Application for Participation Reliance Trust Company Stable Value Fund MetLife Series Class 0

Transcription

1 Application for Participation Reliance Trust Company Stable Value Fund MetLife Series Class 0 COMPLETE YOUR RELIANCE TRUST APPLICATION IN FIVE EASY STEPS To complete your application, simply: 1. SCROLL DOWN AND REVIEW THE NEW CLIENT CHECKLIST. 2. COMPLETE EACH REQUIRED FORM. If you d like to complete the Agreement of Participation by hand, skip this step and move on to step ONCE YOU HAVE PROVIDED THE REQUESTED INFORMATION REVIEW THE FORMS TO ENSURE THEY ARE COMPLETE. 4. PRINT ALL REQUIRED FORMS. 5. SIGN AND DATE ALL FORMS AND SUBMIT TO CITGROUP@RELICO.COM FOR REVIEW AND APPROVAL.

2 New Client Checklist Reliance Trust Company Stable Value Fund MetLife Series Class 0 Welcome! We are so excited to begin our partnership with you! To ensure we have the information we need to best serve you, please take a few moments to review this page which outlines the Application of Participation. Step 1. Complete Agreement of Participation (Required) Complete all form fields on page 1 of the agreement in their entirety as this page will prepopulate the rest of the agreement. An authorized signer of the Plan Sponsor must date and execute the agreement on the bottom of Page 3. Step 2. Complete Investment Menu Form Exhibit A (Required) List all investment options that are available to plan participants in your plan. Note: An investment in the Reliance Trust Company Stable Value fund MetLife Series Class 0 is not available to the Plan if the Plan also offers competing investment funds as identified below. A Competing Funds Waiver Agreement is available for fixed income funds and self-directed brokerage accounts (SDBA). At no time are money markets or other stable value funds permitted. The following represent competing funds as defined by the trust: Fixed income funds with target durations of 3 years or less Self-Directed Brokerage Accounts (SDBA) Other Stable Value Funds Money Market Funds Allocation Investment Models or Funds with 70% or more invested in fixed income stable value or money market funds Step 3. Complete Competing Funds Waiver Agreement Exhibit B (If Applicable) The Competing Funds Waiver Agreement is available for fixed income funds and selfdirected brokerage accounts (SDBA). All other competing funds are not eligible. The TPA and/or Recordkeeping Firm identified for the plan must agree to maintain and enforce a 90- day equity wash provision. Step 4. Complete Investment Allocation Model Waiver Agreement Exhibit C (If Applicable) Complete and sign this form if you plan to use the Reliance Trust Company Stable Value Fund MetLife Series Class 0 in an investment allocation model. Request additional Investment Allocation Model Waiver Agreements from citgroup@relico.com. Step 5. Complete Producer Designation Form Exhibit D (If Applicable) Complete and sign only if the Selling Producer/Advisor will be receiving compensation payments issued directly from Reliance Trust Company as Trustee of the Collective Trust. Step 6. Submit required documents to citgroup@relico.com for review and approval (Required) If you have any questions, please feel free to contact us at any time at citgroup@relico.com.

3 Agreement of Participation Reliance Trust Company Stable Value Fund Collective Investment Trust MetLife Series Class 0 Agreement of Participation Check One: New Account Share Class Change Platform Change TPA Change Plan Name: TPA/Recordkeeper Firm: Relationship Manager: TPA/Recordkeeper Information Phone#: Financial Advisor Information Brokerage Firm: Financial Advisor: Address: City: State: Zip: Phone#: Plan Information Plan Sponsor: Plan Sponsor Contact: Address: City: State: Zip: Phone#: Company Employer Identification (EIN) # Plan 3-digit ID Number Trading Platform: 04/

