ERISA Section 404(c) may exempt defined contribution plan fiduciaries from liability resulting from losses due to employee
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ERISA Section 404(c) may exempt defined contribution plan fiduciaries from liability resulting from losses due to employee directed investments if they meet all of the following requirements EXCEPT:
- Participants are given the opportunity to exercise control over assets in their personal accounts.
- Participants are given reasonable opportunities to give investment instruction.
- The plan offers at least three diversified categories of investment that have materially different risk and return characteristics.
- The fiduciary has selected an investment advisor and has delegated all fiduciary responsibility to that advisor.
- Company stock, if offered as an investment option, cannot be used to meet the diversification requirements of ERISA Section 404(c)
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