Plan-Initiated Withdrawal

A withdrawal requested by a plan sponsortrustee, or contract-holder, or agent thereof, of some or all of a plan’s investment in a stable value investment option or investment contract. Plans that wish to terminate their participation in stable value commingled funds or some insurance company guaranteed insurance accounts and receive contract value may be subject to a deferral period. Any deferral period is outlined in the investment documentation (also known as a put option). Other commingled funds or insurance funds may offer a different deferral period, a series of book value payments over a period of time, or no deferral period and instead offer a lesser of book or market payment option. During any deferral period participant directed transactions will continue to be made at book value.