CLASS Y SHAREHOLDER SERVICE AGREEMENT
This agreement is between IDS Managed Retirement Fund, Inc. (the Fund) and
American Express Financial Advisors Inc. (AEFA), the principal underwriter of
the Fund, for services to be provided to shareholders of Class Y of the Fund
by AEFA and other servicing agents.
AEFA represents that shareholders consider personal service a significant
factor in their satisfaction with their investment. AEFA represents that fees
paid by the Fund will be used to help shareholders thoughtfully consider
their investment goals and objectively monitor how well the goals are being
achieved.
The Fund agrees to pay AEFA 0.10 percent of the net asset value of Class Y.
The Fund agrees to pay AEFA in cash within five (5) business days after the
last day of each month.
AEFA agrees to provide the Fund annually a budget covering its expected costs
and a quarterly report of its actual expenditures. AEFA agrees to meet with
representatives of the Fund at their request to provide information as may be
reasonably necessary to evaluate its performance under the terms of this
agreement.
This agreement shall continue in effect for a period of more than one year so
long as it is reapproved at least annually at a meeting called for the
purpose of voting on the agreement by a vote, in person, of the members of
the Board who are not interested persons of the Fund and have no financial
interest in the operation of the agreement, and of all the members of the
Board.
This agreement may be terminated at any time without payment of any penalty
by a vote of a majority of the members of the Board who are not interested
persons of the Fund and have no financial interest in the operation of the
agreement or by AEFA. The agreement will terminate automatically in the event
of its assignment as that term is defined in the Investment Company Act of
1940. This agreement may be amended at any time provided the amendment is
approved in the same manner the agreement was initially approved and the
amendment is agreed to by AEFA.
Approved as of this 9th day of May, 1997.
IDS MANAGED RETIREMENT FUND, INC. AMERICAN EXPRESS
IDS Managed Allocation Fund FINANCIAL ADVISORS INC.
/s/ Xxxxxx X. Xxx /s/ Xxxx X. Xxxxxxxxx
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Xxxxxx X. Xxx Xxxx X. Xxxxxxxxx
Vice President Vice President