4 Agreement of Participation Reliance Trust Company Stable Value Fund Collective Investment Trust MetLife Series Class 0 As an officer of (name of plan sponsor), the plan sponsor (the Plan Sponsor ) and a fiduciary with respect to the (name of plan) (the Plan ), I have the authority to execute this Agreement of Participation on behalf of the Plan and its related trust; and by my signature below, I hereby enroll the Plan and authorize participation of the Plan in Series Class 0 of the group trust designated as the Reliance Trust Company Stable Value Fund Collective Investment Trust maintained pursuant to the Declaration of Trust effective as of January 1, 2010 (the Declaration of Trust ) of Reliance Trust Company (the Trustee ), thereby resulting in the Plan becoming a Participating Plan (within the meaning of the Declaration of Trust) in Series Class 0 of the group trust established under the terms of the Declaration of Trust (the Trust ). All capitalized items used herein shall have the meaning ascribed to them in the Declaration of Trust unless otherwise defined. The Plan Sponsor hereby designates the Trustee as an ancillary trustee of the assets of the Plan held pursuant to the Trust and hereby adopts the Trust as part of the Plan. A copy of the Declaration of Trust is attached hereto and made a part hereof and a part of the Plan, and the Plan Sponsor hereby agrees to be bound by the provisions of this Agreement of Participation and the Declaration of Trust. The Plan Sponsor agrees to transfer to, or direct the transfer to, the Trustee, any and all funds of the Plan to be allocated to the Trust. The Plan Sponsor, through its Recordkeeper, shall give written directions as to the investment and distribution of assets of Plan participants. All directions by the Plan Sponsor shall be given directly to the Recordkeeper. The Plan Sponsor warrants, represents and agrees that: 1. The Plan is an Eligible Plan as defined in the Declaration of Trust. 2. The Plan is either: (a) a pension, profit-sharing or stock bonus plan that is qualified under Section 401(a) of the Internal Revenue Code of 1986 as amended (the Code ) and is exempt from taxation under Section 501(a) of the Code, but does not cover any self-employed individuals within the meaning of Section 401(c)(1) of the Code, unless the Plan satisfies Rule 180 under the Securities Act of 1933, as amended; (b) a plan or governmental unit described in Section 818(a)(6) of the Code; or (c) an eligible governmental plan described in Section 457(b) of the Code. 3. The Plan is established or maintained pursuant to one or more documents that authorize the collective investment of the assets of the Plan for investment purposes with the assets of other tax-qualified plans and authorizes the adoption of the Declaration of Trust. 4. The Plan Sponsor acknowledges that the Plan will not become a Participating Plan unless the Trustee accepts assets from the Plan for participation in the Trust. 5. The Plan Sponsor understands its rights and responsibilities as defined in the Declaration of Trust, including without limitation, Article 3, Article 7, Appendix B and Appendix C of the Declaration of Trust. 6. The Plan Sponsor agrees to immediately advise the Trustee and the Recordkeeper in writing of any event of which the Plan Sponsor has actual or constructive knowledge that jeopardizes or may jeopardize the Plan s status as an Eligible Plan. 7. The Plan Sponsor acknowledges the fee and expense provisions of Sections 5.05 and 6.04 and Appendix D of the Declaration of Trust and in the Disclosure Document. 8. The Plan Sponsor agrees to indemnify and hold harmless the Trustee and its shareholders, directors, officers, employees, agents, affiliates, successors, and assigns from any and all losses, claims, damages and expenses (including without limitation attorneys fees and court costs) which may be incurred due to the Trustee acting as trustee under the Declaration of Trust with respect to the Plan, except to the extent resulting from the Trustee s negligence, willful misconduct or breach of fiduciary duty. 9. In addition to any other indemnification provided in the Declaration of Trust, the Plan Sponsor specifically agrees to indemnify and hold harmless the Trustee and its shareholders, directors, officers, employees, agents, affiliates, successors, and assigns from any and all losses, claims, damages and expenses (including without limitation attorneys fees and court costs), resulting from any failure of (i) the Plan to qualify as an Eligible Plan either under the terms of the Declaration of Trust or as a result of failing to satisfy any provisions of the Code, or (ii) the eligibility of the Plan s Trust to participate in the Trust. 10. The Plan and the Plan Sponsor have the power and authority to execute, deliver and perform under this Agreement of Participation. 11. The Plan Sponsor acknowledges its receipt of and agrees to the terms of the Reliance Trust Company Stable Value Fund MetLife Series Class 0 Disclosure Document. 12. The Recordkeeper identified in the Agreement of Participation will serve as authorized agent for the Plan and the Plan Sponsor with respect to all matters relating to the Group Trust. The Recordkeeper will, on behalf of the Plan and the Plan Sponsor, communicate all deposit and withdrawal requests relating to the Group Trust to the Trustee. The Trustee will address all communications and notices to the Plan to the Recordkeeper and provision of such communications and notices to the Recordkeeper shall be considered to be provision to the Plan and Plan Sponsor. 04/

5 Agreement of Participation Reliance Trust Company Stable Value Fund Collective Investment Trust MetLife Series Class 0 Annual Fund Operating Expenses Fees based on the Contract Value MetLife Contract Charge % Reliance Trust Company % Total Operating Expenses 0.66% Actual MetLife Contract charge may be based on the fee schedule for each Separate Account that is applied to the Contract s contract value and may be higher or lower depending on the relative proportions of the Contract invested in each Separate Account at any given time. See Appendix A for full fee disclosure. These fees are taken into account in setting the interest rate and are not applied to reduce the Fund s Contract Value. These fees are paid from the Separate Accounts. The Trustee, in its capacity as Trustee for the Fund, charges a fee for investment, administration, custodial, fund accounting, and administrative services. These fees are taken into account in setting the interest rate and are not applied to reduce the Fund s Contract Value. These fees are paid from the Separate Accounts. The Trustee may charge to the Fund or otherwise disburse from the Fund all reasonable costs and expenses incurred in the administration of the Fund, as more fully described in the Declaration of Trust and the Series Amendment (such expenses may include but are not limited to legal fees, litigation expenses, brokerage fees and audit fees). These fees would normally reduce the Fund s Contract Value and would be paid from the Separate Accounts. PLAN SPONSOR FUND TRUSTEE APPROVAL As an authorized officer of the Plan Sponsor and as a fiduciary of the Participating Plan, I understand that the Trustee will invest all assets under the Trust as set forth in the Declaration of Trust. The Plan Sponsor agrees to be bound by the terms of this Agreement of Participation, Disclosure Document, and Declaration of Trust. The below plan has been approved for participation in the Reliance Trust Company Stable Value Fund Collective Investment Trust. (Name of Plan Sponsor) Reliance Trust Company (Name of Trustee) By: (Signature) By: (Signature) Name: (Please Print) Name: (Please Print) Date Signed: Date Signed: Name of Plan: 04/

6 Exhibit A - Investment Menu Reliance Trust Company Stable Value Fund - Metlife Series Plan Sponsor: Plan Name: Investment Name Ticker or CUSIP Investment Name Ticker or CUSIP At the discretion of Reliance Trust Company, the Fund's Trustee may request a periodic review of the available investment options in the participating plan. 04/

7 Exhibit B - Competing Funds Waiver Agreement Reliance Trust Company Stable Value Fund - MetLife Series Plan Name: TPA/Recordkeeping Firm: Competing Fund Type: Short Duration Bond Fund (Duration<3yrs) Ticker(s): Self Directed Brokerage Account (SDBA) Additional Details: (250 Character Limit) Confirmation: By signing below, the Recordkeeping Firm referenced agrees to maintain and enforce a 90 day equity wash provision on the above referenced plan, currently invested within a collective investment fund invested within a MetLife Managed GIC. This provision requires that no plan may make a transaction where assets pass between the collective investment fund and the above referenced Competing Fund Option, without first residing in a non-competing option, for a period of no less than 90 days. Enforcement of this provision is the responsibility of the Recordkeeping Firm signing below. Granting of a waiver relative to this acceptance is at the discretion of Reliance Trust Company and MetLife and a waiver is only granted once this document has been executed by the Recordkeeping Firm, Reliance Trust Comapny and MetLife. Recordkeeper/TPA Signature Reliance Trust Signature MetLife Signature Print Name Print Name Print Name Recordkeeping/TPA Firm Reliance Trust Company MetLife Date Date Date 04/

