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Schools First 1M FEDERAL CREDIT UNION formerly OCTFCU smart options for retirement October 14, 2009 DearM_- We are writing to inform you that effective December 2009 SchoolsFirst Federal Credit Union along with our partner National Benefit Services will begin imposing a fee to the vendors- p-articipating-in your school district's 403(b)-plan. -New regulatory requirements and greater participant communications have significantly increased the cost related to the administration of 403(b) plans. Because of this, like many other third party administrators, we expect vendors to share in the expense. We will charge the vendors $2.00 per month per active participant. Please note, this does not change the terms of your agreement with SchooisFirst FeU, and the charge will be to the vendor, not the school district - You should know that once the fee is introduced, there is a possibility that some vendors may elect to stop offering their products to participants in the plan. In addition, some may choose to pass the fee onto the participants. While we do not expect this to be the case with the majority of the vendors, we did want you to know this may happen. Online Enclosed you will find a TPA Appointment Notice. We ask that you complete and return it to us by November 30, 2009. This notice will serve a dual purpose as it authorizes the billing of TPA fees to the plan vendors, and allows us to act on behalf -of your district in fulfilling duties associated with the 403(b) Provider /Information Sharing Agreements. www.SchoolsFirstfcu.org Telephone Service Center / 800.462.8328 714.258.4000 As always, thank you tor your continued support. Please be assured that our commitment to you will remain focused on providing the highest level of service, while keeping your district in compliance with the ever changing regulatory environment related to administering your 40"3(b) plan. If you-have any questions related to this change, we would be happy to discuss them with you. Please contact Carol Silva at 800-462-8328 extension 8347. Street Address 2115 N. Broadway Santa Ana, CA 92706 P.o. Box 11547 Sincerely, ~ rJJ '. (Y. ~ Darin Woinarowicz . Senior Vice President, Financial Services nOli Wd 6113060- Mailing Address Santa Ana, CA S3Jl A Ci3S rn:JN V NLi 92711-1547 Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRAISIPC, a registered broker/dealer and Investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109: NondepOsif-irhlestnien\ and Insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by ScIlooIsFIISt FCU. CBSI is under contract with SchoolsRrst FCU, through the financial services program, to make securities available to Members_ .
