Mo. Code Regs. tit. 16 § 50-10.040
Current through Register Vol. 49, No.12, June 17, 2024
Section 16 CSR 50-10.040 - Accounts of ParticipantstsPURPOSE: This rule describes the accounting for a Participantst's interest in the defined contribution plan and the investment of a Participantst's account.
(1) Account for Each Participantst. An individual bookkeeping Account shall be maintained for each Participantst, to record his or her interests under the Plan. Each Account shall be divided into the following subaccounts to track contributions, investment earnings and losses, and expense charges:(A) A seed account for seed contributions pursuant to rule 16 CSR 50-10.030(1);(B) A Board matching account for Board matching contributions pursuant to rule 16 CSR 50-10.030(2);(C) An Employer matching account for Employer matching contributions pursuant to rule 16 CSR 50-10.030(5);(D) A rollover account for rollover contributions pursuant to rule 16 CSR 50-10.030(6); and(E) Any other subaccounts as the Trustee, Board, or Investment Manager deems necessary to keep track of a Participantst's interests under the Plan.(2) Investments. If the Board establishes a directed investment program, a Participantst may request that his or her Account (and the contributions allocated to his or her Account) be allocated among the Investment Options made available by the Board. The initial allocation request shall be made at the time an Employee becomes a Participantst. Once made, an investment allocation request shall remain in effect for all contributions allocated to the Participantst's Account until changed by the Participantst. A Participantst may change his or her investment allocation by submitting a request to the Board (or its designee) in such form as may be permitted by the Board (or its designee). Such changes shall become effective as soon as administratively feasible after the Board (or its designee) receives such request. If the Participantst fails to make an investment allocation request at the time of his or her enrollment, the Participantst's Account shall be invested in default Investment Options selected by the Board, until such time as the Participantst submits an investment allocation request. AUTHORITY: section 50.1240, RSMo 2000.* Original rule filed May 9, 2000, effective Jan. 30, 2001. Amended: Filed April 25, 2002, effective Nov. 30, 2002. *Original authority: 50.1240, RSMo 1999.