Res89 11093 - Laserfiche WebLink

Browse Search

10. FEES AND EXPENSES: GREAT WESTERN, in consideration of its services urrler the Plan, shall receive an annual administration fee of twelve dollars ($12.00) per participant in the Plan. GRFAT WESTERN will deduct the administration fee from each Participant sub-account in four equal installments of three dollars ($3.00) at the erxl of each calen:1ar quarter. GREAT WESTERN requires each Participant to maintain a cash balance in the GWSIA sufficient to caver administration fees. other than at the termination of the Agreement, if a Participant transfers their account, or any portion thereof, from GREAT WESTERN to another provider, other than GRFA'r WESTERN or a subsidiary of Great Westerrl Financial Corporation, a transfer fee in the amount of twenty-five dollars ($25.00) will be assessed. Such fee to be deducted from the Participant's account prior to transfer of furls. Should a participant invest in a "no-load" mutual fund, a fee of one dollar ($1. 00) per transaction wil1 be assessed. Should a participant transfer furrls to/from a "no load" mutual fund, a fee of ten dollars ($10.00) will be assessed. 11. 'I'RANSFERS : A. From the GWSIA To Other Great Westem Invesbnent Options GREAT WESTERN will allow the transfer of furrls in participant sub-accounts from the GWSIA to other investment options provided in the plan Agreement. Such transfer will be allowed only upon exp~ written agreement between AGENCY, GREAT WESTERN am the applicable investment option and will be allowed throughout the tenn of this Agreement. Funds will be transferred from the GWSIA to the other invesbnent option, within three (3) business days of receipt of written authorization from the AGENCY by GREAT WESTERN at its office in Northridge, California. b. From Other Great Westerrl Invesbnent Options to GWSIA GREAT WESTERN will allow the transfer of furrls in participant sub-accounts from other GREAT WESTERN invesbnent options provided in the plan Agreerrent, (i.e. mutual funds and annuities) to the GWSIA. Such transfers will be allowed only upon express written agreement between AGENCY, GREAT WESTERN am the applicable investment option am will be allowed throughout the tenn of this Agreement. 'Ihe transfer will be initiated within two (2) business days of receipt of written authorization from the AGENCY by GREAT WESTERN at its office in Northridge, Califomia. If a transfer involves the liquidation of mutual [-uncI shares, the prcx::eeds from the sale of said mutual furrl shares, will be credited to the GWSIA upon receipt of the furrls by GREAT WESTERN from the investment company. - 6 - JI09~