N.J. Admin. Code § 17:6-6.5

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

Section 17:6-6.5 - Duty to accept investment direction

(a) The DSP must accept every proper investment direction with respect to an investment option approved by the Board, and the DSP is obligated to comply with such proper investment direction.

(b) As of each valuation date with respect to an investment option, the DSP shall credit or debit to each participant's account the investment gain or loss with respect to such account's allocable share of the investment option since the previous valuation date.

(c) The Plan Administrator and the DSP may not charge the participant's, beneficiary's, or alternate payee's account for the expenses of executing his or her investment direction except as provided by 17:6-6.3. If such expenses are so charged, the Plan Administrator or the DSP shall inform the participant, beneficiary, or alternate payee of the charges. Any expenses charged by a DSP must be approved by the Plan Administrator.

N.J. Admin. Code § 17:6-6.5