8 Exhibit C - Investment Allocation Model Agreement Reliance Trust Company Stable Value Fund - MetLife Series Plan Name: Name of Investment Allocation Model: Strategy: Strategic Allocation Tactical Allocation Investment (Ticker or CUSIP) Static Allocation% Investment (Ticker or CUSIP) Static Allocation% Confirmation: The Allocation Fund includes the Reliance Trust Metlife Stable Value Fund (the "Fund") in its asset allocation model. By signing below, the Plan Fiduciary or its authorized Investment Fiduciary represents to maintain the static allocation noted above for the Allocation Fund available to participants in the Plan. This provision requires that the asset allocation attributable to the Fund remain static with the exception of periodic rebalancing trades to the targeted percentage invested in the Allocation Fund. Compliance with this waiver is strictly monitored by the Fund's Trustee and is subject to periodic request from the Fund's Trustee to validate conformance with the waiver. Note: Knowledge of an asset allocation breach without the prior consent of the Fund's Trustee and Contract Issuer which identifies a reduction in the percentage allocated to the Fund may be subject to the lesser of market or book value provisions as described in the Fund's Decloration of Trust and Disclosure documents. Enforcement of this provision is the responsibility of the Plan or its Investment Fiduciary. This waiver is only valid upon the acceptance by the Trustee and Contract Issuer. Signature Signature Signature Print Name Print Name Print Name Plan Investment Fiduciary Reliance Trust Company MetLife Date Date Date 04/

9 Exhibit D - Producer Designation Form Reliance Trust Company Stable Value Fund - Metlife Series Selling Producer/Advisor will receive compensation for providing investment educational services to the plan sponsor and administrative support. The compensation will be paid quarterly at the rate specified in the Agreement of Participation signed by the plan fiduciary. Compensation payments will be issued by Reliance Trust Company as Trustee of the Collective Trust. Checks will be made payable to the Producer Firm Name specified below and will include reference to the Producer and Plan Name included in this form. Plan Name: Producer 1 Information Producer 1 Name: Producer 1 Firm (Payable To): Producer 1 Firm Address: Producer 1 Firm Address: City: State: Zip Code: Telephone #: Producer 1 Branch ID: Producer 1 Producer 1 Rep#: Producer 1 Commission Split (Between Producers, expressed as a Percentage): Producer 2 Information (if applicable) Producer 2 Name: Producer 2 Firm (Payable To): Producer 2 Firm Address: Producer 2 Firm Address: City: State: Zip Code: Telephone #: Producer 2 Branch ID: Producer 2 Producer 2 Rep#: Producer 2 Commission Split (Between Producers, expressed as a Percentage): Producer 1 Name (PRINT) Producer 2 Name (PRINT) Name (PRINT) Producer 1 Signature Producer 2 Signature Signature Date Date Date 04/

10 Reliance Trust Company Stable Value Fund MetLife Series Class 0 Disclosure Document INTRODUCTION (ii) is exempt from Federal income taxation under (A) Section 501(a) of the Code by reason of qualifying as a group trust under Revenue Ruling or (B) Section 584 of the Code. This document (the Disclosure ) is intended to acquaint you with some of the key features of your plan s investment in units of MetLife Series Class 0 (the Fund ) of the Reliance Trust Company Stable Value Fund Collective Investment Trust (the Trust ). This document further provides for disclosure of all fees and expenses. The Fund s sole investment currently is Group Annuity Contract (the Contract ) issued by Metropolitan Life Insurance Company ( MetLife ). Your plan will not invest directly in the Contract. The Trustee is the sole contractholder of the Contract. Your plan will access the Fund through your plan s third party administrator s or Recordkeeper s ( Recordkeeper ) platform and any operational platforms (including trust custodians) utilized by your Recordkeeper. The Contract has been restated and approved by the New York State Insurance Department effective as of January 1, You may request a copy of the Contract by contacting Reliance Trust or your Recordkeeper. Request made to Reliance Trust can be submitted via to CITGroup@relico.com. This Disclosure does not supersede or in any way modify the terms of (i) the Contract, (ii) the trust agreement under which the Fund is maintained, which is called the Reliance Trust Company Stable Value Fund Collective Investment Trust Declaration of Trust (the Trust Agreement ), (iii) the participation agreement, execution of which evidences your plan s eligibility for the Fund and your assent to the terms of the Trust Agreement and other requirements (the Participation Agreement ), or (iv) any other agreement. We urge you to review all of these documents before you sign the Participation Agreement. Your Recordkeeper or the Trustee can provide further information about the Trust upon request. The Trust Agreement constitutes an amendment and restatement effective January 1, 2010 (the Effective Date ) of the prior Master Trust Agreement dated April 15, 2005 under which the Fund was previously maintained (the Master Trust Agreement ). ELIGIBILITY Your plan must qualify as an Eligible Plan to participate under the Trust. Eligible Plan means any of the following with respect to which the Trustee has been appointed to hold assets, and which the Trustee, in its sole discretion, has accepted as a plan participating in the Trust (a Participating Plan ): (a) a defined contribution retirement, pension, profit-sharing, stock bonus, or other employee benefit trust which is qualified under Section 401 (a) of the Internal Revenue Code, but excluding any trust covering self-employed individuals within the meaning of Section 401(c)(1) of the Code unless such trust provides evidence reasonably satisfactory to the Trustee that it satisfies the applicable requirements of the Securities Act of 1933 and Rule 180 thereunder, (b) an eligible governmental plan described in Section 457(b) of the Internal Revenue Code; (c) any plan or governmental unit described in Section 818(a)(6) of the Internal Revenue Code; or (d) any common, collective, or commingled trust fund, which: (i) consists solely of the assets of trusts and plans described in Subsections (a) through (c), and Each trust or plan described in subsection (a), (b), (c), or (d) must be maintained pursuant to a document which authorizes it to participate in the Trust or in any common, collective, or commingled trust fund. TERMS AND CONDITIONS Plan Contract Value and Contract Value Your Plan Contract Value represents your plan s contributions to the Fund, plus interest at a fixed periodic rate set by MetLife, less withdrawals (calculated at Plan Contract Value), and less expenses of the Fund allocated to your plan, other than fees and expenses that MetLife has taken into account in determining the fixed periodic interest rate, such as the Trustee s fees, MetLife s contract charges, and fees and expenses that your plan authorizes and directs the Trustee to pay to providers of services to the plan as described in this Disclosure. The Fund s Contract Value is calculated for the entire Fund and represents the sum of the Plan Contract Values for all Participating Plans. Your Plan Contract Value (i.e., your plan s interest in the Contract Value of the Fund) will be recorded by a designated number of units ( Units ). There will be a different class of Units for each group of Participating Plans that has authorized and directed the Trustee to pay a different amount to the plans Recordkeeper and/or other providers of services to the plans. The Fund will pay withdrawals, initiated by your plan s participants under the terms of your plan, up to the full amount of your Plan Contract Value, subject to the terms contained in the Contract and the Trust Agreement. See the Withdrawals section of this Disclosure for more information. Fund Market Value and Plan Market Value Contributions to the Fund are invested in one or more MetLife separate accounts (the Separate Accounts ). The Separate Accounts are reduced by all withdrawals from the Fund and all expenses of the Fund, including the Trustee s fees, MetLife s Contract charges, and fees and expenses that Participating Plans authorize and direct the Trustee to pay to providers of services to the plans. The Separate Accounts will be adjusted for earnings and losses on the investments of the Separate Accounts. The Separate Accounts selected to fund the Contract as of October 1, 2009 are described in Appendix A. The Trustee reserves the right to change the investment of the Fund s assets, including without limitation, re-allocating assets among the Separate Accounts or investing the assets in investments other than the Separate Accounts. The Trustee is not required to provide advance notice to Participating Plans of any such change, but will provide or make available a description of the new investment allocation within 90 days after such change becomes effective. The Fund s Market Value at any point in time equals the market value of the Fund s interest in the Separate Accounts at that time. Your plan s share of the Fund s Market Value is referred to as Plan Market Value and equals the Fund s Market Value times the ratio of your Plan Contract Value to the Fund s Contract Value. At any point in time, the Fund s Market Value may be greater or less than the Fund s Contract Value. 04/

