Crediting Investment Experience. The Plan shall allow Participant-directed investing commencing as of April 1, 2006. Participant-directed investing shall be voluntary and elective for the remainder of 2006, but shall be mandatory for all Participants beginning January 1, 2007. Participants who elect to direct the investment of their Accounts in accordance with Section 5.3 below shall have the net deemed investment experience of their Account from April 1 through December 31, 2006 credited to or debited from this Account, as the case may be, on a daily basis. Those Participants shall also have interest on their March 31, 2006 Account balances respectively credited to their Accounts as of December 31, 2006 in the amount of one-quarter of the 5.25% annual fixed rate of return in effect through March 31, 2006 for all Participant Accounts. This interest credit shall be calculated on the prior Plan Year-end Account balance plus 2006 contributions credited to the Participant’s Account for the period through March 31, 2006 as if those contributions were made and credited in full as of January 1, 2006. Participants who choose to remain under the Plan’s fixed income investment formula for all of 2006 will have income equal to a 5.25% annualized interest rate credited to their respective Accounts as of December 31, 2006. The fixed income credits under this paragraph shall be calculated on a principal amount equal to the sum of the Participant’s December 31, 2005 Account balance plus all the Participant’s 2006 deferral contributions made to this Plan as if those contributions were made and credited in full as of January 1, 2006. Beginning with the 2007 Plan Year, all Participants shall direct the investment of their Accounts. Deemed investment experience (including unrealized appreciation or depreciation in the value of the Account’s share of each available investment fund) shall be credited daily to the Participant’s Account based on the Account balance, adjusted as provided under this Article V, including for contribution credits and distribution debits as made.
Crediting Investment Experience. As of each Valuation Date (before crediting any contributions or making any investment transfers as of such date), Investment Fund management expenses not paid directly by the Employer, investment income and gains and losses in asset values in each separate Investment Fund since the preceding Valuation Date will be credited or charged to Participants' Accounts invested in such fund. The allocation of Investment Fund management expenses and investment results will be in proportion to the adjusted account balances in such fund as of each Valuation Date. The adjusted account balance of an Account is the amount in such Account as of the close of business on the preceding Valuation Date, increased by any Savings Contributions, Company Matching Contributions and loan repayments credited to such Account as of the current Valuation Date under Article VI and Article VIII, decreased by any withdrawals or distributions from such Account since the preceding Valuation Date, and increased or decreased in accordance with uniform rules established by the Plan Administrator to allocate equitable expenses and investment results.
