Common use of Accountholder-Directed Accounts Clause in Contracts

Accountholder-Directed Accounts. Accountholders will direct the investment of all of their Accounts among any one or combination of investment funds as are offered for such purpose by the Administrator from time to time. The Administrator will establish a written procedure to govern such investments, including specifying a default investment fund or funds when Accountholders do not direct the investment of their Accounts. If the Plan is subject to ERISA, such procedure will satisfy the requirements of ERISA section 404(c).