Common use of Retirement Plans and Retirement Clause in Contracts

Retirement Plans and Retirement. Accounts After RPS has received monies from Retirement Plans and has determined the proper allocation of such monies to the Retirement Accounts of Participants based upon instructions received from Participants, Retirement Plans or their designees, or Retirement Plan Administrator(s) ("Administrator(s)"), RPS will, as a responsibility under the Agreement: a. In the case of a new Participant, establish and maintain a Retirement Account for such Participant; b. Compute the number of shares of each Fund to which the Participant is entitled in accordance with the price per share of such Fund as calculated and provided by the Fund for orders received at that time and date, and purchase the appropriate shares in each such Retirement Account; c. Calculate the aggregate of all purchases in the Retirement Accounts and transmit the net purchase order to T. Xxxx Price Services, Inc. ("Services") or directly to the Fund, as the case may be, for purchase into an omnibus account established in each Fund registered in RPS' or its affiliates' name as agent for Retirement Plans or in the individual Retirement Plan's name ("Omnibus Account"); and d. Transmit to Services, by wire, at a time mutually agreed upon by both parties, the aggregate money allocated to coincide with the purchase order.