R.C. § 3959.11 Written Agreement to Act As Administrator Between the Administrator and the Plan Sponsor

• Library: Ohio Statutes
• Edition: 2023
• Currency: Current with legislation from 2023 effective through December 7, 2023.
• Year: 2023
• Citation: R.C. § 3959.11

(A) No person may act as an administrator without a written agreement between the administrator and the plan sponsor. Such written agreement shall be retained as part of the official records of the administrator for the duration of the agreement and for five years thereafter. Each such agreement shall contain, at a minimum, all of the following information:

(1) The term of the agreement;

(2) An explanation of the services to be performed by the administrator;

(3) The method and rate of compensation to be paid by the plan sponsor to the administrator for services rendered;

(4) Provisions for the renewal and termination of the agreement.