11 Reliance Trust Company Stable Value Fund MetLife Series Class 0 Disclosure Document Under New York State Insurance Law, the Separate Accounts assets are insulated from the claims of MetLife s general creditors, including other policyholders, in the event that MetLife became insolvent. Interest Rates The Contract in which the Fund is invested provides a fixed periodic interest rate set by MetLife that will apply to the entire Contract s contract value (which will be equal to the Fund s Contract Value as long as the Contract is the Fund s sole investment). You can obtain the current interest rate and its effective dates from your Recordkeeper or from the Trustee by inquiry to CITGroup@relico.com. This rate is net of MetLife s Contract charges, the Trustee s fees, and fees and expenses that Participating Plans authorize and direct the Trustee to pay to providers of services to the plans. MetLife credits this rate to the Contract s contract value. The interest rate is reset periodically by MetLife. As of the Effective Date, the interest rate is reset quarterly, although the Trustee and MetLife reserve the right to change the period for which an interest rate is set. The interest rate will reflect capital market developments, the yield-to-worst performance of the benchmark indices of the Separate Accounts backing the Contract, the expected withdrawals of all of the Participating Plans indirectly participating in the Contract through the Fund, MetLife s Contract charges, the Trustee s fees, and fees and expenses that Participating Plans authorize and direct the Trustee to pay to providers of services to the plans. The Contract s interest rate will not be less than 0%. Additional information regarding the crediting rate formula and calculation are available from the Trustee upon request from CitGroup@relico.com. A Note about the Fund The Fund is a pooled investment fund. The nature of the Fund is such that payments to Participating Plans and service providers (including but not limited to payment of Benefit-Responsive Withdrawals as defined in the Withdrawals section of this Disclosure and payment of differing fees to service providers with respect to different classes of Units of the Fund) may impact positively or negatively the Plan Contract Value and the Plan Market Value of other Participating Plans in the Fund. Contributions The Fund will accept for investment in the Contract contributions and transfers to the Fund as set forth in the Trust Agreement. It will also pay withdrawals and transfers under the terms of the Trust Agreement. Withdrawals Appendix C of the Trust Agreement outlines specific provisions relating to withdrawals from the Fund. All withdrawals will normally be paid in cash. However, the Trustee reserves the right to satisfy withdrawals in cash or in kind. Individual Participant-Directed Withdrawals Benefit-Responsive Withdrawals Withdrawals from the Fund at their ratable share of Plan Contract Value are permitted on a daily basis for individual participants in Participating Plans. Participant-directed withdrawals must be requested as provided for within the specific terms of each Participating Plan. Participant-directed withdrawals are withdrawals that are initiated by individual participants in Participating Plans under any of the following circumstances (each such withdrawal, a Benefit-Responsive Withdrawal ): (i) for elections to transfer within the plan to another investment alternative that is not a Competing Fund (as defined on next page) or that is a Competing Fund which the Trustee and MetLife have consented in writing to the Participating Plan not to treat as a Competing Fund, (ii) for participants of a Participating Plan (or beneficiaries or alternate payees thereof) upon death, retirement, disability, or termination of employment, (iii) for the purpose of providing in-service participant-directed distributions from a Participating Plan, (iv) for the purpose of providing mandatory or required distributions from a Participating Plan, (v) for loans to participants, or (vi) for withdrawals pursuant to the provisions of a qualified domestic relations order. Benefit-Responsive Withdrawals will normally be paid in cash. However, the Contract permits a Benefit-Responsive Withdrawal to be satisfied by issuance of an annuity contract. Therefore, if the terms of your plan permit, you can allow participants to elect to receive a distribution by MetLife s issuance of an annuity contract to the participant. The annuity contract will contain terms agreed to by MetLife and the participant or a fiduciary of your plan, and the Trustee will not be a party to the annuity contract. The Trustee will serve as a directed trustee in purchasing any such annuity contract and will have no responsibility with respect to the annuity contract, including evaluating the annuity contract as an investment. If Benefit-Responsive Withdrawals exceed the Contract s market value (which will be the same as the Fund s Market Value as long as the Contract is the Fund s sole investment), MetLife will be obligated to pay the shortfall from its general assets. Participating Plan-Directed Withdrawals Subject to the receipt of funds from MetLife pursuant to the Contract, the Trustee will, and under the Contract MetLife is required to, effect each withdrawal initiated by a Participating Plan or its sponsor (a Participating Plan-Directed Withdrawal ) and each Participant withdrawal deemed to be a Participating Plan-Directed Withdrawal, at the lower of the withdrawal s ratable share of Plan Contract Value or Plan Market Value. A withdrawal will be deemed to be a Participating Plan-Directed Withdrawal under any of the following circumstances: (i) Participant Communication: Participants make withdrawal requests with advice, suggestion, guidance, or direction from the employer maintaining the Participating Plan, the plan administrator, plan fiduciary, Recordkeeper or other service provider (including prospective plan service providers) for the plan or agent of any of the foregoing to do so. (ii) Competing Investment Option: If an investment option has been established by the Participating Plan or the investment policy of an existing investment option of the Participating Plan has been modified so as to constitute or create a Competing Fund (as defined below), unless the Trustee and MetLife have consented in writing to the Participating Plan not to treat the fund as a Competing Fund. (iii) New Pension Plan: A new plan has been established by the sponsor of the Participating Plan covering participants in the 04/

