N.J. Admin. Code § 17:6-6.4

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

Section 17:6-6.4 - Who directs investment

(a) During the participant's life, the participant shall direct the investment of his or her account. After the participant's death, the beneficiary shall direct the investment of that beneficiary's separate account. If following a QDRO, the Plan Administrator maintains a separate account for the alternate payee, the alternate payee will direct investments of that separate account. During the participant's, beneficiary's, or alternate payee's disability or incompetence, investments shall be directed by the person that is the court appointed and currently serving conservator or guardian of the estate of the participant, or if there is no conservator or guardian, the person who has authority to act for the participant under a power-of-attorney accepted by the Plan Administrator.

(b) A participant, beneficiary, or alternate payee may authorize an agent or attorney-in-fact to direct investment for all of his or her account by giving written notice acceptable to the Plan Administrator and furnishing a power-of-attorney that is accepted by the Plan Administrator.