N.J. Admin. Code § 17:6-6.3

Current through Register Vol. 56, No. 23, December 2, 2024

Section 17:6-6.3 - Limits on frequency of investment directions

(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) 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.