405(c) or General Safe Harbor Provisions

When investment decisions are delegated, the following safe harbor requirements apply:

• Plan must allow for delegation of investment decisions
• Procedures for delegation must be prudent
• Investment decisions must be delegated to “prudent experts”
• Experts must be selected following a prudent process
• Prudent experts must be given discretion
• If prudent expert is an RIA, it must acknowledge fiduciary status
• Prudent experts must be monitored