12 Reliance Trust Company Stable Value Fund MetLife Series Class 0 Disclosure Document Participating Plan which offers participants a Competing Fund (as defined below). (iv) Action of Participating Plan: The Participating Plan terminates and the Participating Plan makes a withdrawal request, or the Participating Plan makes a withdrawal request for any reason, except for a Benefit- Responsive Withdrawal. A Competing Fund is: (i) a fixed income fund (including without limitation a money market fund or a bond fund) with a targeted duration of three years or less; (ii) a self-directed brokerage account option; (iii) any investment fund that is reported to participants on a valuation basis comparable to that of the Fund; or (iv) a balanced, lifestyle, target-date or similar type of asset allocation fund, if the fund contains a fund of the type described in item (i), (ii) or (iii) that exceeds 70% of that fund. Timing of Withdrawals Benefit-Responsive Withdrawals will normally be funded in accordance with processing procedures of the National Securities Clearing Corporation, following the Trustee s receipt of withdrawal instructions and all necessary documentation, subject to the receipt of funds from MetLife pursuant to the Contract. Participating Plan-Directed Withdrawals will normally be funded, subject to the receipt of funds from MetLife pursuant to the Contract, no later than two business days (60 business days as to a withdrawal in connection with terminating a Participating Plan s interest in the Fund) following the Trustee s receipt of withdrawal instructions and all necessary documentation. The Trustee may take up to seven additional calendar days after the receipt of good order instructions to fund any withdrawal if the Trustee determines that such delay is necessary to maintain adequate liquidity for the Trust or MetLife advises the Trustee that such delay is necessary to maintain liquidity for the Separate Accounts. The Trustee also reserves the right to delay any withdrawal in the event that the Trustee determines in its discretion that an earlier withdrawal may have an adverse impact on the Trust, MetLife advises the Trustee that an earlier withdrawal may have an adverse impact on the Separate Accounts, or the Trustee determines that it cannot reasonably make the distribution because of an order, directive or other interference by an official or agency of any government, or any other cause beyond the Trustee s control, including but not limited to, illiquid markets. Right to Request Evidence The Trustee may, and will if requested by MetLife under the terms of the Contract, require evidence from a Participating Plan or its sponsor to confirm that a withdrawal request qualifies as a Benefit-Responsive Withdrawal and should not be deemed to be a Participating Plan- Directed Withdrawal. If evidence satisfactory to the Trustee or MetLife is not provided in response to such a request, the Trustee may delay payment or deem the withdrawal request to be a Participating Plan- Directed Withdrawal, subject to subsequent adjustment as a Benefit- Responsive Withdrawal if evidence satisfactory to the Trustee or MetLife is subsequently provided within 60 days after the withdrawal. Withdrawals by the Trustee to Expel Participating Plan The Trustee may expel a Participating Plan from the Trust if the Trustee determines, in its sole discretion, that: (i) a Participating Plan has ceased to qualify as an Eligible Plan, (ii) a withdrawal is necessary to preserve the Trust s legal or tax status, (iii) such Participating Plan is in any way not in compliance with the terms and conditions upon which it was admitted to the Trust, (iv) the Participating Plan has failed to timely submit, within such period of time that the Trustee may require, evidence satisfactory to the Trustee that the Participating Plan satisfies the requirements to be an Eligible Plan or is in compliance with the terms and conditions upon which it was admitted to the Trust, or (v) the plan was participating in the Master Trust Agreement as of the Effective Date and the plan fails to execute a new Participation Agreement and this Disclosure (or a subsequent revised Disclosure distributed by the Trustee to the plan) after the Trustee requires that it do so as a condition to continuing participation in the Trust. In addition, if MetLife makes such a determination under the terms of the Contract and notifies the Trustee of such determination, the Trustee is required to expel such Participating Plan from the Trust. In the event that a Participating Plan is to be expelled from the Trust, the Trustee will so notify the applicable Participating Plan and request a withdrawal from the Contract. If a Participating Plan is expelled from the Trust for a reason in clause (i) or (ii) above, it will be paid an amount equal to the Plan Market Value. If a Participating Plan is expelled from the Trust for a reason in clause (iii), (iv) or (v) above, it will be paid an amount equal to the lower of the Plan Contract Value or Plan Market Value. In any such event such expelled Participating Plan will immediately cease to be a Participating Plan. Fees MetLife s Contract charge is based on the Contract s contract value. MetLife, the Trustee and any Plan authorized service providers will also deduct other fees and expenses from the Fund as authorized and directed by your assent to the terms of this Disclosure. The schedule for these fees as in effect on the Effective Date is shown on the next page under Annual Fund Operating Expenses. The Trustee will communicate any changes in fees to your Recordkeeper who will subsequently notify you of such changes. If you do not wish to pay any revised fee, you must terminate your participation in the Fund, as described in the next section below. You are directing and authorizing the Trustee, MetLife and any of their authorized agents to make payments to service providers to the plan as indicated on the next page under Annual Fund Operating Expenses. Ending Your Plan s Participation Your plan can end its participation in the Fund by notifying your Recordkeeper. If your plan chooses to end its participation in the Fund, or if you, as the plan sponsor make a decision to withdraw a portion of the plan s participation in the Fund, your plan will receive the lesser of Plan Contract Value or Plan Market Value. Please also note that withdrawals in connection with a Participating Plan s termination of participation in the Fund will normally be paid within 60 days following the Trustee s receipt of instructions in good order. 04/

