The administrative service agency shall establish and maintain
one or more beneficiary accounts, including, as applicable, separate
before-tax deferral accounts, Roth accounts (to the extent applicable),
and rollover accounts with respect to each beneficiary of a deceased
participant. Each such account shall record the value of the portion
of the deceased participant's plan benefit allocable to each of the
beneficiary's accounts, the value of the portion of the plan benefit,
if any, that is invested in each investment option (both in the aggregate
and by account) and other relevant data pertaining thereto. Each beneficiary
shall be furnished with a written statement of his or her accounts
in the same manner set forth in § 50-6.1B.
The administrative service agency shall establish and maintain
one or more alternate payee accounts, including, as applicable, separate
before-tax deferral accounts, Roth accounts (to the extent applicable),
and rollover accounts with respect to each alternate payee. The alternate
payee account shall separately account for all amounts received (i)
from the participant's rollover account and (ii) from all amounts
rolled into the plan by a spousal alternate payee, pursuant to § 50-5.1
or 50-5.2. Each such account shall record the value of the portion
of the participant's plan benefit allocable to the alternate payee's
account, the value of the portion of the plan benefit, if any, that
is invested in each investment option (both in the aggregate and by
account) and other relevant data pertaining thereto. Each alternate
payee shall be furnished with a written statement of his or her alternate
payee accounts in the same manner set forth in § 50-6.1B.
The establishment and maintenance of, or allocations and credits
to, the account of any account participant shall not vest in such
account participant or beneficiary of a participant any right, title
or interest in and to any Trust Fund assets or plan benefits except
at the time or times and upon the terms and conditions and to the
extent expressly set forth in the plan and the trust agreement and,
in the case of an alternate payee account, the express terms of the
qualified domestic relations order.