New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 7 - ALTERNATE BENEFIT PROGRAM
Subchapter 13 - INVESTMENTS AND INVESTMENT DIRECTION-ABP RETIREMENT PLAN AND ACTS
Section 17:7-13.3 - Limits on frequency of investment directions

Universal Citation: NJ Admin Code 17:7-13.3

Current through Register Vol. 56, No. 6, March 18, 2024

(a) The Plan Administrator, or the DSP with the consent of the Plan Administrator, may, but only on a uniform and consistent basis, impose reasonable restrictions on the frequency with which a participant, beneficiary, or alternate payee may give investment directions. In addition to such restrictions, a participant, beneficiary, or alternate payee may not give more than one investment direction in any valuation day, therefore, the latest investment direction in a valuation day cancels all earlier inconsistent investment directions in that valuation day.

(b) Surrender and/or redemption fees may be imposed by an investment option and will be charged to the participant's account in accordance with the investment option's written policy.

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