Application Of ERISA Section 404( Clause Samples

Application Of ERISA Section 404( c) Unless otherwise provided in a separate Trust agreement, if elected by the Employer in the Adoption Agreement, all Participant accounts under the Plan shall be invested as elected by each Participant in a broad range of investment options made available from time to time by the Employer for this purpose. If the Employer further elects that the Plan is intended to qualify as an “ERISA Section 404(c) Plan” within the meaning of Regulations issued pursuant to such section, Participants shall have the opportunity, at least once in any three (3) month period, to give investment instructions (with an opportunity to obtain written conformation of such instructions) as to the investment of contributions made on his or her behalf among the available investment options. The Plan Administrator shall be obligated to comply with such instructions except as otherwise provided in the Regulations issued under ERISA Section 404(c). The Plan Administrator will provide or will make arrangement to provide each Participant with a description of the investment alternatives available under the Plan; and with respect to each designated investment alternative, a general description of the investments objectives, risk and return characteristics of each alternative, including information relating to the type and diversification of assets comprising the investment portfolio. The Plan Administrator by separate document may prescribe the form and the manner in which such direction shall be made, as well as the frequency with which such directions may be made or changed and the dates as of which they shall be effective, in a manner consistent with the foregoing. The Plan Administrator (or a person or entity so designated by the Employer) shall be the fiduciary identified to furnish the information as contemplated by ERISA Section 404(c), but may designate on its behalf another person or entity to provide such information or to perform any of the obligations of the Plan Administrator under this paragraph. Except as otherwise provided in this Basic Plan Document #01, the Trustee, Custodian, the Employer, or any fiduciary of the Plan shall not be liable to the Participant or any of his or her Beneficiaries for any loss resulting from action taken at the direction of the Participant. All fiduciaries of the Plan shall be relieved of their fiduciary liability with respect to the Participant directing his or her investments pursuant to ERISA Section 404(c) if elected by the Employer in the ...