Term
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Definition
| Written notice provided to the employees of a plan given 30 to 60 days in advance. Must detail 1) reason for black out 2) identification of investments and rights affected 3) Expected start and end dates 4) statement to participants to evaluate investments prior to black out 5) name and contact of Fiduciary |
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Term
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Definition
| "Three or more days in which participants are unable to make investment elections or diersify investments, take distributions, or obtain loans from the plan. Requires minimum 30 day advance notice to participants" |
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Term
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Definition
| Minimum of Three diversified investment options that offer a broad range of investment opportunity |
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Term
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Definition
| is someone who has discrection or control over the plan's assets or administration |
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Term
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Definition
| The opportunity to give investment instructions must be available with a frequencey that is appropriate to the volatility of the investment |
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Term
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Definition
| Defined Contribution plans that permit participants to direct their own investments |
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Term
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Definition
| Recommendations to buy or sell investments based information provided by a person who is licenced and compensated for their services. Or has Discretionary authority with respect to buying or selling securities for the participant |
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Term
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Definition
| "Mutual Fund, Common or collective trust fund, guaranteed investment contracts (GICs), bank deposits, or pooled separate accounts maintained by an insurance company" |
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Term
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Definition
| "Fully replacing an old investment with a new investment. Changing out account balances, and investment election allocations from the old fund to the new fund" |
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Term
| Participant-directed Plan |
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Definition
| "Participants must have 1) the opportunity to exercise control over the assets in their individual accounts AND 2) The opportunity to Choose from a broad range fo investment alternatives, the manner in which some or all of the assets in their accounts are invested" |
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Term
| Qualified Default Investment Alternative |
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Definition
| Must be an investment product or model portfolio that 1) satisfies certain investment characteristics 2)Does not invest in employer securitites 3) does not impose financial penalities on transfers from the QDIA 4) Is managed by an investment manager 5) is diverified to minimize risk of large losses |
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Term
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Definition
| Qualified Defalut Investment Alternative |
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