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effect the disbursement within one hundred twenty (120) days. The <br /> amount to be disbursed shall be the amount in the Employer's Prefunding <br /> Account as of the disbursement date and shall include investment <br /> earnings up to the investment earnings allocation date immediately <br /> preceding the disbursement date. In no event shall the investment <br /> earnings allocation date precede the disbursement by more than 120 <br /> days. <br /> (6) After Employer's participation in the Prefunding Plan terminates and at such time <br /> that no assets remain in Employer's Prefunding Account, this Agreement shall <br /> terminate. <br /> (7) If, for any reason, the Board terminates the Prefunding Plan, the assets in <br /> Employer's Prefunding Account shall be paid to Employer after retention of (i) amounts <br /> sufficient to pay post employment health care benefits and other post employment <br /> benefits to annuitants for current and future annuitants described by the employer's <br /> current substantive plan (as defined in GASB 43), and (ii) amounts sufficient to pay <br /> reasonable administrative costs of the Board. <br /> (8) If Employer ceases to exist but Employer's Prefunding Plan continues to exist and if <br /> no provision has been made by Employer for ongoing payments to pay post <br /> employment health care benefits and other post employment benefits to annuitants for <br /> current and future annuitants, the Board is authorized to and shall appoint a third party <br /> administrator to carry out Employer's Prefunding Plan. Any and all costs associated <br /> with such appointment shall be paid from the assets attributable to contributions by <br /> Employer. <br /> (9) If Employer should breach the representation and warranty set forth in Paragraph <br /> A., the Board shall take whatever action it deems necessary to preserve the tax - exempt <br /> status of the Prefunding Plan. <br /> I. General Provisions <br /> (1) Books and Records. <br /> Employer shall keep accurate books and records connected with the performance of <br /> this Agreement. Employer shall ensure that books and records of subcontractors, <br /> suppliers, and other providers shall also be accurately maintained. Such books and <br /> records shall be kept in a secure location at the Employer's office(s) and shall be <br /> available for inspection and copying by CaIPERS and its representatives. <br /> (2) Audit. <br /> (a) During and for three years after the term of this Agreement, Employer <br /> shall permit the Bureau of State Audits, CaIPERS, and its authorized <br /> representatives, and such consultants and specialists as needed, at all <br /> Rev 6/23/2010 7 <br />