13 Reliance Trust Company Stable Value Fund MetLife Series Class 0 Disclosure Document Amendment to the Trust Agreement The Trustee may amend the Trust Agreement at any time. The amendment will take effect at the date designated by the Trustee. However, any amendment materially changing the Trust Agreement shall be effective no earlier than 60 days after the Trustee gives Participating Plans notice of the amendment. In addition, if MetLife reasonably determines that its financial experience would be materially adversely affected as a result of an amendment to the Trust Agreement, then each withdrawal thereafter will be paid at the lower of the withdrawal s ratable share of Plan Contract Value or Plan Market Value. Discontinuance of Contract Either the Trustee or MetLife may discontinue the Contract. Upon discontinuance of the Contract, the Trustee may elect to no longer accept contributions from a Participating Plan. In general, if MetLife discontinues the Contract, the Trustee will notify your plan within 90 days after the effective date of the discontinuance and will have the right to take one of the actions described in Items (i), (ii), (iii) or (iv) below: (i) pay to each Participating Plan an amount equal to Plan Market Value. (ii) transfer the Contract s contract value to a benefit-responsive fixed rate, fixed maturity general account guaranteed interest contract ( GIC ) from MetLife. The GIC would be issued solely on behalf of the Fund. To determine the GIC s interest rate, MetLife would amortize the difference between the contract value and market value of the Fund s interest in the Contract and take into account MetLife s then current GIC pricing and underwriting practices. In other words, the Fund would be credited with a single interest rate over the term of the GIC without being forced to recognize an immediate market value adjustment. The offer of this new contract is subject to MetLife s normal underwriting requirements at the time the GIC is issued. The GIC would not be invested in Separate Account assets of MetLife, and would not be entitled to the same protections from claims of creditors afforded to separate account assets under New York State Insurance Law. (iii) make other arrangements for disposition of assets held under the Contract as agreed by Trustee and MetLife. (iv) transfer the market value of the assets held under the Contract to another investment contract of an issuer other than MetLife. However, under certain circumstances, MetLife has the right to discontinue the Contract and pay out the market value of the Contract, in which case the Trustee may pay each Participating Plan its ratable share of the market value. These circumstances apply if MetLife determines that its risk under the Contract is materially and adversely affected as a result of certain representations made by the Trustee to MetLife under the Contract being incorrect or if the Trustee has failed to make certain reports to MetLife of withdrawals from or transfers to the Fund and the Trustee fails to take full corrective action within the period permitted by the Contract after receiving notice from MetLife. Termination of Trust The Trustee may terminate the Trust at any time upon at least 60 days prior written notice to Participating Plans. After the date of such notice, no further contributions to the Trust will be permitted. Upon termination, or as promptly thereafter as reasonably feasible, the Trustee will make withdrawals under the Contract of all available assets and distribute in cash or in kind the net assets of the Trust to the Participating Plans in proportion to their interests. In this scenario, each Participating Plan would be paid Plan Market Value, not Plan Contract Value. Agency The Recordkeeper for a Participating Trust will serve as authorized agent for the plan and the plan fiduciaries with respect to all matters relating to the Trust. As a result, the Recordkeeper for a Participating Trust will communicate purchase and withdrawal instructions for that plan. In addition, where applicable, the Trustee will address all communications and notices relating to each Participating Trust to the custodian or record keeper for that plan. Annual Fund Operating Expenses Fees based on the Contract Value MetLife Contract Charge % Reliance Trust Company % Total Annual Operating Expenses 0.66% Actual MetLife Contract charge may be based on the fee schedule for each Separate Account that is applied to the Contract s contract value and may be higher or lower depending on the relative proportions of the Contract invested in each Separate Account at any given time. See Appendix A for full fee disclosure. These fees are taken into account in setting the interest rate and are not applied to reduce the Fund s Contract Value. These fees are paid from the Separate Accounts. The Trustee, in its capacity as Trustee for the Fund, charges a fee for investment, administration, custodial, fund accounting, and administrative services. These fees are taken into account in setting the interest rate and are not applied to reduce the Fund s Contract Value. These fees are paid from the Separate Accounts. The Trustee may charge to the Fund or otherwise disburse from the Fund all reasonable costs and expenses incurred in the administration of the Fund, as more fully described in the Declaration of Trust and the Series Amendment (such expenses may include but are not limited to legal fees, litigation expenses, brokerage fees and audit fees). These fees would normally reduce the Fund s Contract Value and would be paid from the Separate Accounts. 04/

