The selected firm will be responsible for providing comprehensive trust account management services, including but not limited to: A. Account administration and maintenance. B. Compliance with relevant laws and regulations, including those approved by our Band Assembly governing Minor Trust accounts. C. Reporting and communication with trustees, guardians, and legal representatives. D. Communicate with our Enrollments office to ensure accurate monthly updates to tribal member enrollment data and indicative data. E. Maintain an ongoing accounting of total trust balances, as well as individual account balances of tribal members. F. Administer, including rebalancing and moving individual accounts along the MLBO-provided glidepath utilizing the aggregate pooled investment structure. G. Develop a communication plan to inform and update tribal members of account status, using statements, internet access, or call center. H. Generate and disburse payment checks to tribal members in accordance with established disbursement policy. I. Provide tax notice and compliance with Internal Revenue Service and Social Security Administration as appropriate to comply with federal laws. J. Develop processes and procedures for situations which may result in non-delivery of a disbursement check to, or non-receipt of a disbursement check by, a tribal member. K. Provide education on financial/investment literacy for minors and guardians.
