Summary of Contract Attachment 3 (Part 1) - UT Amendment One

This amendment document pertains to the State of Tennessee's Optional Retirement Program and Public Higher Education 403(b) Plans recordkeeping, administration, and investment options contract. The amendment addresses modifications to the existing contract terms and conditions governing the provision of retirement plan services to the state's higher education institutions. The document outlines updates to contractual obligations, service delivery requirements, and administrative procedures for managing the retirement plans, including recordkeeping systems, participant communications, investment option management, and compliance with applicable regulatory standards. The amendment specifies operational requirements and clarifies the roles and responsibilities of the service provider in maintaining plan administration across multiple higher education entities within Tennessee's university system.

The amendment includes revised pricing structures, updated service level agreements, and modifications to performance standards for plan administration and recordkeeping functions. The document establishes requirements for participant account maintenance, investment option administration, regulatory compliance reporting, and customer service standards. The amendment reflects changes to operational procedures, system requirements, and administrative protocols necessary to ensure continued compliance with federal retirement plan regulations and state procurement standards. Additional details regarding funding mechanisms, payment terms, and renewal provisions are incorporated into the amended contract terms.