DIRECTED INVESTMENT ACCOUNT. (a) The Administrator shall establish a written procedure (the Participant Direction Procedures) under which Participants shall direct the Trustee to invest their accounts in specific assets, specific funds or other investments permitted under the Plan and the Participant Direction Procedures. A Participant shall be entitled to direct the investments of all of their accounts in accordance with the Participant Direction Procedures; provided that as soon as administratively feasible after the termination of employment of a Participant, the Trustee shall have investment authority with respect to the nonvested portion of a Participant's accounts until the earlier of a Participant's rehire or the date on which such portion is forfeited under the terms of the Plan. All amounts held in a Participant's accounts other than the nonvested portion described in the preceding sentence shall be considered a Participant's Directed Account. The Trustee shall have no discretion, control or authority with respect to a Participant's Directed Account. The Administrator hereby directs the Trustee to only invest each Participant's Directed Account in accordance with Participant directions pursuant to the Participant Direction Procedures. (b) As of each Valuation Date, all Participant Directed Accounts shall be charged or credited with the net earnings, gains, losses and expenses as well as any appreciation or depreciation in the market value using publicly listed fair market values when available or appropriate. (1) To the extent that the assets in a Participant's Directed Account are accounted for as pooled assets or investments, the allocation of earnings, gains and losses of each Participant's Directed Account shall be based upon the total amount of funds so invested, in a manner proportionate to the Participant's share of such pooled investment. (2) To the extent that the assets in the Participant's Directed Account are accounted for as segregated assets, the allocation of earnings, gains and losses from such assets shall be made on a separate and distinct basis.
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Samples: 401(k) Profit Sharing Plan and Trust Agreement (Ameritrade Holding Corp)
DIRECTED INVESTMENT ACCOUNT. (a) The Administrator shall establish a written procedure (If elected in the Participant Direction Procedures) under which Adoption Agreement, all Participants shall may direct the Trustee as to the investment of all or a portion of their individual account balances as set forth in the Adoption Agreement and within limits set by the Employer. Participants may direct the Trustee, in writing, via digital teletransmission (voice response unit or internet), by facsimile (or in such other form which is acceptable to the Trustee and the Employer), to invest their accounts in specific assets, specific funds or other investments permitted under the Plan and the Participant Direction Procedures. A Participant shall be entitled to direct the investments of all of their accounts in accordance with the Participant Direction Procedures; provided that as soon as administratively feasible after the termination of employment of a Participant, the Trustee shall have investment authority with respect to the nonvested That portion of a Participant's accounts until the earlier account of a Participant's rehire or the date on which any Participant that is subject to investment direction of such portion is forfeited under the terms of the Plan. All amounts held in a Participant's accounts other than the nonvested portion described in the preceding sentence shall Participant will be considered a Participant's Participant Directed Account. The Trustee shall have no discretion, control or authority with respect to a Participant's Directed Account. The Administrator hereby directs the Trustee to only invest each Participant's Directed Account in accordance with Participant directions pursuant to the Participant Direction Procedures.
(b) The Administrator will establish a Participant Direction Procedure, to be applied in a uniform and nondiscriminatory manner, setting forth the permissible investment options under this Section, how often changes between investments may be made, and any other limitations and provisions that the Administrator may impose on a Participant's right to direct investments.
(c) The Administrator may, in its discretion, include or exclude by amendment or other action from the Participant Direction Procedures such instructions, guidelines or policies as it deems necessary or appropriate to ensure proper administration of the Plan, and may interpret the same accordingly.
(d) As of each Valuation Date, all Participant Directed Accounts shall be charged or credited with the net earnings, gains, losses and expenses as well as any appreciation or depreciation in the market value using publicly listed fair market values when available or appropriate.appropriate as follows:
(1) To to the extent that the assets in a Participant's Participant Directed Account are accounted for as pooled assets or investments, the allocation of earnings, gains and losses of each Participant's Directed Account shall be based upon the total amount of funds so invested, invested in a manner proportionate to the Participant's share of such pooled investment.; and
(2) To to the extent that the assets in the Participant's a Participant Directed Account are accounted for as segregated assets, the allocation of earnings, gains on and losses from such assets shall be made on a separate and distinct basis.
