Item Text

47. AMENDMENT TO RECORDKEEPING, ADMINISTRATIVE, AND INVESTMENT SERVICES AGREEMENT WITH NATIONWIDE RETIREMENT SOLUTIONS, INC. Approve and authorize the Chairman to execute the First Amendment to Recordkeeping, Administrative and Investment Services Agreement for Deferred Compensation Program between Nationwide Retirement Solutions, Inc. and Maricopa County (No. C-18-09-006-3-00). The Amendment clarifies that (1) on an annual basis, Nationwide shall provide to the Deferred Compensation Committee a description of how it is meeting the requirements of the Most Favored Client Pricing and confirming that the County’s fee structure is equal or less than other plans providing similar services, and (2) any investment product service payments generated by the Deferred Compensation Plan in excess of 0.25% shall belong to the Plan to be used for the administrative costs that the County incurs in overseeing and maintaining the Plan or as otherwise permitted by the Plan for the exclusive benefit of the Plan’s participants and their beneficiaries. The Amendment also includes updated contact information for the County and Nationwide. (C-18-09-006-3-01)