New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 7 - ALTERNATE BENEFIT PROGRAM
Subchapter 12 - NEW JERSEY ADDITIONAL CONTRIBUTIONS TAX-SHELTERED PROGRAM (ACTS)
Section 17:7-12.19 - Investment
Current through Register Vol. 56, No. 18, September 16, 2024
(a) All elective deferrals or other amounts contributed to the ACTS, all property and rights purchased with such amounts under the investment options, and all income attributable to such amounts, property, or rights shall be held and invested in one or more annuity contracts or custodial accounts.
(b) Each participant or beneficiary shall direct the investment of his or her account among the investment options available under the annuity contract or custodial account in accordance with the terms of the investment options.
(c) Each pension provider and the Plan Administrator shall exchange such information as may be necessary to satisfy IRC § 403(b) or other requirements of applicable law.