(e) Investment directions will be processed as soon as administratively practicable after proper investment directions are received from the Participant. No guarantee is made by the Plan, Employer, Administrator or Trustee that investment directions will be processed on a daily basis, and no guarantee is made in any respect regarding the processing time of an investment direction. Notwithstanding any other provision of the Plan, the Employer, Administrator or Trustee reserves the right to not value an investment option on any given Valuation Date for any reason deemed appropriate by the Employer, Administrator or Trustee. Furthermore, the processing of any investment transaction may be delayed for any legitimate business reason (including, but not limited to, failure of systems or computer programs, failure of the means of the transmission of data, force majeure, the failure of a service provider to timely receive values or prices, and correction for errors or omissions or the errors or omissions of any service provider). The processing date of a transaction will be binding for all purposes of the Plan and considered the applicable Valuation Date for an investment transaction.
(f) If the Employer has elected in the Adoption Agreement that it intends to operate any portion of this Plan as an Act Section 404(c) plan, the Participant Direction Procedures should provide an explanation of the circumstances under which Participants and their Beneficiaries may give investment instructions, including but not limited to, the following:
(1) the conveyance of instructions by the Participants and their Beneficiaries to invest Participant Directed Accounts in a Directed Investment Option;
(2) the name, address and phone number of the Fiduciary (and, if applicable, the person or persons designated by the Fiduciary to act on its behalf) responsible for providing information to the Participant or a Beneficiary upon request relating to the Directed Investment Options;
(3) applicable restrictions on transfers to and from any Designated Investment Alternative;
(4) any restrictions on the exercise of voting, tender and similar rights related to a Directed Investment Option by the Participants or their Beneficiaries;
(5) a description of any transaction fees and expenses which affect the balances in Participant Directed Accounts in connection with the purchase or sale of a Directed Investment Option; and
(6) general procedures for the dissemination of investment and other information relating to the Designated Investment Alternatives as deemed necessary or appropriate, including but not limited to a description of the following:
(i) the investment vehicles available under the Plan, including specific information regarding any Designated Investment Alternative;
(ii) any designated Investment Managers; and
(iii) a description of the additional information that may be obtained upon request from the Fiduciary designated to provide such information.
(g) With respect to those assets in a Participant's Directed Account, the Participant or Beneficiary shall direct the Trustee with regard to any voting, tender and similar rights associated with the ownership of such assets (hereinafter referred to as the "Stock Rights") as follows based on the election made in the Adoption Agreement:
(1) each Participant or Beneficiary shall direct the Trustee to vote or otherwise exercise such Stock Rights in accordance with the provisions, conditions and terms of any such Stock Rights;
(2) such directions shall be provided to the Trustee by the Participant or Beneficiary in accordance with the procedure as established by the Administrator and the Trustee shall vote or otherwise exercise such Stock Rights with respect to which it has received directions to do so under this Section; and
(3) to the extent to which a Participant or Beneficiary does not instruct the Trustee to vote or otherwise exercise such Stock Rights, such Participants or Beneficiaries shall be deemed to have directed the Trustee that such Stock Rights remain nonvoted and unexercised.
(h) Any information regarding investments available under the Plan, to the extent not required to be described in the Participant Direction Procedures, may be provided to Participants in one or more documents (or in any other form, including, but not limited to, electronic media) which are separate from the Participant Direction Procedures and are not thereby incorporated by reference into this Plan.
