3-13-51.3. Default designation of new investment selection upon termination of participant's contract.
48 words·~1 min read·
/sd/title-3/chapter-3-13/3-13-51-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If a contract with a vendor terminates and a participant fails to notify the third - party administrator of the participant's new investment selection before the contract terminates, the third - party administrator shall transfer that participant's account to the investment alternative designated by the state investment officer.