Common use of PLAN ACCOUNTING Clause in Contracts

PLAN ACCOUNTING. 1) Process consolidated payroll contributions according to the Sponsor’s payroll frequency via Plan Sponsor Webstation or other medium permitted by the Trustee. The data format will be provided by the Trustee. 2) Maintain and update employee data necessary to support Plan administration. The data will be submitted according to payroll frequency. 3) Provide daily Plan and Participant level accounting for all Plan investment options. 4) Provide daily Plan and Participant level accounting for all money classifications for the Plan. 5) Audit and reconcile the Plan and Participant accounts daily. 6) Reconcile and process Participant withdrawal requests and distributions as approved and directed by the Sponsor. All requests are paid based on the current market values of Participants’ accounts, not advanced or estimated values. A distribution report will accompany each check. 7) Maintain and process changes to Participants’ existing hypothetical investment mix elections.

PLAN ACCOUNTING. 1) Process consolidated payroll contributions according to the Sponsor’s payroll frequency via Plan Sponsor Webstation EDT, consolidated magnetic tape or other medium permitted by the Trusteediskette. The data format will be provided by the Trustee. 2) Maintain and update employee data necessary to support Plan administration. The data will be submitted according to payroll frequency. 3) Provide daily Plan and Participant level accounting for all Plan investment options. 4) Provide daily Plan and Participant level accounting for all money classifications for the Plan. 5) Audit and reconcile the Plan and Participant accounts daily. 6) Reconcile and process Participant withdrawal requests and distributions as approved and directed by the Sponsor. All requests are paid based on the current market values of Participants’ accounts, not advanced or estimated values. A distribution report will accompany each check. 7) Maintain and process changes to Participants’ existing hypothetical investment mix elections.