REQUIRED 408(b)(2) FEE DISCLOSURE
This Fee Disclosure (or “Compensation Disclosure”) incorporates by reference Terms and Service Order between Client, Plan, and Uniglobal, including any schedule, addendum, appendix, and/or amendment.
Massachusetts Mutual Life Insurance Company (MassMutual®)
In addition to the compensation disclosed in Terms and Service Order to Client and Plan, Uniglobal may participate in MassMutual's "TPASmart" Program (the "Program"). The TPASmart Program is designed to provide cash and non-cash compensation in return for certain administrative, sales support, and retention services that Uniglobal may provide to MassMutual. As explained below, the amount of compensation Uniglobal may receive, and its eligibility for some types of compensation, depends, in part, on the amount of business that Uniglobal places, services, and retains with MassMutual and whether Uniglobal has entered into an agreement with MassMutual to participate in the TPASmart Program, and is eligible for "PhD" or "Masters" status under the Program. Uniglobal will report any compensation received from MassMutual under the Program, if applicable, on Form 5500.
In the event that Uniglobal's status is that of an Approved, PhD, or Masters TPA under the Program, the amount or rate of the payments that MassMutual makes to Uniglobal with respect to your plan will appear in "Your Plan's Initial Schedule of Fees and Charges" Section of the MassMutual Disclosure Statement to the plan. If Uniglobal does not qualify for compensation under the TPASmart Program, no additional information is displayed in this Section of the MassMutual Disclosure Statement to the plan.
Products sold to retirement plans may result in Uniglobal receiving compensation from MassMutual under the TPASmart Program as follows:
Additional Payments: MassMutual makes additional payments to TPAs under the TPASmart Program based on their status as described below:
Initial Payments: If Uniglobal is a PhD or Masters TPA, MassMutual may make a one-time payment, called an "Initial Payment", as follows:
Start-up plans: If your plan is a new plan that you first establish with us (a "Start-up Plan"), MassMutual may make an Initial Payment of $200 to Uniglobal. If your Start-up Plan is a conversion from a SIMPLE or SEP plan, MassMutual may make an Initial Payment of $1,000 to Uniglobal.
Existing qualified ("Takeover") Plans: If you are transferring your existing qualified plan to us from another provider, we call your plan a "Takeover Plan". MassMutual may make an Initial Payment to Uniglobal with respect to your Takeover Plan based on the plan's Takeover assets. MassMutual may calculate this Initial Payment based on the following schedule:
|Takeover Assets||Initial Payment|
|$1 to to $499,999||$1,000|
|$500,000 to $999,999||$2,000|
|$1,000,000 to $1,999,999||$4,000|
|$2,000,000 to $2,999,999||$5,000|
|$3,000,000 to $3,999,999||$7,500|
|$4,000,000 to $4,999,999||$10,000|
|$5,000,000 and over||Initial Payment is plan specific*|
* Plan specific Initial Payments are disclosed to you by MassMutual in the Change Notice provided with your Disclosure Statement
Retention Payments: In addition to the Initial Payments, MassMutual may make ongoing payments to PhD TPAs. These payments are called "Retention Payments."
Retention Payments are quarterly payments of an annual amount equal to 0.05% of your retirement product value each year beginning in the first contract year. Retention Payments for Plans with Takeover assets of $5,000,000 and over are plan specific, and the rate or amount is disclosed to you by MassMutual in the Change Notice provided with your Disclosure Statement.
Payments in addition to Initial Payments and Retention Payments: MassMutual may make additional annual payments to a select number of TPAs. These payments are in addition to the Initial and Retention Payments described above. These payments range from 0.01% to 0.03% annually based on your plan's retirement product value. If Uniglobal will receive these additional payments, the amount or rate of the payments is disclosed to you by MassMutual in the Change Notice provided with your Disclosure Statement.
Travel and Expenses for Conferences, Contests, and Other Beneits: Under the TPASmart Program, Uniglobal may be eligible for trips to conferences with expenses paid by MassMutual. MassMutual may also conduct contests with prizes for Uniglobal. MassMutual may provide various other benefits and incentives to Uniglobal for its participation in the TPASmart Program. These benefits and incentives include eligibility for participation in various affinity programs and payments for or towards educational programs and conferences.
Please refer to the Service Order for fees that are considered Direct Compensation such as Administration and Compliance Service Fees, Loan Processing & Origination Fees, Participant Distribution Fees, and QDRO Review Fees. All Direct Compensation paid by the Plan and/or Client is disclosed in Terms, Service Order, and/or any addendum, attachment, schedule, exhibit, appendix, or amendment, as applicable, including this Compensation Disclosure, and together with fee related materials from other parties including Other Service Provider Compensation Disclosures constitute Uniglobal’s compliance with this disclosure law.