Investment Control Option. If the Employer elects in the Adoption Agreement to permit Participants to direct the investment of their Accounts, each Participant may elect to have transferred to a Segregated Fund and exercise investment control by appropriate direction to the Trustee with respect to funds in the Trust Fund which do not exceed the balances in his Accounts. To the extent that the balance in the Participant's Account with respect to which a transfer is to be made includes his share of an Employer contribution which has not been received by the Trustee, such transfer shall not be made until such contribution is received by the Trustee. Funds so transferred to a Segregated Fund on behalf of the Participant shall be thereafter invested by the Trustee in such bonds, notes, debentures, commodities, mortgages, equipment trust certificates, investment trust certificates, preferred or common stocks, partnership interests, life insurance policies, including universal life insurance policies, or in such other property, real or personal (other than collectibles), wherever situated, as the Participant shall direct from time to time in writing; provided, however, that the Participant may not direct the Trustee to make loans to himself, nor to make loans to the Employer; and provided further that the Trustee may limit the investment alternatives available to the Participant in a uniform and nondiscriminatory manner but taking into account whether the interest of the Participant is fully vested and nonforfeitable. Any such election shall be made by the Participant giving notice thereof to the Trustee as the Trustee deems necessary and such notice shall specify the amount of such funds to be transferred and the Account from which the transfer is to be made. Any such election shall be at the absolute discretion of the individual Participant and shall be binding upon the Trustee. Upon any such election being made, the amount of such funds to be transferred shall be deducted from his Account as appropriate and added to a Controlled Account of the Participant. All dividends and interest thereafter received with respect to such transferred funds, as well as any appreciation or depreciation in his investments, shall be added to or deducted from his Controlled Account. If a Participant wishes to make such an election to transfer funds from the Trust Fund to a Segregated Fund as of a date other than a Valuation Date, the Trustee may defer such transfer until the next succeeding Valuation Date or, in the Trustee's discretion, make such transfer, provided that the Trustee determines that the nature of the assets in the Trust Fund is such that it is feasible and practical to make, as of the date of such transfer, the adjustments to Participants' Accounts for which provision is made in the Plan, as if such date is a Valuation Date. The Trustee shall not have any investment responsibility with respect to a Participant's Segregated Fund. In the event that a Participant elects to have any such funds transferred to a Segregated Fund and invested in particular securities or assets pursuant to this Section, the Trustee shall not be liable for any loss or damage resulting from the investment decision of the Participant. As of any Valuation Date, the Participant may elect to have all or any portion of any cash contained in his Segregated Fund transferred back to the Trust Fund, in which case such cash shall be invested by the Trustee together with other assets held in the Trust Fund. Any such election shall be made by giving notice thereof to the Trustee as the Trustee deems necessary, and the notice shall specify the amount of cash to be transferred. As of the said Valuation Date, the amount of such funds to be so transferred which is attributable to the balance in the Participant's Controlled Account shall be deducted from such Account and added to the appropriate Account of the Participant.
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Samples: Defined Contribution Plan and Trust (Capstone Pharmacy Services Inc), Adoption Agreement (Southbanc Shares Inc)
Investment Control Option. If the Employer elects in the Adoption Agreement to permit Participants to direct the investment of their Accounts, each Participant may elect to have transferred to a Segregated Fund Controlled Account and exercise investment control by appropriate direction to the Trustee with respect to funds in the Trust Fund which that do not exceed the balances in his Accounts. To the extent that the balance in the Participant's Account with respect to which a transfer is to be made includes his share of an Employer contribution which that has not been received by the Trustee, such transfer shall not be made until such contribution is received by the Trustee. Funds so transferred to a Segregated Fund Controlled Account on behalf of the Participant shall be thereafter invested by the Trustee in such bonds, notes, debentures, commodities, mortgages, equipment trust certificates, investment trust certificates, preferred or common stocks, mutual funds, partnership interests, life insurance policiesLife Insurance Policies, including universal life insurance policies, or in such other property, real or personal (other than collectibles), wherever situated, as the Participant shall direct from time to time in writing; provided, however, that the Participant may not direct the Trustee to make loans to himself, nor to make loans to the Employer; and provided further that the Trustee may limit the investment alternatives available to the Participant in a uniform and nondiscriminatory manner but taking into account whether manner. If it is the interest intent of the Participant is fully vested Employer and nonforfeitable. Any the Trustee that these investment alternatives meet the requirements of ERISA section 404(c), any such election shall be made by the Participant giving notice thereof to the Trustee as the Trustee deems necessary and such notice shall specify the amount of such funds to be transferred and the Account from which the transfer is to be made. Any such election shall be at the absolute discretion of the individual Participant and shall be binding upon the Trustee. Upon any such election being made, the amount of such funds to be transferred shall be deducted from his Account as appropriate and added to a Controlled Account of the Participant. All dividends and interest thereafter received with respect to such transferred funds, as well as any appreciation or depreciation in his investments, shall be added to or deducted from his Controlled Account. If the Employer elects to follow ERISA section 404(c), the Plan Administrator, Trustee, or other appropriate Fiduciary shall insure that the Plan provides Participants with the minimum options and information required by ERISA section 404(c) and the Regulations thereunder. If a Participant wishes to make such an election to transfer funds from the Trust Fund to a Segregated Fund Controlled Account as of a date other than a Valuation Date, the Trustee may defer such transfer until the next succeeding Valuation Date Date, or, in the Trustee's discretion, make such transfer, ; provided that the Trustee determines that the nature of the assets in the Trust Fund is such that it is feasible and practical to make, as of the date of such transfer, the adjustments to Participants' Accounts the Participant's Accounts, for which provision is made in the Plan, as if such date is a Valuation Date. The Trustee shall not have any investment responsibility with respect to a Participant's Segregated FundControlled Account. In the event that a Participant elects to have any such funds transferred to a Segregated Fund Controlled Account and invested in particular securities or assets pursuant to this Section, the Trustee shall not be liable for any loss or damage resulting from the investment decision of the Participant. As of any Valuation Date, the Participant may elect to have all or any portion of any cash contained in his Segregated Fund Controlled Account transferred back to the Trust Fund, in which case such cash shall be invested by the Trustee together with other assets held in the Trust Fund. Any such election shall be made by giving notice thereof to the Trustee as the Trustee deems necessary, and the notice shall specify the amount of cash to be transferred. As of the said Valuation Date, the amount of such funds to be so transferred which is attributable to the balance in from the Participant's Controlled Account shall be deducted from such the Controlled Account and added to the appropriate Account of the Participant.
Appears in 1 contract
Investment Control Option. If the Employer elects in the Adoption Agreement to permit Participants to direct the investment of their Accounts, each Participant may elect to have transferred to a Segregated Fund and exercise investment control by appropriate direction to the Trustee with respect to transfer funds in the Trust Fund which that do not exceed the balances in his AccountsTrustee-directed Accounts to a Controlled Account and exercise investment control of those funds by appropriate direction to the Trustee. To the extent that the balance in the Participant's Account with respect to which a transfer is funds to be made includes transferred from a Participant’s Account include his share of an Employer contribution which has Contribution or other funds that have not yet been received by the Trustee, such transfer shall not be made occur until the Trustee receives such contribution is received by the Trusteefunds. Funds so transferred to a Segregated Fund Controlled Account on behalf of the Participant shall be thereafter be invested by the Trustee in such bonds, notes, debentures, commodities, mortgages, equipment trust certificates, investment trust certificates, preferred or common stocks, partnership interests, life insurance policies, including universal life insurance policies, or in such other property, real or personal (other than collectibles), wherever situated, as the Participant shall direct from time to time in writing; provided, however, that unless policies adopted pursuant to Section 3.4.6 of the Plan permit electromechanical communications in this context. The Participant may not direct the Trustee to make distributions or loans to himself, nor to make loans to the Employer; , and provided further that the Trustee may limit the investment alternatives available to the Participant in a uniform and nondiscriminatory manner but taking into account whether the interest of the manner. A Participant is fully vested and nonforfeitable. Any shall make such election shall be made by the Participant giving notice thereof to the Trustee as the Trustee deems necessary necessary, and such notice shall specify the source and amount of such funds to be transferred and the Account from which the transfer is to be madetransferred. Any such election shall be at the absolute discretion of the individual Participant and shall be binding upon the TrusteeTrustee unless the Trustee has actual knowledge that such transaction is a prohibited transaction under the Code or the Act. Upon any such election being made, the amount of such funds to be transferred shall be deducted from his Account Trustee- directed Accounts as appropriate and added to a Controlled Account of the Participant. All dividends and interest earnings thereafter received with respect to such transferred funds, as well as any appreciation or depreciation in his investments, shall be added to or deducted from his Controlled Account. If the Employer elects to follow ERISA section 404(c), the Plan Administrator or appropriate Fiduciary shall ensure that the Plan provides Participants with the minimum options and information required by ERISA section 404(c) and the regulations thereunder. If a Participant wishes to make such an election elects to transfer funds from the Trust Fund his Trustee-directed Accounts to a Segregated Fund Controlled Account as of a date other than a Valuation Date, the Trustee may defer such transfer until the next succeeding Valuation Date or, in the Trustee's discretion, or may make such transfer, provided that the Trustee determines that the nature of the assets in the Trust Fund is are such