HAR §14-44-15. Designation of investment preference

(a) A participant shall designate a preference for the investment of amounts deferred from among the available investment products under the plan in the participation agreement. 44-10 )5 16 r I !,.'·~· §14-44-17 (b) A participant may change a designation of an investment preference with respect to prospective deferrals by filing an amended participation agreement, which shall be subject to acceptance by the board. (c) Investment of deferred amounts shall be made in accordance with the participants' designated preferences unless otherwise directed by the board for good cause, such as, circumstances which necessitate an immediate safeguarding of deferred amounts. Whenever deferred amounts are not invested in accordance with the participants' designated preferences, all affected participants shall be advised by the administrator in writing of the action taken by the board and the reason for the action. [Eff 5/12/83; comp OCT -7 2023 ] (Auth: HRS §88E­ 3) (Imp: HRS §§88E-3, 88E-9) §14-44-16 Transfer of amounts previously deferred. A participant may submit a written request to the administrator to transfer amounts previously deferred under the plan from one investment product to another investment product available under the plan. However, the transfer shall only be allowed in accordance with the provisions of the contracts pertaining to the appljcabl~ investment products. [Eff 5/12/83; comp Ot,;T - · ] (Auth: HRS §88E­ 3) (Imp: HRS §§88E-3, 88E-9) SUBCHAPTER 4 ACCOUNTS AND REPORTS