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Home My WebLink About2001 01 30 Regular Item A 04/26/2001 09:16 FAX 4072374554 SUNTRUST RETIREMENT SERV 141001 s SunTrust Bank Retirement Services Post Office Box 3808, Orlando, Florida 32802-3808. Fax: (407) 237-4554 Facsimile Cover Sheet Regarding: To: Gene DeMarie Company: City of Winter Springs Phone: 407 -327-5961 Fax: 407 -327 -6694 From: Michele Celentano Company: SunTrust Bank of Florida Phone: (407) 237-4565 Fax: (407) 2374554 Date: 04/21/01 Pages including this cover page: 7 The information in this facsimile transmission is intended only for the use of the individual or entity named and may contain information that is privileged or confidential. If the reader of this message Is not the Intenc;led recipient. or the employee or agent responsible to deliver it to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. Receipt by anyone other than the intended recipient is not a waiver of any attorney-client or work-product privilege. If you have received this communication In error, please notify us by telephone at (407) 237-4254 immediately, We would appreciate your returning the original transmission to us at the above address by way of United States mail. Please call 1-800-432-4760, extension 4254, to report transmission errors, Comments: , 04/26/2001 09:17 FAX 4072374554 SUNTRUST RETIREMENT SERV III 002 SunTrust Bank Retirement ServIces Post Office Box 3808 OrlandO, FL 321302 Tel 407.237.4254 , Tel 800.432.4760 Ext. 4254 Fax 407.237.4554 SUNTRUST April 25,2001 Mr. Gene De Marie City of Winter Springs 1126 East State Road #434 Winter Springs, Florida 32708 Re: Fee schedule for the City of Winter Springs Defined Benefit Plan Dear Gene: Tim Nash has asked me to send you a copy of the fee schedule associated with the Retirement Plan, Attached you will find the referenced schedule. The fee is based on the market value of the Retirement plan as of the end of each quarter. The tiered basis point program is applied to that market val ue and charged to the trust. Example: Market value at 12/31/2000 was $S ,231.024.92 The First 1 Million: $1,000,000. X .010 == $10,000.00/4 == $2,500.00 The next $4,231.024.92: $4,231,024,92 X ,0075 = $31,732.69/4 = $7,933.17 TOTAL Fee for Quarter: $2,500,00 + $7,933.17 = 510,433.17 I have attached a copy of the 12/31/2000 fee billings to illustrate how the tee is calculated, These are the charges for. the Investment Management Services pr.ovided by Tl115cO Capital Management and we have been instructed to deduct these fees from the Trust, The account number on this bill shows as . The second bill that you receive is tor the miscellaneous tees that are charged for the various functions such as check charges, lump sum distributions, monthly benefit payments, federal withholding filings (IRS form 945) etc. Some of these charges are included on each of the quarterly bills and some of them are billed on an annual basis only, The charges are outlined on page 2 of the fee schedule. The account number on this bill shows as as we have been asked to bill these to the City and not charge the trust. This is our way ofkeepillg the two modes of payment separate on our system. 04/26/2001 09:17 FAX 4072374554 SUNTRUST RETIREMENT SERV III 003 SunTrust Bank Retirement Services F'ost Office Box 3808 Orlando, FL 32802 Tel 407.237.4254 Tel 800.432.4760 Ext. 4254 Fax 407.231.4554 SunTrust stopped serving in the capacity of "Agent for the Plan Administrator" (recordkeeper) when the Money Purchase Plan merged its assets into the Defined Benefit Plan, The effective date of that merger was October 1,2000, Your actuary, Sandy Turner, values the panicipant account balances. I hope that this information is helpful, If you need any further information or have any questions, please do not hesitate to contact me at 407~237-4513. Sincerely, Dianne A VP & Trust Officer Cc: Tim Nash 04/26/2001 09:18 FAX 4072374554 SUNTRUST RETIREMENT SERV III 004 TW-6 01199 FEES FOR TRUSTEE WITH INVESTMENT RESPONSIBILITYI CUSTODIAN WITH INVESTMENT RESPONSIBILlTYI INVESTMENT MANAGEMENT $10.00 per $1,000 on first$1,OOO,OOO $ 7.50 per $1,000 on next $9,000,000 $ 5.00 per $1,000 on next $15,000,000 Over $25,000,000 fees are negotiable Computed on Market Value of Assets .... Minimum Annual Fee - $3,000 .... Additional Charges: > A reasonable hourly charge may be made for extraordinary services including, but not limited to. the acceptance or termination of an account, note collection procedures for the past due participant loans, and preparation of special financial reports and schedules. )> A charge of $500.00, plus $25,00 per security transaction, except purchases and sales of SunTrust Bank Funds, will be made annually for individual participant investment accounts and segregated accounts. > Cash surrender values of insurance policies will be included in the market value of assets set forth above, If no cash surrender value is available, a charge of $50.00 annually, per policy, will apply. )- $20,00 wire transfer charge for all incoming and outgoing wires. )> $50,00 annually per participant loan held; $15.00 per past due loan letter required to be provided. }o. Separate fee schedules apply to investment in real estate. Limited Partnerships: ~\~ > Pricing: ERISA requires all non~publicly traded assets to be valued by an independent third party at least annually. Accounts will be billed for the expense incurred. ). 