All amounts deferred or contributed in accordance with Article III shall be paid by the applicable employer as promptly as possible, but in no event later than two business days from the applicable payroll date, to the trust fund. Thereafter, amounts deferred or contributed shall be invested by the Trustee in accordance with the investment instructions received by the Trustee from the administrative service agency, within two business days following receipt by the trust fund of such amounts deferred or contributed (or, if later, on the first business day coincident with or immediately following receipt by the Trustee of the investment instructions from the administrative service agency related to such amounts deferred or contributed). All such amounts deferred or contributed shall be invested by the Trustee (in accordance with the investment instructions received from the administrative service agency) in the investment options provided by one or more financial organizations appointed by the Committee in accordance with the regulations, and shall be held, managed, invested and reinvested in accordance with the applicable agreement entered into by the Committee or the Trustee with each such financial organization.
A participant who has enrolled in the plan pursuant to Article II shall, by filing a direction with the administrative service agency in writing or in such other manner as the Committee may authorize, specify the percentage (in multiples of 1%) of his or her amounts deferred or contributed, that shall be allocated to each investment option made available by the Committee. A participant's investment allocation elections shall be applied in the same manner to both before-tax deferrals and Roth contributions (to the extent applicable).
Any deferral and contribution allocation direction given by a participant shall be deemed to be a continuing direction until changed by the participant. A participant may change his or her deferral and contribution allocation direction with respect to future amounts deferred or contributed, as of any enrollment date, by giving notice in writing or in such other manner as the Committee may authorize to the administrative service agency prior to any enrollment date. Any change to a participant's deferral and contribution allocation direction shall be applied in the same manner to both before-tax deferrals and Roth contributions (to the extent applicable). All such future deferrals and contributions shall be invested by the Trustee in the investment options in accordance with such changed direction.
A. 
Transfer of Assets. As of any valuation date, an account participant may direct the administrative service agency, by giving notice in writing or in such other manner as the Committee may authorize, to liquidate his or her interest in any of the investment options and transfer the proceeds thereof to one or more other investment options in the proportions directed by such participant. Account participants may make separate transfer directions for their before-tax deferral accounts and accounts relating to rollover contributions involving before-tax deferrals and their Roth accounts and accounts relating to rollover contributions involving Roth contributions (to the extent applicable). Such direction must be made in accordance with the requirements and procedures established by the Committee and in effect at the time and in a multiple of 1% or $1 increments of the account participant's interest in the applicable investment option.
B. 
Committee's right to reduce or deny transfer request.
(1) 
If the Trustee or any Financial Organization appointed by the Committee advises the Committee, or the Committee otherwise determines, that it is not reasonably able to prudently liquidate the necessary amount and transfer it from one of the investment options to another, the amount to be transferred with respect to each account participant who duly requested such a transfer may be reduced in proportion to the ratio which the aggregate amount that the Trustee or the Financial Organization has advised the Committee may not prudently be so transferred bears to the aggregate amount that all account participants have duly requested be so transferred. Regardless of any account participant's investment direction, no transfer between investment options may be made in violation of any restriction imposed by the terms of the agreement between the Committee or the Trustee and a Financial Organization providing any investment option or of any applicable law.
(2) 
Notwithstanding anything in this Subsection B or the plan to the contrary, the Committee, the Trustee or the Financial Organization shall have the right, without prior notice to any account participant, to suspend, for a limited period of time, daily transfers between and among investment options for one or more days if the Committee, the Trustee or the Financial Organization determines that such action is necessary or advisable:
(a) 
In light of unusual market conditions;
(b) 
In response to technical or mechanical problems with the plan's or the administrative service agency's recordkeeping systems;
(c) 
In connection with any suspension of normal trading activity on the New York Stock Exchange or other major securities exchange;
(d) 
As a result of strikes, work stoppages, acts of war or terrorism, insurrection, revolution, nuclear or natural catastrophes or other similar events, losses or interruptions of power, other utility outages or malfunctions, or malfunctions in communications or computer services, in each case, that make it necessary or advisable to suspend trading activity; or
(e) 
In accordance with § 50-4.10.
The administrative service agency shall have the right to decline to implement any investment direction upon its determination that:
A. 
The person giving the direction is legally incompetent to do so;
B. 
