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| Investment Advisory, Operational and Distributor Services |
| PMA Asset Management, LLC., PMA Financial Network, LLC. and PMA Securities, LLC. serve as the Investment Advisor, Operational Manger and Distributor to FL SAFE, respectively. PMA Asset Management, LLC., PMA Financial Network, LLC. and PMA Securities, LLC. operate under common ownership and are referred to collectively as "PMA". Duties include: |
| Investment Advisor - Portfolio Management Duties - PMA Asset Management, LLC. |
- Portfolio allocation and criteria development
- Daily cash flow management
- Security transaction selection/execution
- Monitoring fixed income markets
- Prepare and monitor approved list of securities-Trust Investment Policy
- Monitor and recommend updates to FL SAFE’s Investment Policy
- Quarterly evaluation of the investment performance of FL SAFE to Board
- Maintain and develop policies and procedures for Investment Advisor functions
- Support Trust Sales & Marketing Plan in cooperation with Administrator
- Manage annual rating agency review, provide rating agency required reports
- Assist with participant and prospect investment and
educational seminars
- Provide monthly economic update to Administrator for Trust newsletter and
website
- Maintain accurate records concerning its services hereunder as required under the securities laws
- Other duties as directed by Board and standard for Industry as Investment Advisor
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| Operational Manager - Accounting and Operations Duties - PMA Financial Network,
LLC. |
- Management of PMA operations staff working on FL SAFE matters
- Maintain and update fund accounting system
- Maintenance of accounting software
- Review and approve daily fund accounting report
- Prepare unaudited quarterly account statements for FL SAFE Board's review and approval
- Determine and allocate income of FL SAFE, including the monthly budgeted expenses of the Trust
- Maintain separate accounts for each Participant
- Record individual transactions and totals of all investments
- Serve as registrar for FL SAFE
- Arrange for the redemption of shares by Participants
- Manage FL SAFE's expenses and budgeting in cooperation with Board and Administrator
- Assist in preparation of audit, as needed, supplying information, addressing
auditor’s questions
- Maintain Participant recordkeeping
- Open and close Participant accounts in cooperation with administrator
- Participant transaction processing
- Post monthly statements of Participant
- Provide written confirmation of investment and withdrawal of funds to Participants
- Support with participant Q&A and participant customer service in cooperation with Administrator
- Other duties as directed by Board and standard for
industry as Operational Manger
- Website management duties: Marketing and transactional websites (FMAS will have direct access) and FundLink website for Board communications (FMAS and Board Trustees will have direct access)
- Daily participant calculation balance
- Daily information updates
- Business continuity, including website back-up and
disaster recovery plan
- Manage and arrange website
- Other duties as directed by Board and standard for industry for LGIP Website Manager
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| Distribution Duties - PMA Securities, LLC. |
- Management and compliance of PMA distribution staff marketing
for FL SAFE
- Market FL SAFE and its programs and services to eligible participants
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| Administrative Services |
| Florida Management and Administrative Services, LLC provides administrative service to FL SAFE Participants. These duties include: |
- Arranging and managing the annual audit of FL SAFE
- Organizing quarterly board meetings per Florida Statutes
- Securing surety and other bonds, and insurance necessary to protect FL SAFE
- Developing and implementing FL SAFE sales and marketing plan
- Providing Participant and potential Participant seminars
- Maintaining Board elections per indenture
- Assist with FIIP and Term Series administrative and oversight
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