14 Reliance Trust Company Stable Value Fund MetLife Series Class 0 Disclosure Document Current Separate Accounts MetLife Separate Account No % Allocation: Broad Market Core Bond Account Appendix A MetLife Separate Account No % Allocation: US 1-3 Year Credit Index Class Domestic Core Fixed Income Securities Class U.S. Dollar Denominated Fixed Income Securities Investment Manager BlackRock Financial Management, Inc. Investment Manager Metropolitan Life Insurance Company Portfolio Objective To provide competitive total returns relative to the benchmark. Portfolio Objective To outperform the Benchmark. Benchmark The Barclays Capital Aggregate Bond Index is used as a benchmark over a lagged three-year basis. Benchmark Barclays U.S. 1- to 3-Year Credit Index (the Index ) Types of Investments * Quality Duration The Fund may invest in fixed-income securities such as U.S. government and agency securities, publicly traded mortgage and asset-backed securities (including CMOs), Yankee securities, public corporate debt (including Capital Securities) and cash equivalents. The Fund may also invest in Rule 144A issues. The Fund may also use futures, options, forward commitments and swaps to provide liquidity, manage portfolio duration and limit risk. The Fund weighted average quality will be A+ or higher. s which are downgraded below these ratings will be liquidated as market conditions reasonably permit. Any cash available within the Fund is invested in a high quality commingled cash management portfolio and other cash vehicles. Index duration ± 1½ years. Types of Investments Quality The Account may invest in investment grade fixed income securities consisting primarily of those included in the Index, and may also include Government and agency securities; municipal securities; corporate securities; high yield bank loans; convertible debt and preferred securities. The Account may invest in private placements including Rule 144A securities, and cash and shortterm investments including, U.S. Treasury and agency securities, certificates of deposit, commercial paper rated, and repurchase agreements. MetLife s commingled cash arrangement may be used to manage the cash position. The Account may utilize futures, forward and options for bona fide hedging and portfolio management purposes. The asset quality will maintain an average credit quality to that of the Index. Duration Index duration ± 0.25% years of the Index. 04/

15 Reliance Trust Company Stable Value Fund MetLife Series Class 0 Disclosure Document MetLife Separate Account No % Allocation: Total Return Fixed Income Account Appendix A Class Investment Manager Portfolio Objective Benchmark Types of Investments * Quality Duration U.S. Dollar and non-u.s. Dollar Denominated Fixed Income Securities Loomis, Sayles & Company, L.P. To provide long-term growth by seeking to outperform the Fund s benchmark. The Barclays Capital Aggregate Bond Index is used as a benchmark over a full market cycle. The Fund invests primarily in publicly traded fixed-income securities issued by U.S. domiciled corporations, U.S. Treasuries and Agencies and foreign issuers including convertible bonds, convertible preferred equities, warrants, asset and mortgage backed securities and cash equivalents. The Fund may also invest in forward contracts for hedging the currency risk on foreign issues. Securities in the Fund will generally maintain an average quality level of BBB or better. 9 years or less. * The Fund s assets may be invested in other MetLife separate investment accounts, provided such other accounts have the same investment description as the Separate Accounts. * The actual allocation will vary at any point in time based upon the relative performance of each Separate Account. The allocation between the Separate Accounts will be periodically rebalanced back to the percentages shown. Computation of MetLife Contract Charge [(AMPB x SAR[#] x (SA[#] / TSAMV)] + [(AMPB x SAR[#]) x (SA[#] / TSAMV)] + [continue string for additional SA(s)] = MCC SA[#] = Separate Account [#] Balance; SAR[#] = Separate Account [#] Rate; AMPB = Average Monthly Plan Contract Value; CV = Contract Value; TSAMV = Total Separate Account Market Value; MCC = Met Contract Charge The actual MetLife Contract Charge will be the sum of the portion of the Contract Charge for each Separate Account, and the total Contract Charge as a percentage will vary depending upon the relative proportions of the Contract invested in each Separate Account. SA NO. 41 SA No. 239 SA No. 725 First $10 Million.65%.85%.35% Next $15 Million.55%.75%.33% Next $25 Million.50%.70%.31% Over $50 Million.40%.65%.29% 04/

16 RELIANCE TRUST COMPANY STABLE VALUE FUND COLLECTIVE INVESTMENT TRUST DECLARATION OF TRUST (Amended and Restated Declaration of Trust adopted September 22, 2009, amended July 2, 2012) 04/01/2013

17 TABLE OF CONTENTS ARTICLE 1 DEFINITIONS... 2 ARTICLE 2 - ESTABLISHMENT OF SERIES AND CLASSES OF UNITS Establishment of Series Establishment of Classes Change in the Units Unites Credited to Participating Plan No Certificates... 3 ARTICLE 3 PARTICIPATION Conditions of Participation Admission to the Trust Other Conditions of Participation Deposits Withdrawals Distributions Upon Withdrawal Investment and Withdrawal Expenses... 4 ARTICLE 4 - INVESTMENTS AND ADMINISTRATION Investment Guidelines Temporary Net Cash Overdrafts Ownership of s Dealings with a Series Management Authority Management and Administrative Powers... 5 ARTICLE 5 - VALUATION, DIVIDENDS, ACCOUNTING, RECORDS AND REPORTS Valuation of s and Units Interest Crediting to Contract Value Suspension of Valuations and Deposit and Withdrawal Rights Accounting Rules and Fiscal Year Expenses Records, Accounts and Audits Financial Reports Judicial Accounting... 7 ARTICLE 6 - CONCERNING THE TRUSTEE Merger, Consolidation of Trustee Limitation on Liability Indemnification Trustee Compensation Trustee s Authority Reliance on Experts and Others Reliance on Communications Action by Trustee Discretion of the Trustee... 8 ARTICLE 7 - AMENDMENT AND TERMINATION Amendment Resignation of Trustee Successor Trustee Discontinuance of Investment Contract Termination Notices... 9 ARTICLE 8 - GENERAL PROVISIONS Diversion, Assignment Prohibited Governing Law Situs of Trust Inspection Titles Invalid Provisions Status of Instrument... 9 APPENDIX A MASTER TRUST AGREEMENTS... A-1 APPENDIX B INVESTMENT GUIDELINES FOR EACH SERIES... A-1 EXHIBIT A -- INVESTMENT GUIDELINES AND OBJECTIVES FOR THE SEPARATE ACCOUNTS... A-2 APPENDIX C WITHDRAWAL RULES... A-5 APPENDIX D TRUSTEE FEE SCHEDULE... A-7 04/01/2013