Implementation of the investment direction would be contrary to the plan or applicable law or governmental ruling or regulation, including Treasury regulations;
C. 
Implementation of the investment direction would be contrary to a court order, including a qualified domestic relations order;
D. 
Implementation of the investment direction would be contrary to the rules, regulations or prospectuses of the investment funds; or
E. 
Implementation of the investment direction would be contrary to the investment guidelines or terms of any agreements applicable to the Stable Value Fund or any similar investment fund then available under the plan.
Each participant is solely responsible for the allocation of his or her amounts deferred or contributed, and each account participant is solely responsible for the investment allocation of his or her account, in each case, in and among the investment options. Each account participant shall assume all risk in connection with the allocation of amounts in and among the investment options and for any losses incurred or deemed to be incurred as a result of the account participant's allocation or failure to allocate any amount to an investment option or any decrease in the value of any investment option. Neither the Committee, any Trustee, any employer nor the administrative service agency is empowered to advise a participant as to the manner in which the account participant's account shall be allocated among the investment options. The fact that a particular investment option is available to participants for investment under the plan shall not be construed by any account participant as a recommendation for investment in such investment option. If the Committee elects to make available investment guidance services or investment advice services to account participants, such services shall be utilized only at the voluntary election of the account participant and shall not limit the account participant's responsibility under this § 50-4.6 for the allocation of his or her accounts in and among the investment options.
Notwithstanding any other provision of the plan, during any period when an alternate payee account is created and segregated on behalf of an alternate payee pursuant to a qualified domestic relations order from the accounts of the related participant, the alternate payee shall be entitled to direct the allocation of investments of such alternate payee account in accordance with §§ 50-4.2 and 50-4.4, as applicable, and shall be subject to the provisions of §§ 50-4.5 and 50-4.6, but only to the extent provided in such order. In the event that an alternate payee fails to specify an investment direction on the date of creation of the alternate payee account pursuant to § 50-4.9, such alternate payee's alternate payee account shall be invested in the same manner as the relevant participant's corresponding before-tax deferral account, Roth account (to the extent applicable) and rollover accounts on such date and, except as otherwise provided by the qualified domestic relations order, shall remain invested in accordance with such initial allocation until the alternate payee directs otherwise or until such time as the alternate payee ceases to have an alternate payee account under the plan by reason of distribution or otherwise.
Notwithstanding any other provision of the plan, during any period following the death of a participant and prior to distribution of the entire plan benefit of such participant, such participant's beneficiary shall be entitled to direct the allocation of investments of such plan benefit in accordance with § 50-4.4 or, as applicable, his or her proportional interest in such plan benefit, in accordance with § 50-4.4 and shall be subject to the provisions of §§ 50-4.5 and 50-4.6. In the event that a beneficiary fails to specify an investment direction on the date of creation of the beneficiary account pursuant to § 50-4.4, such beneficiary's beneficiary account shall be invested in the same manner as the relevant participant's corresponding before-tax deferral account, Roth account (to the extent applicable) and rollover accounts on such date.
Unless otherwise directed by the account participant, the same deferral and contribution allocation direction applicable to an account participant pursuant to § 50-4.2 or § 50-4.3, as applicable, shall apply to all Section 457 transfers and rollover contributions. Notwithstanding the foregoing, in accordance with procedures established by the administrative service agency, an account participant may make an alternative initial allocation election in accordance with the procedures set forth in § 50-4.4 for any applicable Section 457 transfer or rollover contribution. Thereafter, such account participant may direct the administrative service agency to liquidate his or her interest in any of the investment options and transfer the proceeds thereof to one or more other investment options in accordance with § 50-4.4 (in each case subject to the limitations set forth in §§ 50-4.5 and 50-4.6). All rollover contributions shall be invested by the Trustee in the investment options in accordance with such directions as soon as administratively practicable.
Notwithstanding anything in this Article IV to the contrary, if the Committee eliminates one or more of the investment funds or investment options or undertakes similar activity on behalf of the plan, the Committee shall be authorized to liquidate, without an account participant's consent and without the need for prior notice to the account participant, the portion of each account invested in such eliminated investment fund or investment option and direct the proceeds of such liquidation in one or more remaining or replacement investment funds or investment options in accordance with such liquidation and transfer procedures as the Committee may determine to be necessary or advisable in connection with such elimination.