Qualified Default Investment Alternative definition

Qualified Default Investment Alternative means an investment alternative available to Participants and Beneficiaries that satisfies the requirements of ERISA Section 404(c)(5) and the applicable Department of Labor regulations thereunder and shall be subject to the following rules:

Qualified Default Investment Alternative means the Fidelity Freedom Fund closest to the year of the Participant’s 65th birthday.

Qualified Default Investment Alternative means a qualified default investment alternative as defined in regulations issued by the Department of Labor pursuant to ERISA Section 404(c)(5), or any successor thereto, that is designated by the Plan Administrator. If all or a portion of the Account of a Participant or Beneficiary who fails to make an affirmative investment election as to such portion of the Participant’s Account is to be invested in the qualified default investment alternative, the Plan Administrator shall provide to such Participant or Beneficiary a notice explaining the Participant’s or Beneficiary’s right to designate how contributions and earnings will be invested and explaining how, in the absence of any investment election, such contributions will be invested and give the Participant or Beneficiary a reasonable period of time after receipt of such notice to make such designation, all in accordance with regulations issued by the U.S. Department of Labor pursuant to ERISA Section 404(c)(5) and shall provide such other information to the Participant or Beneficiary as may be required by such regulations.

Examples of Qualified Default Investment Alternative in a sentence

• The Qualified Default Investment Alternative must be an investment product or fund described in Department of Labor Regulation Section 2550.404c–5(e)(4).

• 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).

• If an Eligible Participant does not direct the investment of the assets in his or her Account, including the Automatic Contributions and Match Contributions related thereto, then such assets will be invested in a Qualified Default Investment Alternative as provided for in Section 16.03.

• All Plan Contributions received by the Trustee shall be credited initially to the portion of the Plan that is not comprised of the ESOP Feature and thereafter, among the Investment Funds selected by the Participant, Beneficiary or Alternate Payee, and if none, to the Qualified Default Investment Alternative.

• A Plan fiduciary shall provide to a Participant or Beneficiary the materials set forth in Department of Labor Regulation Section 2550.404c-1(b)(2)(i)(B)(1)(viii) and (ix) and Department of Labor Regulation Section 404c-1(b)(2)(i)(B)(2) relating to a Participant’s or Beneficiary’s investment in a Qualified Default Investment Alternative.

More Definitions of Qualified Default Investment Alternative

Qualified Default Investment Alternative or “QDIA” means an investment alternative under Article IV, Section 2 that satisfies the requirements of Section 404(c)(5) of ERISA and U.S. Department of Labor Regulations Section 2550.404c-5(e), and any guidance issued thereunder, and which has been approved by the Board.

Qualified Default Investment Alternative means a Qualified Default Investment Alternative as defined in Regulations issued by the U.S. Department of Labor.

Qualified Default Investment Alternative means the Participant Investment Fund chosen by the Investment Committee, as designated in Appendix A, to meet the requirements of ERISA Section 404(c)(5) and the regulations thereunder.

Qualified Default Investment Alternative means types of

Qualified Default Investment Alternative means types of investments identified by the federal internal revenue service for employees who do not make an investment choice or are automatically enrolled in a retirement plan.

Qualified Default Investment Alternative. Has the meaning 29 C.F.R. § 2550.404c-5 provides for a qualified default investment alternative or the meaning that rule would provide if part 4 of subtitle B of title I of ERISA governed the Plan.

Qualified Default Investment Alternative means the Investment Fund(s) selected by the BIC, in accordance with ERISA Section 404(c)(5), to be the fund to which Contributions are to be credited absent a direction by a Participant, Beneficiary or Alternate Payee.