Mississippi Administrative Code › Title 27 - STATE PERSONNEL BOARD › Part 220 - PERS, Deferred Compensation Plan And Trust › Article VI - INVESTMENT OF CONTRIBUTIONS › Section 27-220-VI-6.1 - INVESTMENT OPTIONS AND GROUP TRUSTS

Current through June 25, 2024
The Board shall screen and approve any insurance company or
				  other entity seeking to provide an Investment Option or otherwise operate as a
				  Provider under this Plan for the investment of deferred amounts by Participants
				  or their Beneficiaries. The Board shall monitor and evaluate at least annually
				  the available investment options as well as the appropriateness of continued
				  offerings by the Plan. The Board shall determine, in its sole discretion,
				  whether to add additional investment options and/or to terminate options that
				  are determined to be no longer appropriate for offering.
These investment options, unless restricted by law, may
				  include collective investment trusts or common group trusts that provide for
				  the pooling of assets of employee benefits trusts, that meet all the conditions
				  as permitted under Revenue Rulings 81-100 and 2011-1, or subsequent guidance,
				  and that are operated or maintained exclusively for the commingling and
				  collective investment of funds from other trusts. This investment authority is
				  granted on the condition that such funds in a group trust must consist
				  exclusively of trust assets held under plans qualified under Code Section
				  401(a), that are exempt or treated as exempt under Code Section 501(a); funds
				  from individual retirement accounts that are exempt under Code Section 408(e);
				  funds from eligible governmental plan trusts or custodial accounts under Code
				  Section 457(b) that are exempt under Code Section 457(g); and funds from Code
				  Section 401(a)(24) governmental retiree benefit plans that are not subject to
				  Federal income taxation; and, if permitted by the group trust, funds that
				  consist of assets of a custodial account under Code Section 403(b)(7) are
				  invested in the group trust, all assets of the group trust, including the Code
				  Section 403(b)(7) custodial accounts, are solely permitted to be invested in
				  stock of regulated investment companies. For this purpose, a trust includes a
				  custodial account that is treated as a trust under Code Sections 401(f),
				  403(b)(7), 408(h) or 457(g)(3). The provisions of the documents governing such
				  collective investments trusts or group trusts, as amended from time to time,
				  shall govern any investments therein and are hereby made a part of this Trust
				  Agreement and its corresponding plan document.
The Plan may offer a Self-Directed Brokerage Account for
				  additional investment choices. The Plan Investments may only be made in the
				  Self-Directed Brokerage Account as a transfer of assets from the account
				  balance in the Plan's Investment Options. A minimum balance of $2,500 in the
				  Plan's Investment Options is required for a Participant or Beneficiary to be
				  eligible to establish and maintain a Self-Directed Brokerage Account.
				  Additionally, Plan assets held in a Self-Directed Brokerage Account are not
				  eligible for a plan-to-plan transfer. Participants must first move any
				  Self-Directed Brokerage Account assets they wish to transfer to another
				  eligible government plan to the Plan's Investment Options before a plan-to-plan
				  transfer can be executed.