Excerpt: [E]ven though ERISA § 404(c)(5) was created with automatic enrollment arrangements in mind, it applies to other situations in which default investment allocations may be made. The preamble to the final regulations provides the following examples of these 'other' situations: 'The failure of a participant or beneficiary to provide investment direction following the elimination of an investment alternative or a change in service provider, the failure of a participant or beneficiary to provide investment instruction following a rollover from another plan, and any other failure of a participant to provide investment instruction.'

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