During the participant’s life, the participant shall direct the investment of his or her account. During the participant’s disability or incompetence, the person who has authority to act for the participant under a power-of-attorney accepted by the Plan Administrator or the agent according to § 35.037 or, if there is no such agent, the person that is the duly appointed and currently serving conservator or guardian of the estate of the participant shall direct the investment of the participant’s account. After the participant’s death, the beneficiary shall direct the investment of his, her or its account or each beneficiary shall direct the investment of his, her or its segregated account. A participant or beneficiary may delegate investment responsibility for all of his, her or its account to an agent or attorney-in-fact by giving written notice acceptable to the Plan Administrator and furnishing a power-of-attorney that is accepted by the Plan Administrator according to § 35.037. A participant or beneficiary cannot delegate investment responsibility for part of his, her or its account. Solely for the purposes of this subchapter and solely for convenience of reference, the person that has the duty or holds a power to give investment direction is referred to as the “investor”.
(Ord. NIRC 97-1, passed 1-15-1997)