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v. RESP(~NSIBILITIES OF NACoSERVICES NACoServices agrees to: . ', monitor the administrative, operational, and financial performance ol the Program Administrator and selected investment and insurance provldem and take such actions as are reasonably necessary to assure the Member County and its employees the best possiblc combination of costs, benefits, and services; and ,, monitor annually Ihe accounting and audit systems of Ihe Program Adminislralor and the selected investment media as is necessary to ensure the fiscal integrity of the Program. VI. RESPONSIBILITIES OF THE MEMBER COUNTY The Member County agrees to the following terms and conditions o! the Program as provided;below: A. General Terms and Conditions · provide NACoServices and PEBSCO its full cooperation and support in adminislering the necessary salary deferral system [or contributions to the Plan; and notify PEBSCO in writing, within seven (7) days of a participant's separalion from service with a Member County; o disseminate from time to time such promotional materials as provided to It [or employee distribution; · arrange for representatives of PEBSCO to conduct enrollment meetings with the Member County's employees; · name a county official or committee to act as an administrator on behalf of lhe Member County on all material matters relating to activities of the Plan; · accept the terms and conditions of the investment media and, if applicable, insurance contracts issued to the Member County pursuant to the Plan adopted by the Member County. · use only the NACo Plan Document, promolional materials, and other forms provided to it as a participant under the Program in connection with its Plan or otherwise approved by NACoServices or PEBSCO. · select among the payout options available under the Program. B. Addition of Second Fixed Product Provider At such time as NACoServices selects a second fixed product provider under the Program (anticipated January 1, 1991), Member County hereby authorizes PEBSCO to: · , withdraw the annual administrative fee on the anniversary date or the prorated administrative fee upon lull withdrawal. The annual fee of $12 or $15 (depending on the padicipant statement frequency) is allocated and withdrawn from the participanls' values based on the relative values of each investment option to tho total value held for the participant at the time the withdrawal is made. · allocate 50% of Ihe Member County's fixed option deferrals to Nationwide Life Insurance Company, the current lixed product provider, and 50% of the Member County's fixed option deferrals to the second fixed product provider on a prospective basis; provided, however, that if a second fixed product provider is not offered under the Program at some point, all subsequent deferrals and earnings Ihal would otherwise have been allocated to such second fixed product provider shall instead be allocated to Nationwide Life Insurance Company. · collect, in the event the Member COunty withdraws all or pad of its account value under a product offered under the program other than one issued by Nationwide Life Insurance Company, the lesser of 4% of the account value or the applicable pementage set forth in the table below through December 31, 1997, after which the amount payable to PEBSCO shall be the lesser of 2% of the account value or the applicable pementage set forth in the table below through December 31,2000. No amount shall be due fo PEBSCO under this paragraph beginning January 1, 2001. Participant Years Of Participation* Beginning July 1, 1985 Percentage 1-12 4% 13 3% 14 2% 15 1% 16 & Thereafter 0% · Participant Years of Participation credited toward lhe schedule of percentages set forth above may only be those years earned beginning with the date a Plan participant's first deferral was credited to the Member County's account, on or after July 1, 1985, under a product lo which the above charges apply. C. NACoVA The Member County hereby agrees that it will exchange the current Nationwide Life Insurance company DCVA variable annuity contract for the Nationwide Life Insurance Company NACoVA variable annuity contract upon the offedng of the lalter under the Program. The Member County agrees to and understands that NACoServices will establish, maintain and change, as appropriate, the performance criteria for the mutual funds which will be offered under, added to, or removed from, the NACoVA and the Program. DC-286-B (08/89)