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Prepared for Springfield R-XII School District
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The 403(b) and 457(b) recordkeeping and administration services
provider selected by the District shall assume full services in accordance
with a contract executed by the parties. Service provider shall coordinate
and cooperate with the District’s existing provider(s) to ensure a smooth
and orderly transition with uninterrupted services.
The CSD-RT and VALIC confirms.
2.
Transition and Continuity of Service upon Expiration of Contract.
Continuity of services is necessary to the District. The 403(b) and
457(b) recordkeeping and administration provider selected by the
District agrees to this philosophy and upon expiration of contract,
agrees to:
• Exercise its best efforts and cooperation for an orderly and efficient
transition of 403(b) and 457(b) recordkeeping and administration services
to another service provider or to the District.
• Negotiate a plan in good faith with the successor to determine the
nature and extent of the phase-in and phase-out services required. The
plan shall specify a date for services described in the plan and shall be
subject to approval by the District. The existing 403(b) and 457(b)
recordkeeping and administration services provider shall provide
sufficient experienced personnel during the phase-in and phase-out
periods to ensure that the services called for in the contract are
maintained at the required level of need and proficiency.
• All District property (including but not limited to participant and
District system records; equipment; facilities; and materials) shall be
returned to the District upon termination of the contract.
The CSD-RT and VALIC confirms. The CSD-RT requires a 30 day notice for plan
termination.