SEGREGATION OF PARTICIPANT ACCOUNTS Sample Clauses

SEGREGATION OF PARTICIPANT ACCOUNTS. (A) Subject to uniform rules established by the Administrator on a non-discriminatory basis, a Participant may request, subject to the approval of the Administrator, that his Participant Account and/or Participant Deductible Contribution Account and/or his Rollover Account be segregated in a separate account. The Administrator shall establish rules regarding the manner and the times by which such request can be made and/or revoked. The Plan Administrator shall adopt rules and regulations concerning all aspects of the segregated account including the adjustment of the segregated account for earnings and losses generated by the general Trust Fund if and where applicable. If the Plan Administrator authorized the segregation of any such Participant's account, such Participant shall have the full authority to direct the investment of such segregated account, held on his behalf, by written instruction delivered to the Trustee, in which event the Trustee shall follow, as soon as practicable, the directions of the Participant with respect to the investment of such segregated account; provided, however, that such an investment is not prohibited by statute or by any other provision of the Plan and Trust. In so doing, the Trustee shall be completely exonerated from any liability and held harmless by the Participant and the Plan Administrator with respect to such investments. Contributions made during the period in which a segregated account is maintained for the Participant shall be allocated appropriately to such segregated account. Notwithstanding the provisions of Section 4.10, the Participant's applicable segregated account shall be increased and/or decreased solely by the net earnings and/or losses resulting from the investments of the segregated account. All expenses incurred as a result of such an election and operation of the segregated account shall be charged to and deducted directly from said account. Upon retirement of the Participant, if any of his account balances are still segregated, his benefits shall be equal to the assets in his segregated account. (B) For purposes of the Short Form Adoption Agreement, each Participant will have a separate Individual Investment Account which will contain the Defined Contribution Plan and Trust Document amount allocated to the Participant Account. Each Participant will have the power to direct the investment with respect to his Individual Investment Account, as provided in Section 4.11(A).
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Related to SEGREGATION OF PARTICIPANT ACCOUNTS

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  • Retention Account credits and withdrawals

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