N.J. Admin. Code § 17:6-6.6

Current through Register Vol. 56, No. 23, December 2, 2024

Section 17:6-6.6 - Plan Administrator not responsible

(a) If any person, including a DSP, provides any investment education or investment information or investment advice of any kind, the Plan Administrator shall not be liable for any loss or liability arising out of such investment education or investment information or investment advice.

(b) To the extent of the participant's, beneficiary's, or alternate payee's investment direction, the Plan Administrator is relieved of any fiduciary responsibility and every kind of liability, and is not responsible for any damage or loss or expense or other claim which may arise from any participant's, beneficiary's, or alternate payee's investment direction or failure to exercise his or her duty of investment direction.