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DIRECTED INVESTMENT ACCOUNT. (a) The Administrator shall establish a written procedure (If elected in the Participant Direction Procedures) under which Adoption Agreement, all Participants shall may direct the Trustee as to the investment of all or a portion of their individual account balances as set forth in the Adoption Agreement and within limits set by the Employer. Participants may direct the Trustee, in writing (or in such other form which is acceptable to the Trustee), to invest their accounts in specific assets, specific funds or other investments permitted under the Plan and the Participant Direction Procedures. A Participant shall be entitled to direct the investments of all of their accounts in accordance with the Participant Direction Procedures; provided that as soon as administratively feasible after the termination of employment of a Participant, the Trustee shall have investment authority with respect to the nonvested That portion of a Participant's accounts until the earlier account of a Participant's rehire or the date on which any Participant that is subject to investment direction of such portion is forfeited under the terms of the Plan. All amounts held in a Participant's accounts other than the nonvested portion described in the preceding sentence shall Participant will be considered a Participant's Participant Directed Account. The Trustee shall have no discretion, control or authority with respect to a Participant's Directed Account. The Administrator hereby directs the Trustee to only invest each Participant's Directed Account in accordance with Participant directions pursuant to the Participant Direction Procedures.
(b) The Administrator will establish a Participant Direction Procedure, to be applied in a uniform and nondiscriminatory manner, setting forth the permissible investment options under this Section, how often changes between investments may be made, and any other limitations and provisions that the Administrator may impose on a Participant's right to direct investments.
(c) The Administrator may, in its discretion, include or exclude by amendment or other action from the Participant Direction Procedures such instructions, guidelines or policies as it deems necessary or appropriate to ensure proper administration of the Plan, and may interpret the same accordingly.
(d) As of each Valuation Date, all Participant Directed Accounts shall be charged or credited with the net earnings, gains, losses and expenses as well as any appreciation or depreciation in the market value using publicly listed fair market values when available or appropriate.appropriate as follows:
(1) To to the extent that the assets in a Participant's Participant Directed Account are accounted for as pooled assets or investments, the allocation of earnings, gains and losses of each Participant's Directed Account shall be based upon the total amount of funds so invested, invested in a manner proportionate to the Participant's share of such pooled investment.; and
(2) To to the extent that the assets in the Participant's a Participant Directed Account are accounted for as segregated assets, the allocation of earnings, gains on and losses from such assets shall be made on a separate and distinct basis.
(e) Investment directions will be processed as soon as administratively practicable after proper investment directions are received from the Participant. No guarantee is made by the Plan, Employer, Administrator or Trustee that investment directions will be processed on a daily basis, and no guarantee is made in any respect regarding the processing time of an investment direction. Notwithstanding any other provision of the Plan, the Employer, Administrator or Trustee reserves the right to not value an investment option or any given Valuation Date for any reason deemed appropriate by the Employer, Administrator or Trustee. Furthermore, the processing of any investment transaction may be delayed for any legitimate business reason (including, but not limited to, failure of systems or computer programs, failure of the means of the transmission of data, force majeure, the failure of a service provider to timely receive values or prices, and correction for errors or omissions or the errors or omissions of any service provider). The processing date of a transaction will be binding for all purposes of the Plan and considered the applicable Valuation Date for an investment transaction.
(f) If the Employer has elected in the Adoption Agreement that it intends to operate any portion of this Plan as an Act Section 404(c) plan, the Participant Direction Procedures should provide an explanation of the circumstances under which Participants and their Beneficiaries may give investment instructions, including but not limited to, the following:
(1) the conveyance of instructions by the Participants and their Beneficiaries to invest Participant Directed Accounts in a Directed Investment Option;
(2) the name, address and phone number of the Fiduciary (and, if applicable, the person or persons designated by the Fiduciary to act on its behalf) responsible for providing information to the Participant or a Beneficiary upon request relating to the Directed Investment Options;
(3) applicable restrictions on transfers to and from any Designated Investment Alternative;
(4) any restrictions on the exercise of voting, tender and similar rights related to a Directed Investment Option by the Participants or their Beneficiaries;
(5) a description of any transaction fees and expenses which affect the balances in Participant Directed Accounts in connection with the purchase or sale of a Directed Investment Option; and
(6) general procedures for the dissemination of investment and other information relating to the Designated Investment Alternatives as deemed necessary or appropriate, including but not limited to a description of the following:
(i) the investment vehicles available under the Plan, including specific information regarding any Designated Investment Alternative;
(ii) any designated Investment Managers; and
(iii) a description of the additional information that may be obtained upon request from the Fiduciary designated to provide such information.
