Employee Retirement Income Security Act Section 404(c)

{
  "id": "MLC-T-INS-001295",
  "term": "Employee Retirement Income Security Act Section 404(c)",
  "field": "Insurance and risk management",
  "definition": "A provision of the Employee Retirement Income Security Act (ERISA) that provides a safe harbor for fiduciaries of defined contribution plans, such as 401(k)s, from liability for losses resulting from participants' investment decisions. To qualify, plans must offer a broad range of investment options, allow participants control over their investments, and provide sufficient information. This shifts investment risk to the participant.",
  "url": "https://mlchart.com/terminology/insurance/employee-retirement-income-security-act-section-404-c/"
}