§ 33-39A. Investment of contributions to the elected officials' plan.

Latest version.

(a) Investment funds.
(1) An elected officials' participant must direct that contributions allocated to that participant's retirement accounts be invested in one or more of the investment funds selected by the Board for the retirement savings plan under Article VIII.
(2) An elected officials' participant may allocate investments in the investment funds in any amounts or multiples permitted by the Board in the retirement savings plan.
(3) An elected officials' participant's direction of investment must remain in effect until the elected officials' participant changes the direction under subsection 33-39A(b). If an elected officials' participant does not provide a valid direction of investment, the account balances of that elected officials' participant, to the extent they are not governed by a valid direction of investment, must be invested in an appropriate investment option selected by the Board.
(b) Change of allocation.
(1) An elected officials' participant may change the allocation of that elected officials' participant's account balances among the investment funds, in amounts and at times set by the Board for investments in the retirement savings plan. The change will be effective at times set by the Board for the retirement savings plan.
(2) An elected officials' participant may designate that the change of the allocation among investment funds is effective as to:
(A) Only the elected officials' participant's account balances as of the effective date of the change; or
(B) Only the elected officials' participant's contributions and county contributions made after the effective date of the change; or
(C) Both a. and b. (1987 L.M.C., ch. 27, § 6; 1987 L.M.C., ch. 29, § 4; 1994 L.M.C., ch. 33, § 1; , § 1.)

                    
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