; (dd) an explanation of how a participant or beneficiary may obtain additional information, in writing or electronically, about their investment alternatives; and (ee) a copy of the annuity contract. (III) The fiduciary allocates not more than 50 percent of any periodic contribution or, immediately after a rebalancing of account investments, 50 percent of the value of the assets of the account, to the annuity contract (or, as applicable, to the portion thereof to which a liquidity restriction applies after the 180-day period in subclause (I)). (ii) Definition of annuity contract For purposes of this paragraph, the term annuity contract means a contract (or provision or feature thereof) that— (I) is issued by an insurer qualified to do business in a State; and (II) provides for the payment of guaranteed benefits annually (or more frequently) for a fixed term or for the remainder of the life of the participant or beneficiary or the joint lives of the participant and the participant’s designated beneficiary. (D) Effective date The amendments made by subsection (a) shall take effect on the date of the enactment of the Lifetime Income For Employees Act . .