Participant Direction of Investments. Part A. Authorization: Will Participants be permitted to direct the investment of their Plan assets pursuant to Section 5.14 of the Plan? (Choose one) Option 1: [X] Yes.
Participant Direction of Investments. A Participant may elect to have one percent (1%), or any multiple thereof up to one hundred percent (100%), of such Participant's Aggregate Account invested in any investment fund established hereunder. Such election shall apply to the existing Aggregate Account balance and future contributions made by or on behalf of such Participant. To the extent a Participant fails to direct the investment of all or any portion of his Aggregate Account and future contributions, they shall be invested in the investment fund or funds selected by the Trustee. Upon a Participant's termination of employment or cessation of participation for any reason, such Participant (or Beneficiary, in the case of the Participant's death) shall continue to have the right to direct the investment of his Aggregate Account until such time as he receives a distribution hereunder. A Participant may change his designation of the manner for investment of his Aggregate Account to any other manner permitted under this Section, provided that (i) the change must be made on a form prescribed by the Committee, or, if a telephone voice response system is available, the change may be made by using the telephone voice response system, (ii) the change shall become effective no later than the business day next following (a) the date the change is received by the Trustee, in the case of a written change, or (b) the date the change is made using the telephone voice response system, and (iii) the change shall be applicable to the Participant's existing Aggregate Account and to contributions made after the application for change shall have become effective. In order to comply with applicable federal or state securities laws, the Committee may establish such rules with respect to the change of investment designation by Participants as it shall deem necessary or advisable to prevent possible violations of such laws.
Participant Direction of Investments. All Participant accounts shall be invested as hereinafter provided:
Participant Direction of Investments. If permissible under the Plan, each participant and/or beneficiary may have investment power over the account maintained for him or her, and may direct the investment and reinvestment of assets of the account among the options authorized by the Administrator. Such direction shall be furnished to the Trustee in writing under procedures agreed to by the Trustee and the Administrator. To the extent provided under ERISA section 404(c), the Trustee shall not be liable for any loss, or by reason of any breach, which results from such participant’s or beneficiary’s exercise of control. If a participant who has investment authority under the terms of the Plan fails to provide such directions, the Administrator shall direct the investment of the participant’s accounts. The Administrator shall maintain records showing the interest of each participant and/or beneficiary in the Trust Fund unless the Trustee enters into an agreement with the Company to keep separate accounts for each such participant and/or beneficiary. The Trustee shall have no duty or responsibility to review or make recommendations regarding investments made at the direction of the Administrator or participant and shall be required to act only upon receipt of proper written directions. A participant or beneficiary shall not have authority to direct the investment of assets in his or her account in a loan to any participant, including himself or herself, or “collectibles” within the meaning of Code section 408(m)(2). For Plans that permit a participant to direct the investment of his or her account assets, the Trustee will, upon written instructions from the Administrator, establish on behalf of a participant or beneficiary a Schwab Personal Choice Retirement Account™ (“PCRA Account”) at Xxxxxxx Xxxxxx & Co., Inc. (the “Broker/Dealer”). Such Account will be used to segregate the non-core assets representing the value of an individual participant’s or beneficiary’s account(s) under the Plan. The participant or beneficiary will be allowed to manage the investment of the assets in his or her PCRA Account and will be solely responsible for any loss resulting from his or her exercise of control over the assets segregated into his or her PCRA Account.
Participant Direction of Investments. To the extent provided for under the Plan, each Participant, Beneficiary, and Alternate Payee shall have investment authority over his or her account and may direct the investment and reinvestment of assets among the Investment Funds. The Plan Administrator or its designee (which may be the Recordkeeper) shall communicate such directions to the Trustee under procedures established by the Trustee and the Plan Administrator, and the Trustee shall follow and carry out such directions. If a Participant, Beneficiary, or Alternate Payee who has investment authority under the terms of the Plan fails to provide such directions, the Trustee shall invest the Participant’s, Beneficiary’s or Alternate Payee’s account among the Investment Funds in accordance with the directions of the Employer, as maintained by the Recordkeeper. The Trustee shall not be liable for any loss that results from a Participant’s, Beneficiary’s or Alternate Payee’s exercise of investment control.
