27 Miss. Code. R. 240-V-5.1
Plan contributions are invested in one or more Funding Vehicles available to Participants under this Plan. These Funding Vehicles, unless restricted by law, may include collective investment trusts or common group trusts that provide for the pooling of assets of employee benefits trusts, as permitted under Revenue Rulings 81-100 and 2011-1, Notice 2012-6, Revenue Ruling 2014-24, or subsequent guidance, and that are operated or maintained exclusively for the commingling and collective investment of monies, provided that the funds in the group trust consist exclusively of trust assets held under plans qualified under section 401(a) of the Internal Revenue Code, individual retirement accounts that are exempt under section 408(e) of the Internal Revenue Code, eligible governmental plans that meet the requirements of section 457(b) of the Internal Revenue Code, and governmental plans under section 401(a)(24) of the Internal Revenue Code. For this purpose, a trust includes a custodial account or separate tax-favored account maintained by an insurance company that is treated as a trust under section 401(f) or under section 457(g)(3) of the Internal Revenue Code.
Any collective or common group trust to which assets of the Plan are transferred shall be adopted by the Board as part of the Plan by executing appropriate participation, adoption agreements, and/or trust agreements with the group trust's trustee. The separate account maintained by the group trust for the Plan shall not be used for, or diverted to, any purpose other than for the exclusive benefit of the members and beneficiaries of the Plan.
For purposes of valuation, the value of the separate account maintained by the group trust for the Plan shall be the fair market value of the portion of the group trust held for the Plan, determined in accordance with generally recognized valuation procedures.
The Board shall periodically monitor and evaluate the available Fund Sponsors and Funding Vehicles as well as the appropriateness of continued offerings by the Plan. The Board shall determine whether to add additional Funding Vehicles and/or to terminate Funding Vehicles that are determined to be no longer appropriate for offering.
27 Miss. Code. R. 240-V-5.1