Limit on Competing Funds Clause Samples

Limit on Competing Funds. Unless transferred during and pursuant to a plan-level transition to a replacement fund, Participant Withdrawals from the Plan GFIF cannot be transferred directly or indirectly to a Competing Fund without first being invested in a non-Competing Fund for ninety (90) days. (1) is a fund that seeks to maintain a stable value per unit or to maintain preservation of principal (e.g., stable value fund, money market fund, or cash equivalent fund); or (2) is an allocation or fixed income fund that has a target duration of three (3) years or less. Investment options that allow access to other investment options or funds that have the same preceding characteristics (e.g., brokerage accounts) are also deemed a Competing Fund unless AdvisorTrust provides consent in Written Notice to the contrary. AdvisorTrust has discretion in determining whether a particular investment option is a Competing Fund and will assist Plan Administrator, upon request, in designating Plan investment options as Competing Funds.