmt95 First Interstate Bank - Laserfiche WebLink

Browse Search

4. FICAL may offer additional investments from time to time. The availability of such investments will be contingent upon the CLIENT agreeing to any conditions imposed by FlCAL on such investments, 5. FlCAL agrees not to accept or honor any instructions that may be submitted by participants, except for directives regarding FlCAL Interstate 457 Investment vehicles, 6, CLIENT agrees that the minimum investment per pay period per participant for each investment option in the Interstate 457 service is ten dollars and 00/100ths ($10.00). IV. RECORD KEEPING 1. FICAL and CLIENT hereby recognize that certain matters in connection with recordkeeping services, including procedures for interface with FICAL in connection with its duties hereunder, shall be set forth in a recordkeeping manual (the "Recordkeeping Manual"), FICAL will prepare the Recordkeeping Manual and CLIENT will have the responsibility to review the Recordkeeping Manual when it is received. To the extent that the terms of the Recordkeeping Manual place burdens upon CLIENT or the PLAN ADMINISTRATOR to operate within a certain time frame, each of them agrees to be bound by such terms. The Recordkeeping Manual may be amended from time to time by FICAL upon written notice to CLIENT. 2. CLIENT shall be responsible for: (a) providing all necessary information to FICAL on a timely basis, in a fonnat acceptable to FICAL including participant data, payroll and contribution data; (b) reviewing the accuracy and completeness of all information supplied to FICAL; (c) collecting and transmitting participant requests requiring CLIENT action or approval; (d) transferring contributions to FICAL via wire or check promptly upon notice from FICAL of acceptance of payroll data; (e) authorizing account adjustments as needed; and, (0 notifying FICAL promptly of known errors. 3. In the event FICAL is required to reprocess any report, document or record due to incorrect or incomplete information furnished to it by CLIENT or the PLAN ADMINISTRATOR or due to incorrect or ìncomplete Third Party Information, the CLIENT shall pay FICAL a reprocessing charge equal to the costs incurred by FICAL. In the event that FICAL is required to reprocess any report, document or record for the PLAN for more than the most recent processing due to incorrect or incomplete CLIENT information or Third Party Information, CLIENT shall pay FICAL a reprocessing charge equal to the original processing charge for each cycle that is reprocessed except that the most recent processing charge shall be fifty percent (50%) of the original processing charge. FICAL shall have no obligation to reprocess after one year from the date of delivery of the processed data containing the error. 4. FICAL shall correct processing errors caused by FICAL's error at no charge to the CLIENT provided that the PLAN ADMINISTRATOR notifies FICAL in writing of such error and furnishes all CLIENT infonnation necessary to correct such error. 4 .-