Default Investment definition

Default Investment means a money market fund whose investments are limited to obligations issued by, or the full and timely payment of principal of and interest on which is fully guaranteed by, the United States of America or any agency or instrumentality thereof (which agency or instrumentality is backed by the full faith and credit of the United States of America), deposits into which are available on demand or no later than the next following Business Day.
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Default Investment shall have the meaning set forth in Section 4.
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Examples of Default Investment in a sentence

  • If you do not wish to choose an investment option, you do not have to complete the “Investment Choice” below, and your future contributions and accrued benefits transferred from another scheme will be invested in accordance with the Default Investment Strategy (“DIS”) by default.

  • If there is no investment election on file for any Current Participant, then such Current Participant shall be deemed to have directed such payment to be invested in the relevant Plan’s “Qualified Default Investment Alternative,” as defined in 29 C.F.R. § 2550.404c-5.

  • The University and the Union will select a new Qualified Default Investment Alternative (QDIA) within a timeframe to be determined by the University’s Benefits Services Group (BSG).

  • The Trustee may only invest the Noongar Future Fund in accordance with the Investment Policy or Default Investment Policy having regard to the general purpose of the Noongar Future Fund as set out in clause 7.1 and the borrowing restrictions set out in Schedule 5(e).

  • Upon retirement, eligible teachers may choose to relinquish the portion of the vested amount in their Employer Paid Account equal to the amount that would have been in their account had they invested in the USD 290 Default Investment Track and thereby participate in the Phase Out Option described below.

  • If there is no investment election for new contributions on file for any Current Participant, then such Current Participant shall be deemed to have directed such payment to be invested in the Plan’s “Qualified Default Investment Alternative,” as defined in 29 C.F.R. § 2550.404c-5.

  • If the Current Participant does not have an investment election on file, then such Current Participant shall be deemed to have directed such payment to be invested in the Plan’s “Qualified Default Investment Alternative,” as defined in 29 C.F.R. § 2550.404c-5.

  • The automatic enrollment deduction percentage will be 1% of compensation on a pretax basis which will be deposited in the Plan’s appropriate Qualified Default Investment Allocation (QDIA) Target Date fund.

  • If there is no investment election for new contributions on file for any Current Participant with a recordkeeper, then such Current Participant shall be deemed to have directed such payment to be invested in the relevant Plan’s “Qualified Default Investment Alternative” as defined in 29 C.F.R. § 2550.404c-5.

  • If there is no investment election for new contributions on file for any Current Participant who is not a Zero Account Balance Current Participant with a recordkeeper, then such Current Participant shall be deemed to have directed such payment to be invested in the relevant Plan’s “Qualified Default Investment Alternative” as defined in 29 C.F.R. § 2550.404c-5.