(A) To the extent that an account is held under an allocated investment (as defined below), all income, gains, losses, other elements of investment return or contract value and expenses shall be allocated as provided by the investment.
(B) To the extent that an account is held under an unallocated investment, all income, gains, losses, other elements of investment return or contract value and expenses shall be allocated as provided by a written procedure adopted by the Plan Administrator, which may be an agreement between the Plan Administrator and the agent.
(Ord. NIRC 97-1, passed 1-15-1997)