The Contractor shall provide administration, accounting and reporting for the Plan, which shall include: A. Supervision of the trust accounting and benefit administration for the Plan covering fiscal years 2025/26, 2026/27 and 2027/28. B. Administration: 1. Review of boxers’ fight records, including number of rounds fought and purse activity. 2. Determine eligibility of each boxer to see if he/she is eligible to receive a contribution for the calendar year, pursuant to Title 4, California Code of Regulations (CCR) Section 402. 3. Determine which boxers sustained a Break in Service (BIS) during the year pursuant to CCR §401(g). 4. Determine if boxer is covered (vested) pursuant to CCR §405. 5. Determine forfeitures to be allocated (boxers who sustain a BIS forfeit their account balance). Forfeitures are processed pursuant to CCR §403(c), §404(c), and §405(d). 6. Determine contributions to be allocated to participants pursuant to CCR §403. 7. Allocate trust account earnings (trust investment earnings and plan-related fees are allocated proportionately to the eligible boxer’s account at the end of the prior plan year, less current year distributions) pursuant to CCR §404. Earnings consist of the following components: a. Unrealized gains b. Realized gains c. Dividends and interest d. Fees and expenses (charged against earnings). 8. Allocate contributions and forfeitures of refund and regular accounts to those boxers eligible to receive them pursuant to CCR §403 and CCR §404. 9. Determine if boxer is eligible for a distribution of benefits (applies to covered boxers only) pursuant to CCR §406. Enter and review entry of distributions paid to boxers from refund or regular accounts. Provide to the CSAC a list of those participants and their benefits due. Once benefits are paid by the CSAC provide Form 1099R to the participant for tax reporting purposes. 10. Provide advice to the CSAC pertaining to the review, approval or denial process for boxers filing applications for pension benefits.