Participant Direction of Investments. If the Plan (by election in Part 12, #43 of the Agreement [Part 12, #61 of the 401(k) Agreement] or by the Plan Administrator’s administrative election) permits Participant direction of investments, the Plan Administrator must adopt investment procedures for such direction. The investment procedures should set forth the permissible investment options available for Participant direction, the timing and frequency of investment changes, and any other procedures or limitations applicable to Participant direction of investment. In no case may Participants direct that investments be made in collectibles, other than U.S. Government or State issued gold and silver coins. The investment procedures adopted by the Plan Administrator are incorporated by reference into the Plan. If Participant investment direction is limited to specific investment options (such as designated mutual funds or common or collective trust funds), it shall be the sole and exclusive responsibility of the Employer or Plan Administrator to select the investment options, and the Trustee shall not be responsible for selecting or monitoring such investment options, unless the Trustee has otherwise agreed in writing. The Employer may elect under Part 12, #43.b.(1) of the Agreement [Part 12, #61.b.(1) of the 401(k) Agreement] or under the separate investment procedures to limit Participant direction of investment to specific types of contributions. The investment procedures adopted by the Plan Administrator may (but need not) allow Beneficiaries under the Plan to direct investments. (See Section 13.4(b) for rules regarding allocation of net income or loss to a Directed Account.) If Participant direction of investments is permitted, the Employer will designate how accounts will be invested in the absence of proper affirmative direction from the Participant. Except as otherwise provided in this Plan, neither the Trustee, the Employer, nor any other fiduciary of the Plan will be liable to the Participant or Beneficiary for any loss resulting from action taken at the direction of the Participant.
Participant Direction of Investments. (a) The Participants are specifically authorized to direct the manner in which the amounts credited to their respective Company Contributions Accounts are invested. Accordingly, the Sponsoring Company's Committee shall deter mine the investment alternatives which are to be available ("Permitted Investments"). Such alternatives shall include but need not be limited to (1) investment by (A) deposit in an interest bearing account with a bank, savings and loan association or other similar financial institution, which account shall have a high degree of liquidity and be fully insured against loss by the United States or an agency thereof ("Savings Account") or (B) in a pooled investment fund, the assets of which consist solely of cash and securi ties issued or guaranteed by the United States or an agency thereof and the principal investment objectives of which include a high level of current income consistent with the preservation of capital and a high degree of liquidity and (2) three (3) or more groups of diversified investments, at least one of which can reasonably be expected to generate a high level of income while preserving capital in the long term, one of which can be reasonably expected to generate capital appreciation and one of which can be reasonably expected to generate a high level of current income consistent with the preservation of capital and a high degree of liquidity so as to afford each Participant with a reasonable opportunity to diversify the investment of the amounts credited to his Accounts and thereby minimize the risk of large losses. Moreover, such Committee shall be deemed to have intended to provide each Participant with the opportunity to exercise control over the assets allocated to the Accounts maintained hereunder for his benefit in a manner and to the extent necessary to result in no other person who would otherwise be a fiduciary with respect to the Plan being liable for any loss, or with respect to any breach of part 4 of Title I of the Act, which is a direct and necessary result of the exercise of control over such assets by such Participant or his Beneficiary.
Participant Direction of Investments. At such time as the Company may determine, Plan Participants may be afforded the opportunity to have an investment account ("Account") established on their behalf under the Trust, and be given the ability to designate the specific types of investments to be held for the Participant in such Account, in accordance with procedures adopted by the Company and agreed to by the Trustee. Each Plan Participant's Account shall be credited or charged, as the case may be, with any earnings, gains, losses, and/or expenses experienced with respect to the assets in which his Account is invested. Consistent with Section 1.4 of this Trust Agreement, all investments in all Plan Participants' Accounts shall be considered part of the Trust's property at all times, no Plan Participants or their beneficiaries shall have any preferred claim on or any beneficial interest in any such Accounts, and all such Accounts shall remain subject to the claims of the Company's policyholders and general creditors.
Participant Direction of Investments. Each Participant may direct how his Account is to be invested, among the available investment funds, in whole percentages as established by the Administrator. In the event a Participant fails to make an investment election, with respect to all or any portion of his Account, the Trustee shall invest all or such portion of his Account in the investment fund to be designated by the Administrator. A Participant may change his investment election, with respect to future contributions and, if applicable, forfeitures, and/or amounts previously accumulated in the Participant's Account, in writing, on such form as the Administrator shall specify, or via a telephone "voice response" system designated by the Administrator, provided that a written confirmation is forwarded in response to such oral request. Any such change in a Participant's investment election shall be effective at such time as may be prescribed by the Administrator. If the Plan's recordkeeper or investments are changed, the Administrator may suspend the Participants' investment direction of their Accounts.
Participant Direction of Investments. If the Plan permits Participant direction of investments, the Plan Administrator, along with the Trustee must adopt investment procedures for such direction. The investment procedures should set forth the permissible investment options available for Participant direction, the timing and frequency of investment changes, and any other procedures or limitations applicable to Participant direction of investment. The Employer may elect to limit Participant direction of investment to specific types of contributions. If Participant direction of investments is permitted, the Employer will designate how accounts will be invested in the absence of proper affirmative direction from the Participant. Except as otherwise provided in this Plan, neither the Employer nor Trustee will be liable to the Participant or Beneficiary for any loss resulting from action taken at the direction of the Participant.