(g) With respect to those assets in a Participant's Directed Account, the Participant or Beneficiary shall direct the Trustee with regard to any voting, tender and similar rights associated with the ownership of such assets (hereinafter referred to as the "Stock Rights") as follows based on the election made in the Adoption Agreement:
(1) each Participant or Beneficiary shall direct the Trustee to vote or otherwise exercise such Stock Rights in accordance with the provisions, conditions and terms of any such Stock Rights;
(2) such directions shall be provided to the Trustee by the Participant or Beneficiary in accordance with the procedure as established by the Administrator and the Trustee shall vote or otherwise exercise such Stock Rights with respect to which it has received directions to do so under this Section; and
(3) to the extent to which a Participant or Beneficiary does not instruct the Trustee to vote or otherwise exercise such Stock Rights, such Participants or Beneficiaries shall be deemed to have directed the Trustee that such Stock Rights remain nonvoted and unexercised.
(h) Any information regarding investments available under the Plan, to the extent not required to be described in the Participant Direction Procedures, may be provided to Participants in one or more documents (or in any other form, including, but not limited to, electronic media) which are separate from the Participant Direction Procedures and are not thereby incorporated by reference into this Plan.
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DIRECTED INVESTMENT ACCOUNT. (a) The Administrator shall establish a written procedure (If elected in the Participant Direction Procedures) under which Adoption Agreement, except as provided below, all Participants shall may direct the Trustee investment of all or a portion of their individual account balances within limits set by the Employer. Participants may direct the Insurer (or Trustee, if applicable) in writing to invest their accounts account in specific assets, specific funds or other investments permitted under the Plan and the Participant Direction Procedures. A Participant shall be entitled to direct the investments of all of their accounts in accordance with the Participant Direction Procedures; provided that as soon as administratively feasible after the termination of employment of a Participant, the Trustee shall have investment authority with respect to the nonvested That portion of a Participant's accounts until the earlier interest of a Participant's rehire or the date on any Participant which is subject to investment direction of such portion is forfeited under the terms of the Plan. All amounts held in a Participant's accounts other than the nonvested portion described in the preceding sentence shall Participant will be considered a Participant's Participant Directed Investment Account. The Trustee shall have no discretion, control or authority with With respect to a Participants under age 18 (or the applicable age of majority), the Administrator may direct that such Participant's Directed Account. The Administrator hereby directs ’s accounts be invested in the Trustee to only invest each Participant's Directed Account in accordance with Participant directions pursuant to Designated Investment Option available under the Participant Direction ProceduresPlan that has the lowest risk of loss.
(b) As of each Valuation Date, all Participant Directed Investment Accounts shall be charged or credited with the net earnings, gains, losses and expenses as well as any appreciation or depreciation in the market value using publicly listed fair market values when available or appropriate.appropriate as follows:
(1) To the extent that the assets in a Participant's Participant Directed Investment Account are accounted for as pooled assets or investments, the allocation of earnings, gains and losses of each Participant's Directed ’s Account shall be based upon the total amount of funds so invested, in a manner proportionate to the Participant's ’s share of such pooled investment.
(2) To the extent that the assets in the Participant's Participant Directed Account are accounted for as segregated assets, the allocation of earnings, gains and losses from such assets shall be made on a separate and distinct basis.
(c) Any information regarding investments available under the Plan, to the extent not required to be described in the Participant Direction Procedures, may be provided to the Participant in one or more written documents which are separate from the Participant Direction Procedures and are not thereby incorporated by reference into this Plan.
(d) The Administrator may, at its discretion, include in or exclude by amendment or other action from the Participant Direction Procedure such instructions, guidelines or policies as it deems necessary or appropriate to ensure proper administration of the Plan, and may interpret the same accordingly.
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