HomeMy WebLinkAboutDocumentation_Pension General_Tab 21_05/03/2010 Village of Tequesta General Employees'
Pension Trust Fund
and
Salem Trust Company
ADDENDUM TO
CUSTODY AGREEMENT
THIS ADDENDUM is entered into this day of , 2010
by and between the BOARD OF TRUSTEES ( "Trustees ") OF THE VILLAGE OF
TEQUESTA GENERAL EMPLOYEES' PENSION TRUST FUND ( "Fund ") and SALEM
TRUST COMPANY ( "Custodian ") and amends the Custodian Agreement dated October 3,
2005 between the parties.
In consideration of the agreements, covenants and conditions hereinafter set forth,
the Trustees and Custodian agree to amend the Agreement as follows adding the following
provisions:
1. Amend paragraph 2 by adding the following:
g. In connection with its ministerial duties, the Custodian shall pay or cause to
be paid insofar as funds are available for the purpose, such benefits bills,
statements and other obligations of the Fund (including but not limited to its
obligations in connection with conversion, exchange or surrender of securities
owned by the fund, interest charges, mail or insurance expense, dividend
disbursements, taxes, and other similar expenses) that are approved
specifically by the Trustees or its designee. No disbursements shall be made
unless the Custodian has received written directions from the Trustees or its
designee.
h. The Custodian shall be responsible for the annual tax reporting including the
preparation and transmittal of the participant 1099R forms.
i. The Custodian shall purchase and sell mutual funds, receive and deliver
mutual funds and daily price mutual fund securities on the Fund.
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2. Delete paragraph 5 and insert the following:
5. Reports Copies of a monthly statement and check register showing all income
and principal transactions, including a listing of assets held in the account of
the Trustees shall be sent to the Trustees, the Trustees Investment Monitor,
the Pension Fund Coordinator and such other individuals as directed by the
Trustees. Statements shall be available on a trade date and settlement date
basis as well as provide for full accruals, cost basis and book value.
In all other respects, the Agreement dated October 3, 2005 remains in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement by their
respective authorized representatives on the dates indicated below.
BOARD OF TRUSTEES OF THE SALEM TRUST COMPANY
VILLAGE OF TEQUESTA GENERAL
EMPLOYEES' PENSION TRUST FUND
As Chair By:
As Secretary Title
Date Date
WITNESS: WITNESS:
As to Trustees As to Custodian
BSJladt
April 5, 2010
HATequesta GE 1012 \Vendors \CUST0DIAN \Sa1em Trust \2010 -04 Addendum.wpd
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