Mo. Code Regs. tit. 16 § 50-20.060
Current through Register Vol. 49, No. 23, December 2, 2024
Section 16 CSR 50-20.060 - Accounts of ParticipantstsPURPOSE: This rule describes the accounting for a Participantst's interest in the 457 Plan, and the investment of a Participantst's Account.
(1) Accounts. The Board shall establish and maintain Accounts on behalf of each Participantst. Such Participantst Accounts shall be valued at fair market value as of each business day. Each Participantst's Account balance shall reflect his or her aggregate Deferral Amounts, Transfer Amounts and any earnings (or losses) attributable to such amounts, and shall be reduced by administrative, investment, and other fees and expenses attributable to his or her Account that are necessary for the administration of the Participantst's Account.(2) Investments. A Participantst may request that his or her Account (and his or her Deferrals) be allocated among the Investment Options made available by the Board. The initial allocation request shall be made at the time of enrollment. Once made, an investment allocation request shall remain in effect until changed by the Participantst. A Participantst may change his or her investment allocation by submitting a request to the Board (or its designee) in such form as may be permitted by the Board (or its designee). Such changes shall become effective as soon as administratively feasible after the Board (or its designee) receives such request. If the Participantst fails to make an investment allocation request at the time of his or her enrollment, the Participantst's Account shall be invested in default Investment Options selected by the Board, until such time as the Participantst submits an investment allocation request. AUTHORITY: section 50.1300, RSMo Supp. 1999.* Original rule filed May 9, 2000, effective Jan. 30, 2001. *Original authority: 50.1300, RSMo 1999.