State of Connecticut

This page was last updated on: April 15, 2011

Exhibit A - Major Responsibilities for TPA and RBSD of the OSC

ACTIVITY DESCRIPTION TPA RBSD of the OSC
     
Participant Education Develops seminars, counseling materials, conducts educational meetings. Supplements with online resources. Approves content of seminars, counseling material, and online resources.
Participant Enrollment Meetings Conducts enrollment meetings. Expedites enrollments via Web site. Approves enrollment material; helps TPA schedule meetings.
Description of Plan and Benefits Distributes materials, maintains Web site for plan. Approves all distribution and Web site content.
Marketing materials describing investment options Prepares in consultation with third-party fiduciary service and RBSD. Approves content to ensure unbiased information.
Participant recordkeeping and services Maintains records and provides services directly to participants. Provides online account access and functionality for participants. Establishes IRS compliance program for participant contributions. Provides single payroll feed to TPA. Works with TPA to enforce IRS compliance. Approves Web site content and functionality.
Plan record-keeping and services Produce reports for OSC on plan enrollment, transfers, and distributions, participant asset allocation, etc. Provides specifications for content of reports.
Investment performance - plan sponsor Consolidates data for submission to OSC. Conducts quarterly performance review with OSC. Alerts OSC of any potential problems with investment options. Reviews reports quarterly with TPA.
Investment performance and benefits report- plan participants Establishes standards and model performance report for participants. These reports may also be available online. Works with TPA to ensure that reports are unbiased, clear, and thorough.
Investment Policy Statement Develops together with RBSD. Provides consolidated investment statement. Will supply current statement for review by third-party fiduciary service and TPA.
Investment Options - Evaluation and Selection Offers only investment options which meet Investment Policy guidelines and which are acceptable to OSC. Utilizes third-party fiduciary services. Gives final approval for investment options.
Payroll and Cash Flow Processing Works with OSC to develop processes and guidelines. Provides guidelines.
Payroll and Account Reconciliation Works with OSC and providers to develop processes and guidelines. Provides guidelines.
Hardship Withdrawals Develops and applies guidelines. Provides guidelines.
Qualified Domestic Relations Orders Develops and applies guidelines. Provides guidelines.