REQUIRED 408(b)(2) FEE DISCLOSURE
This Fee Disclosure (or “Compensation Disclosure”) incorporates by reference Terms and Service Order between Client, Plan, and Uniglobal, including any schedule, addendum, appendix, and/or amendment.
Empower Retirement TPA Programs
Uniglobal may receive payments from Empower Retirement Services (“Empower”) for services provided by Uniglobal to Empower in connection with the Plan. Uniglobal may receive “service fee income” payments from Empower. Uniglobal does not have sufficient information to disclose, in advance, the exact amount of service fee income it will receive from Empower. However, the amounts received by Uniglobal will be disclosed on the Plan’s Form 5500 for the Plan Year in which such payments are made, if any.
Service Fee Income
Uniglobal may be paid service fee income by Empower for services provided both to the Plan, on behalf of Empower, as well as for services to Empower, which services are completed in connection with the services provided by both Uniglobal and Empower to the Plan.
These services include, but are not limited to:
- Reconciliation of assets on takeover plans;
- Reconciliation of loans on takeover plans;
- Coordinating data for set-up of new and takeover plans;
- Setting up administrative systems for new and takeover plans;
- Managing existing Empower plans for retention; and
- Using Empower electronic interfaces.
Service fee income shall be paid as follows:
| TPA Program | Key TPA Program* | |
| TPA Allowance | Transferred Assets > $500k = .05% | Transferred Assets < $500k = $250 |
| Year 1 | Maximum Payment = $5,000 | Transferred Assets > $500k = .05% |
| Maximum Payment = $12,000 | ||
| TPA Allowance | .05% on Quarter End Plan Assets | .10% on Quarter End Plan Assets |
| Year 2 forward | Paid Quarterly | Paid Quarterly |
| * The Key TPA allowance is paid retroactive to the first sale once three new sales have been made during the calendar | ||
| year with Empower. If three new sales are not achieved, the Key TPA Allowance does not apply. | ||
The Program applicable to each Plan, if any, will be determined by Empower at its discretion. Uniglobal uses a modified fee schedule in connection with clients whose plans are funded by Empower contracts. Specifically, the fee schedule used for clients whose plans are funded with Empower contracts reflects fees that are lower in some respects than the fees charged to some other clients of Uniglobal whose plans are not funded by Empower contracts.
Direct Compensation
Please refer to the Service Order for fees that are considered Direct Compensation such as Administration and Compliance Service Fees, Loan Processing & Origination Fees, Participant Distribution Fees, and QDRO Review Fees. All Direct Compensation paid by the Plan and/or Client is disclosed in Terms, Service Order, and/or any addendum, attachment, schedule, exhibit, appendix, or amendment, as applicable, including this Compensation Disclosure, and together with fee related materials from other parties including Other Service Provider Compensation Disclosures constitute Uniglobal’s compliance with this disclosure law.
TPA Allowance Program (11/1/2020)
APPENDIX B - Schedule of Payments
For any Plans which are classified by GWL&A in its sole discretion as “Start-Up Plans” and “Transfer Plans” in GWL&A’s “core market segment” and a TPA provides administrative services in support of GWL&A’s Products proposed and sold to such Plans as reflected in GWL&A’s records after November 1, 2020, GWL&A will make the payments described in this schedule, unless the TPA has elected to “Opt Out” of the TPA Allowance Program for a specific Plan.
TPA Payment Schedule
Effective for Plans proposed and sold starting November 1, 2020
Initial One-Time Payment (Transfer Plans Only)
With respect to Transfer Plans, GWL&A will make an initial one-time payment to TPA of up to 0.25% of “eligible Plan assets” (defined below) transferred and received by GWL&A prior to the completion of the Plan’s implementation on GWL&A’s recordkeeping platform. Start-Up Plans are not eligible for an initial one-time payment.
As a condition of TPA’s receipt of the initial one-time payment, in the event a Plan terminates or deconverts from GWL&A’s recordkeeping platform within 12 months from the effective date of the Recordkeeping Services Agreement by and between the Plan Sponsor and GWL&A, TPA agrees to immediately return the full amount of the initial one-time payment promptly to GWL&A or, if GWL&A is making ongoing retention payments to TPA for other Plans as described below, TPA agrees that GWL&A will deduct the initial one-time payment from the ongoing retention payments it makes to the TPA until the initial one-time payment is recovered by GWL&A. .
Ongoing Retention Payments (Transfer Plans and Start-Up Plans)
GWL&A will make an ongoing monthly retention payment to TPA of an annual amount up to 0.05% based on “eligible Plan assets” (defined below) of the Plans serviced by TPA. The ongoing payments will be made starting with the month transferred assets are received (for a Transfer Plan) or the first payroll contribution is received (for a Start-Up Plan).
With respect to the calculation of any payment made by GWL&A under this Addendum B, “eligible plan assets” are determined based on Plan investment option assets held in trust or custody by GWL&A and its affiliates on its recordkeeping platform at the time the calculation is performed and do not include outstanding participant loan obligations, Self-Directed Brokerage Accounts, Insurance, or Employer Stock.