99()"T RepOrting. When servicing in the capacity of Trustee, a Form 990-T may be required for certain asset types. Accounts will be billed for actual expenses incurred. Master Plan Use: )- Single Employer - $1,000.00. Includes adoption and filing with the IRS for determination and $750.00 for any future filing requirements, Does not include IRS user fees, ~\~ > Controlled Group/Affiliated Service Employer. $750.00 per Adoption Agreement. Does not include IRS filing. .. Minimum fee accounts invested solely in Common Trust Funds - quarterly statements. Should account require individually managed securities, the minimum annual fee will increase to $10,000.00. "FLOAT" DIS.CLOSURE STATEMENT .A11 benefit distribution$ and other payments paid by' check from your p'lan or 8eCotlnt are drawn. on an (lmL'llbu$ account in the name Of SunTfUst Bank. Any il1come eamed on the "float" associated with such payments.is retained by SunTrust as- part of our compensation for handling these payment transactions. Benefit distrIbutions and ~her payments paid by direct deposit, wire transfer or other electronic method of transfer dO not have any "float" 04/26/2001 09:19 FAX 4072374554 SUNTRUST RETIREMENT SERV Periodic Payments: SUPPLEMENT TO FEE SCHEDULE (e: /lJt)/)t'A/y 73e!/J~ fl r ~7S) >- For each check issued to a participant or beneficiary, or for the payment of miscellaneous expenses. Includes production of 1099-R Forms, ). Initially and annually thereafter; notices. election forms, and W-4Ps (with an additional $1.00 per payee charge). )0 For each payee electing withholding, including remittance to IRS (annually per payee). Non-Periodic/Lump Sum Payments: >- Cash distributions notice on withholding, calculation of taxability, iss'uance of check, and 1099-R Forms. $2.50 $50.00 $10.00 $20.00 )0 In-kind Distributions (including company stock) notice on withholding, calculation of taxability, issuance of check, and 1099-R Forms. $25.00 For Both Periodic and Non-Periodi(:: >- Quarterly reports of federal withholding, $50.00 per quarter, only applicable if any payee elects withholding dunng a quarter, )0 Quarterly reports of state withholding, $50,00 per quarter, per state, only applicable if any payee eleds withholding during a quarter. Charges for Other Services: )0 Check stop payment - if we are provided incorrect data, which results in a stop payment. there will be a $20.00 service charge for each. )- tax reporting on other than participant payments - issuance of 1Q99..R Forms - $7.50 each, )- Excessive time required to reconcile data provided by or on behalf of the employee will be billed at $50.00 per hour. All supplemental fees will be billed quarterly. l4J 005 sUP"" Oll/~& "FLOAT" 'DISCLOSURE STATEMENT All benefit distributions and- oth,r paymentS paid by 'check from your plan or accol:lnt are drawn -on an omnibus. account in tho name of SunTrwit Bank. Afl} incom'e eatoed on the "float" associatad with stich payments is retained by $unTrust as part of our compensation for handling .these pay.ment transactlons. Benefit distri,bution$ and other payments paid by direct depoSIt, wlN transfer or other electronic method of transfer do, not have a.~~'::!loar', 04/26/2001 09:19 FAX 4072374554 SUNTRUST RETIREMENT SERV III 006 FEE INVOICE SUNTnUST Corporate Employee Benefits Division P.O Box 3808 Orlando, Florida 32802 (407) 237-4254 Invoice Date: Invoice Number: Admin Officer: PASS Officer: 02105/2001 GS 111125 0440 RON MACLEMORE - CITY MANAGER CITY OF WINTER SPRINGS 1126 EAST STATE ROAD #434 WINTER SPRINGS, FL 32708 Account Name: CITY OF WINTER SPRINGS DEFINED BENE PIP Statement of Services for Quarter Ending: 12/31/2000 Detail of Charges $5,231,024,92 ~ $1,000,000, Market Value Fee: $4,231.024.92 This Fee Will Be Charged To Your Account. Account Number: Amount $10,433.17 Total Current Period Fee: 12/31/2000 Total Account Administration services Fee: Total Amount Charged To Your Account: For Informational Purposes Only, Plan YTD Fees Charged: 04/26/2001 09:20 FAX 4072374554 SUNTRUST RETIREMENT SERV rID 007 FEE INVOICE SUNTRUST Invoice Date: Invoice Number: Admin Officer: PASS Officer: Please make check payable to SunTrust Central Florida and mail to: RON MACLEMORE - CITY MANAGER ATTN: Fee Control CITY OF WINTER SPRINGS Sun Trust Central Florida 1126 EAST STATE ROAD #434 Post Office Box 3631 WINTER SPRINGS, FL 32708 Orlando. FL 32802 ~ Account Name: CITY OF WINTER SPRINGS DBPP Corporate Employee Benefits Division P.O Box 3808 Orlando. Florida 32802 (407) 231-4254 02105/2001 GS 111004 0440 Account Number: Statement of Services for Quarter Ending: 12/31/2000 Detail of Charges PERIODIC PAYMENTS (26 @2.50) $65.00 REPORT WITHHOLDING Q/E 12/31/00 IqIJ5 f:"oltrn) $50,00 WITHHOLDING NOTiCeS ($50 + 9 NOTtces @ 1.00) $59,00 ANNUAL W/H ON PERIODIC PAYMENTS (4 PAYEES @ 10.00) $40.00 Total Account Administration Services Fee: Amount Total Current Period Fee: 12/31/2000 Objections to fees must be received in writing within 30 days of Invoice date, or are waived. Please Remit this Amount: