Common use of Investment of Plan Assets Clause in Contracts

Investment of Plan Assets. The Plan Sponsor, and not MassMutual, is responsible for the investment of plan assets. Plan assets are invested in mutual funds, collective trusts, insurance company general and separate accounts, other pooled investment vehicles or other investments, selected by the Plan Sponsor as described in Exhibit C (“Investment Options”). The Plan Sponsor and/or the participants direct the investment of plan assets among these Investment Options as indicated in Exhibit C. The Plan Sponsor may amend its selections on Exhibit C at any time by providing MassMutual at least sixty (60) days advance written notice. MassMutual cannot accept any change it is unable to administer. If the Plan's assets are invested through a group annuity contract issued by MassMutual, the Plan Sponsor acknowledges and agrees that MassMutual has established Investment Options that it makes available to plan sponsors through the contract and that the contract allows MassMutual to reinvest the underlying assets of, or discontinue, the available Investment Options subject to certain conditions. If MassMutual makes a change to an Investment Option selected by the Plan Sponsor on Exhibit C, then unless the change is required by events beyond MassMutual's reasonable control, MassMutual will provide the Plan Sponsor advance written notice of such change and an opportunity to select other Investment Options available under the group annuity contract. If MassMutual notifies the Plan Sponsor of the discontinuance of an Investment Option and the Plan Sponsor fails to select a replacement Investment Option before the effective date of the change, any plan assets invested in the discontinued Investment Option will be transferred to the Plan’s default option. The Plan Sponsor directs MassMutual to treat any change to the Plan's Investment Options approved by the Plan Sponsor under the conditions set forth in the group annuity contract or this Agreement, as an amendment to Exhibit C. If the Plan's assets are held in trust and invested directly in mutual funds, the Plan Sponsor acknowledges and agrees that MassMutual has established a "menu" of Investment Options that it makes available to plan sponsors. MassMutual determines its menu of Investment Options based on its administrative and business agreements with the managers and distributors of such Investment Options. MassMutual may change its menu of available Investment Options from time to time. If MassMutual makes a change to its menu that will affect the Investment Options selected by the Plan Sponsor on Exhibit C, then unless the change is required by events beyond MassMutual's reasonable control, MassMutual will provide the Plan Sponsor with advance written notice of such change, typically at least sixty (60) days in advance of the effective date, including an explanation of the reason for, and the effective date of, the change. If the change is required by events beyond MassMutual's reasonable control, MassMutual is not required to provide sixty (60) days notice, but will provide notice as soon as practicable. If an Investment Option is deleted, MassMutual may include in its notice a proposed substitute. The Plan Sponsor agrees that, in the case of such notice of change to Investment Options available to the Plan, the Plan Sponsor may select a replacement Investment Option for the deleted Investment Option but if the Plan Sponsor fails to notify MassMutual in writing before the effective date of the change that the Plan Sponsor rejects the proposed change selecting a replacement Investment Option, then such failure constitutes the Plan Sponsor's approval of the change. If the Plan Sponsor rejects a proposed change to the mutual funds available to the Plan but the Plan Sponsor does not affirmatively select a replacement Investment Option or terminate this Agreement before the change becomes effective, any plan assets invested in the deleted Investment Option will be transferred to the Plan’s default option. The Plan Sponsor directs MassMutual to treat any change to the Plan's Investment Options under the conditions set forth in this Agreement as an amendment to Exhibit C.

Investment of Plan Assets. The Plan SponsorSponsor or its designee, and not MassMutual, is responsible for the investment of plan assets. Plan assets are invested in mutual funds, collective trustsinvestment trust funds, insurance company general and separate accounts, other pooled investment vehicles or other investments, selected by the Plan Sponsor or its designee as described in Exhibit C (“Investment Options”). The Plan Sponsor or its designee and/or the participants direct the investment of plan assets among these Investment Options as indicated in Exhibit C. The Plan Sponsor or its designee may amend its selections on in Exhibit C at any time by providing MassMutual at least sixty (60) days advance written notice. MassMutual cannot accept any change it is unable to administer. If the Plan's assets are invested either exclusively or in part through a group annuity contract issued by MassMutual, the Plan Sponsor acknowledges and agrees that MassMutual has established Investment Options that it makes available to plan sponsors through the contract and that the contract allows MassMutual to add, reinvest the underlying assets of, or discontinue, the available Investment Options subject to certain conditions. If MassMutual makes a change to adds an Investment Option selected by to, or removes an Investment Option from the Investment Options available under the group annuity contract, MassMutual will post a notice titled Separate Investment Account Additions and Removals on the plan sponsor website at xxxxx://xxxxxx.xxxxxxxxxx.xxx/trc2/public/login.aspx under the ‘Actions and Alerts’ section. MassMutual will also post on the same plan sponsor website and location a notice titled Menu of Available Investment Options for each Investment Option MassMutual makes available under a group annuity contract or funding agreement that discloses the expense ratio for the investment option and the revenue, if any, paid to MassMutual from the investment option, including disclosure of those investment options that make no revenue sharing payments to MassMutual. Notwithstanding any provision in the Plan Sponsor’s group annuity contract or group funding agreement (the “Group Contract”), MassMutual will not delete, change or replace any investment option the Plan Sponsor on Exhibit Chas selected to be part of the Plan’s menu of investment options (including share classes of a given plan investment option) without: (1) providing the Plan Sponsor with sixty days’ written notice, then unless and (2) obtaining the Plan Sponsor’s consent to the proposed change, subject to the qualification that MassMutual can remove an investment option from the Plan’s menu of investment options if the investment option is no longer available through merger or otherwise and further provided that the Plan Sponsor’s failure to object will be treated as consent to the proposed change. If the Plan Sponsor affirmatively rejects the proposed change and MassMutual ultimately implements the change, the Plan Sponsor has the right to terminate the Group Contract without application of a surrender charge or similar charge (a “penalty”) and the Plan Sponsor will be provided with an additional sixty days from the effective date of the change to identify an alternative service provider. These conditions only apply to changes to plan investment options initiated by MassMutual. Any plan investment option changes initiated by an investment provider other than MassMutual will be administered as follows. Unless the change is required by events beyond MassMutual's reasonable control, MassMutual will provide the Plan Sponsor with advance written notice of such change, typically sixty (60) days in advance of the effective date, including an explanation of the reason for, and the effective date of, the change and an opportunity to select other Investment Options available under the group annuity contract. If the change is required by events beyond MassMutual’s reasonable control, MassMutual is not required to provide sixty (60) days-notice, but will provide notice as soon as practicable. For administrative purposes, MassMutual may communicate and process changes to the Plan’s Investment Options prior to the effective date of the change. If MassMutual notifies the Plan Sponsor of the discontinuance of an Investment Option and the Plan Sponsor fails to select a replacement Investment Option before the effective date of the changerequested response date, any plan assets invested in the discontinued Investment Option will be transferred to the Plan’s default optionParticipant Default Investment Option. The Plan Sponsor directs MassMutual to treat any change to the Plan's Investment Options approved by the Plan Sponsor under the conditions set forth in the group annuity contract or this Agreement, as an amendment to Exhibit C. If the Plan's assets are held in trust and invested directly in mutual fundsAs a result of entering into a contractual relationship with MassMutual through a Group Contract, the Plan Sponsor acknowledges is directing MassMutual to reinvest any mutual fund dividends or capital gains distributions payable on the shares of any mutual fund in which a separate account invests in the form of additional shares, if available, and agrees that MassMutual has established a "menu" of Investment Options that it makes available credit to plan sponsors. MassMutual determines its menu of Investment Options based on its administrative contract value the dividends and business agreements with the managers and distributors of such Investment Options. MassMutual may change its menu of available Investment Options from time to time. If MassMutual makes a change to its menu that will affect the Investment Options selected by the Plan Sponsor on Exhibit C, then unless the change is required by events beyond MassMutual's reasonable control, MassMutual will provide the Plan Sponsor with advance written notice of such change, typically at least sixty (60) days in advance distributions either as part of the effective dateseparate account accumulation unit value, including an explanation of the reason for, and the effective date ofor as additional accumulation units. By purchasing this Group Contract, the change. If the change is required by events beyond MassMutual's reasonable controlauthorized plan representative hereby instructs that all such dividends and capital gains distributions be paid and credited as described above, MassMutual is not required to provide sixty (60) days notice, but will provide notice so long as soon as practicable. If an Investment Option is deleted, MassMutual may include in its notice a proposed substitute. The Plan Sponsor agrees that, in the case of such notice of change to Investment Options available to the Plan, the Plan Sponsor may select a replacement Investment Option for the deleted Investment Option but if the Plan Sponsor fails to notify MassMutual in writing before the effective date of the change that the Plan Sponsor rejects the proposed change selecting a replacement Investment Option, then such failure constitutes the Plan Sponsor's approval of the change. If the Plan Sponsor rejects a proposed change to the mutual funds available to the Plan but the Plan Sponsor does not affirmatively select a replacement Investment Option or terminate this Agreement before the change becomes effective, any plan assets invested in the deleted Investment Option will be transferred to the Plan’s default option. The Plan Sponsor directs MassMutual to treat any change to the Plan's Investment Options under the conditions set forth in this Agreement as an amendment to Exhibit C.available.

Investment of Plan Assets. The Plan SponsorSponsor or its designee, and not MassMutual, is responsible for the investment of plan assets. Plan assets are invested in mutual funds, collective trusts, insurance company general and separate accounts, other pooled investment vehicles or other investments, selected by the Plan Sponsor or its designee as described in Exhibit C (“Investment Options”). The Plan Sponsor or its designee and/or the participants direct the investment of plan assets among these Investment Options as indicated in Exhibit C. The Plan Sponsor or its designee may amend its selections on Exhibit C at any time by providing MassMutual at least sixty (60) days advance written notice. MassMutual cannot accept any change it is unable to administer. If the Plan's assets are invested through a group annuity contract issued by MassMutual, the Plan Sponsor acknowledges and agrees that MassMutual has established Investment Options that it makes available to plan sponsors through the contract and that the contract allows MassMutual to reinvest the underlying assets of, or discontinue, the available Investment Options subject to certain conditions. If MassMutual makes a change to an Investment Option selected by the Plan Sponsor on Exhibit C, then unless the change is required by events beyond MassMutual's reasonable control, MassMutual will provide the Plan Sponsor with advance written notice of such change, typically sixty (60) days in advance of the effective date, including an explanation of the reason for, and the effective date of, the change and an opportunity to select other Investment Options available under the group annuity contract. If the change is required by events beyond MassMutual’s reasonable control, MassMutual is not required to provide sixty (60) days notice, but will provide notice as soon as practicable. For administrative purposes, MassMutual may communicate and process changes to the Plan’s investment option’s prior to the effective date of the change. If MassMutual notifies the Plan Sponsor of the discontinuance of an Investment Option and the Plan Sponsor fails to select a replacement Investment Option before the effective date of the changerequested response date, any plan assets invested in the discontinued Investment Option will be transferred to the Plan’s default optionParticipant Default Investment Option. The Plan Sponsor directs MassMutual to treat any change to the Plan's Investment Options approved by the Plan Sponsor under the conditions set forth in the group annuity contract or this Agreement, as an amendment to Exhibit C. If the Plan's assets are held in trust and invested directly in mutual funds, the Plan Sponsor acknowledges and agrees that MassMutual has established a "menu" of Investment Options that it makes available to plan sponsors. MassMutual determines its menu of Investment Options based on its administrative and business agreements with the managers and distributors of such Investment Options. MassMutual may change its menu of available Investment Options from time to time. If MassMutual makes a change to its menu that will affect the Investment Options selected by the Plan Sponsor on Exhibit C, then unless the change is required by events beyond MassMutual's reasonable control, MassMutual will provide the Plan Sponsor with advance written notice of such change, typically at least sixty (60) days in advance of the effective date, including an explanation of the reason for, and the effective date of, the change. If the change is required by events beyond MassMutual's reasonable control, MassMutual is not required to provide sixty (60) days notice, but will provide notice as soon as practicable. If an Investment Option is deleted, MassMutual may include in its notice a proposed substitute. The Plan Sponsor agrees that, in the case of such notice of change to Investment Options available to the Plan, the Plan Sponsor may select a replacement Investment Option for the deleted Investment Option but if the Plan Sponsor fails to notify MassMutual in writing before the effective date of the change that the Plan Sponsor rejects the proposed change selecting a replacement Investment Option, then such failure constitutes the Plan Sponsor's approval of the change. If the Plan Sponsor rejects a proposed change to the mutual funds available to the Plan but the Plan Sponsor does not affirmatively select a replacement Investment Option or terminate this Agreement before the change becomes effective, any plan assets invested in the deleted Investment Option will be transferred to the Plan’s default option. The Plan Sponsor directs MassMutual to treat any change to the Plan's Investment Options under the conditions set forth in this Agreement as an amendment to Exhibit C.

Investment of Plan Assets. The Plan SponsorSponsor or its designee, and not MassMutual, is responsible for the investment of plan assets. Plan assets are invested in mutual funds, collective trusts, insurance company general and separate accounts, other pooled investment vehicles or other investments, selected by the Plan Sponsor or its designee as described in Exhibit C (“Investment Options”). The Plan Sponsor or its designee and/or the participants direct the investment of plan assets among these Investment Options as indicated in Exhibit C. The Plan Sponsor or its designee may amend its selections on Exhibit C at any time by providing MassMutual at least sixty (60) days advance written notice. MassMutual cannot accept any change it is unable to administer. If the Plan's assets are invested through a group annuity contract issued by MassMutual, the Plan Sponsor acknowledges and agrees that MassMutual has established Investment Options that it makes available to plan sponsors through the contract and that the contract allows MassMutual to reinvest the underlying assets of, or discontinue, the available Investment Options subject to certain conditions. If MassMutual makes a change to an Investment Option selected by the Plan Sponsor on Exhibit C, then unless the change is required by events beyond MassMutual's reasonable control, MassMutual will provide the Plan Sponsor advance written notice of such change and an opportunity to select other Investment Options available under the group annuity contract. If MassMutual notifies the Plan Sponsor of the discontinuance of an Investment Option and the Plan Sponsor fails to select a replacement Investment Option before the effective date of the change, any plan assets invested in the discontinued Investment Option will be transferred to the Plan’s default option. The Plan Sponsor directs MassMutual to treat any change to the Plan's Investment Options approved by the Plan Sponsor under the conditions set forth in the group annuity contract or this Agreement, as an amendment to Exhibit C. If the Plan's assets are held in trust and invested directly in mutual funds, the Plan Sponsor acknowledges and agrees that MassMutual has established a "menu" of Investment Options that it makes available to plan sponsors. MassMutual determines its menu of Investment Options based on its administrative and business agreements with the managers and distributors of such Investment Options. MassMutual may change its menu of available Investment Options from time to time. If MassMutual makes a change to its menu that will affect the Investment Options selected by the Plan Sponsor on Exhibit C, then unless the change is required by events beyond MassMutual's reasonable control, MassMutual will provide the Plan Sponsor with advance written notice of such change, typically at least sixty (60) days in advance of the effective date, including an explanation of the reason for, and the effective date of, the change. If the change is required by events beyond MassMutual's reasonable control, MassMutual is not required to provide sixty (60) days notice, but will provide notice as soon as practicable. For administrative purposes, MassMutual may communicate and process changes to the Plan’s investment option’s prior to the effective date of the change. If an Investment Option is deleted, MassMutual may include in its notice a proposed substitute. The Plan Sponsor agrees that, in the case of such notice of change to Investment Options available to the Plan, the Plan Sponsor may select a replacement Investment Option for the deleted Investment Option but if the Plan Sponsor fails to notify MassMutual in writing before the effective date of requested response time in the change communication that the Plan Sponsor rejects elects the proposed change selecting replacement Investment Option, and fails to elect a different replacement Investment Option, then such failure constitutes any plan assets invested in the Plan Sponsor's approval of discontinued Investment Option will be transferred to the changeParticipant Default Investment Option. If the Plan Sponsor rejects a proposed change to the mutual funds available to the Plan but the Plan Sponsor does not affirmatively select a replacement Investment Option or terminate this Agreement before the change becomes effectiverequested response time, any plan assets invested in the deleted Investment Option will be transferred to the Plan’s default optionParticipant Default Investment Option. The Plan Sponsor directs MassMutual to treat any change to the Plan's Investment Options under the conditions set forth in this Agreement as an amendment to Exhibit C.