18 PREAMBLE RELIANCE TRUST COMPANY STABLE VALUE FUND COLLECTIVE INVESTMENT TRUST DECLARATION OF TRUST (Amended and Restated Declaration of Trust adopted September 22, 2009, amended February 17, 2010) WHEREAS, Reliance Trust Company, a Georgia trust company with its main office in Atlanta, Georgia ( Reliance ) maintains ten separate master trusts, each of which is a group trust as described in Ruling , and is maintained pursuant to the applicable master trust agreement listed on Appendix A hereto (collectively, such master trusts are referred to as the Master Trusts, and such master trust agreements are referred to as the Master Trust Agreements ). WHEREAS, each Master Trust provides a stable value investment portfolio for certain qualified retirement plans and trusts. WHEREAS, Reliance has determined to merge the ten Master Trusts into one trust, containing ten separate initial stable value investment portfolios (each defined herein as a Series ). WHEREAS, Reliance reserved the right pursuant to Section 9.3 of each Master Trust Agreement to amend the Master Trust Agreement at any time, provided that an amendment which adversely affects any plan participating in the Master Trust shall not be given effect until at least 90 days after Reliance provides the amendment to Metropolitan Life insurance Company and the Recordkeeper of each plan participating in the Master Trust. WHEREAS, Reliance has determined to amend and restate the Master Trust Agreements into a single trust agreement. NOW, THEREFORE, Reliance, as the trustee hereunder (the Trustee ) hereby amends and restates the ten Master Trust Agreements into this Declaration of Trust (the Declaration of Trust ), effective as of January 1, 2010 (the Effective Date ). Pursuant to this Declaration of Trust, the Trustee hereby merges the ten Master Trusts into one group trust effective as of the Effective Date, which is hereby designated as the Reliance Trust Company Stable Value Fund Collective Investment Trust (the Trust ). The purpose of the Trust is to provide for the collective investment and reinvestment of assets of certain tax-exempt employee benefit plans that are participating plans hereunder with the objectives and in the manner described in this Declaration of Trust. Reliance hereby establishes a separate Series within the Trust to hold the assets of each Master Trust, and may hereafter establish additional Series or merge Series in accordance with this Declaration of Trust. From time to time, in accordance with this Declaration of Trust, the Trustee may establish such separate classes (each, a Class ) of interests in each Series as it may deem necessary or desirable. This Declaration of Trust shall, as of the Effective Date, apply to all assets that Reliance held under the Master Trusts as of the Effective Date and all plans participating in the Master Trusts as of the Effective Date, and to all assets that Reliance holds in its capacity as the Trustee of the Trust after the Effective Date and all plans that participate in the Master Trust after the Effective Date. Reliance hereby declares that it shall act as the Trustee and shall hold and administer, in trust, on the terms and conditions set forth in this Declaration of Trust, all property that may be held by, transferred to, or received by it from time to time as the Trustee hereunder. It is intended that the Trust shall qualify as a group trust under Revenue Ruling , and this Declaration of Trust shall be construed and shall be administered to give effect to that intention. ARTICLE 1 DEFINITIONS 1.01 Affiliate means any general partnership, limited partnership, limited liability company, corporation, joint venture, trust, business trust, investment trust, or similar organization or entity controlling, controlled by, or under common control with the Trustee Business Day means any day which is not a Saturday, a Sunday, or a day on which the New York Stock Exchange is closed for trading of securities Class has the meaning ascribed to it in the preamble to the Declaration of Trust and in Section If the Trustee has not established more than one Class of a Series, then the Series shall be composed of one Class Code means the Internal Revenue Code of 1986, as amended from time to time. Any reference to a provision of the Code in this Declaration of Trust also shall be deemed to refer to any successor provision Contract Value means the contract value of the assets of a Class, which shall be equal to: (a) the contract value of the assets of the Class as of the Effective Date as derived from records provided by or on behalf of the Issuer, plus (b) amounts that are contributed by Participating Plans for investment in the Class pursuant to Section 3.04 after the Effective Date, plus (c) interest credited to the Class pursuant to Section 5.02, minus (d) amounts withdrawn from the Class pursuant to Section 3.06 and the amount paid or transferred from the Class pursuant to Section 7.04, but determined in each case as if the amounts withdrawn, paid or transferred were at their proportionate share of contract value, minus (e) all fees and expenses allocated to the Class pursuant to Section Declaration of Trust means this Declaration of Trust of the Reliance Trust Company Stable Value Fund Collective Investment Trust Eligible Plan means any of the following with respect to which the Trustee has been appointed to hold assets in any capacity, including, but not limited to, as trustee, investment manager, managing agent, custodian, or agent, and which the Trustee, in its sole discretion, has accepted as a Participating Plan: (a) a defined contribution retirement, pension, profit-sharing, stock bonus, or other employee benefit trust which is exempt from Federal income taxation under Section 501 (a) of the Code by reason of qualifying under Section 401(a) of the Code, but excluding any trust covering self-employed individuals within the meaning of Section 401(c)(1) of the Code, unless such trust provides evidence reasonably satisfactory to the Trustee that it satisfies the applicable requirements of the Securities Act of 1933 and Rule 180 thereunder, or any successor rule, regulation or similar pronouncement regarding participation by such plan trust in a collective investment trust; (b) any plan or governmental unit described in Section 818(a)(6) of the Code; (c) an eligible governmental plan described in Section 457(b) of the Code; or (d) 1 any common, collective, or commingled trust fund, including, but not limited to, any such fund maintained by the Trustee, which: (i) consists solely of the assets of trusts and plans described in Subsections (a) through (c), and 1 Reflects amendment to Section 1.07(d) adopted February 17, 2010, effective as of January 1, /01/