that it is feasible and practical to make, as make such transfer. As of the date of such transfer, the adjustments to Participants' the Participant’s Accounts for which provision is shall be made in the Plan, as if such date is a Valuation Date. As of any Valuation Date, the Participant may elect to have all or any portion of any cash contained in his Controlled Account transferred back to the general assets of the Trust Fund, in which case the Trustee shall again invest such cash as part of the general assets of the Trust Fund. A Participant shall make such election by giving notice to the Trustee, in the manner that the Trustee deems necessary, and the notice shall specify the amount of cash to be transferred. The amount of such funds so transferred shall be deducted from the Participant’s Controlled Account and added to the appropriate Account of the Participant. Any such election shall be at the absolute discretion of the individual Participant and shall be binding upon the Trustee. The Trustee shall not have any investment responsibility with respect to a Participant's Segregated Fund’s Controlled Account. In the event that a Participant elects to have any such funds transferred to a Segregated Fund Controlled Account and invested in particular securities or assets pursuant to this Section, the Trustee shall not be liable for any loss or damage resulting from the investment decision of the Participant. As of any Valuation Date, the Participant may elect to have all or any portion of any cash contained in his Segregated Fund transferred back to the Trust Fund, in which case such cash shall be invested by the Trustee together with other assets held in the Trust Fund. Any such election shall be made by giving notice thereof to the Trustee as the Trustee deems necessary, and the notice shall specify the amount of cash to be transferred. As of the said Valuation Date, the amount of such funds to be so transferred which is attributable to the balance in the Participant's Controlled Account shall be deducted from such Account and added to the appropriate Account of the Participant.
Appears in 1 contract
Investment Control Option. If the Employer elects in the Adoption Agreement to permit Participants to direct the investment of their Accounts, each Participant may elect to have transferred to a Segregated Fund and exercise investment control by appropriate direction to the Trustee with respect to funds in the Trust Fund which do not exceed the balances in his Accounts. To the extent that the balance in the Participant's Account with respect to which a transfer is to be made includes his share of an Employer contribution which has not been received by the Trustee, such transfer shall not be made until such contribution is received by the Trustee. Funds so transferred to a Segregated Fund on behalf of the Participant shall be thereafter invested by the Trustee in such bonds, notes, debentures, commodities, mortgages, equipment trust certificates, investment trust certificates, preferred or common stocks, partnership interests, life insurance policies, including universal life insurance policies, or in such other property, real or personal (other than collectibles), wherever situated, as the Participant shall direct from time to time in writing; provided, however, that the Participant may not direct the Trustee to make loans to himself, nor to make loans to the Employer; and provided further that the Trustee may limit the investment alternatives available to the Participant in a uniform and nondiscriminatory manner but taking into account whether the interest of the Participant is fully vested and nonforfeitable. Any such election shall be made by the Participant giving notice thereof to the Trustee as the Trustee deems necessary and such notice shall specify the amount of such funds to be transferred and the Account from which the transfer is to be made. Any such election shall be at the absolute discretion of the individual Participant and shall be binding upon the Trustee. Upon any such election being made, the amount of such funds to be transferred shall be deducted from his Account as appropriate and added to a Controlled Account of the Participant. All dividends and interest thereafter received with respect to such transferred funds, as well as any appreciation or depreciation in his investments, shall be added to or deducted from his Controlled Account. If a Participant wishes to make such an election to transfer funds from the Trust Fund to a Segregated Fund as of a date other than a Valuation Date, the Trustee may defer such transfer until the next succeeding Valuation Date or, in the Trustee's discretion, make such transfer, provided that the Trustee determines that the nature of the assets in the Trust Fund is such that it is feasible and practical to make, as of the date of such transfer, the adjustments to Participants' Accounts for which provision is made in the Plan, as if such date is a Valuation Date. The Trustee shall not have any investment responsibility with respect to a Participant's Segregated Fund. In the event that a Participant elects to have any such funds transferred to a Segregated Fund and invested in particular securities or assets pursuant to this Section, the Trustee shall not be liable for any loss or damage resulting from the investment decision of the Participant. As of any Valuation Date, the Participant may elect to have all or any portion of any cash contained in his Segregated Fund transferred back to the Trust Fund, in which case such cash shall be invested by the Trustee together with other assets held in the Trust Fund. Any such election shall be made by giving notice thereof to the Trustee as the Trustee deems necessary, and the notice shall specify the amount of cash to be transferred. As of the said Valuation Date, the amount of such funds to be so transferred which is attributable to the balance in the Participant's Controlled Account shall be deducted from such Account and added to the appropriate Account of the Participant.. 75 108
Appears in 1 contract
Samples: Adoption Agreement (Jones Medical Industries Inc /De/)
