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
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.