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Defined Benefit Pension Plan

Government : Federal
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The main objective of this Plan is to provide retirement benefits for LE Staff who are current participants of the U.S Embassy in Suriname's DB Plan serviced by MetLife/ALICO (contract # 90108). The new contract must have the same benefit levels. The U.S. Department of State will consider a Deposit Administration Fund or another type of funding vehicle able to provide plan servicing during the account accumulation phase with an annuity benefit payment upon retirement eligibility.

This is a service contract to administer Department assets of approximately $3 to $12 million dollars and purchase annuities from an insurer or administer annuity payments from the fund. A financial institution (bank, insurance company, pension provider, or financial services plan administrator) may service this contract. The service contract will be based on fees for administering Department assets, which may include any of the following if applicable:
• Accounting fees
• Banking fees
• Investment fees
• Annuity insurance purchase fees
• Per participant fees
• Annual fees

Kory Strickland, GSO, Phone 5975567002264, Email

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