(1) A covered employer or other employer is not and shall not be liable for or bear responsibility for:(a) An employee’s decision to participate in or not to participate in the program or a participant’s specific elections under the program;(b) Participants’ or the State Treasurer’s investment decisions;(c) The administration, investment, investment returns, or investment performance of the program, including, without limitation, any interest rate or other rate of return on any contribution or account balance, provided they play no role;(d) The program design or the benefits paid to participants;(e) Individuals’ awareness of or compliance with the conditions and other provisions of the tax laws that determine which individuals are eligible to make tax-favored contributions to IRAs, in what amount, and in what time frame and manner; or(f) Any loss, failure to realize any gain, or any other adverse consequences, including, without limitation, any adverse tax consequences or loss of favorable tax treatment, public assistance, or other benefits, incurred by any person as a result of participating in the program.
(a) An employee’s decision to participate in or not to participate in the program or a participant’s specific elections under the program;
(b) Participants’ or the State Treasurer’s investment decisions;
(c) The administration, investment, investment returns, or investment performance of the program, including, without limitation, any interest rate or other rate of return on any contribution or account balance, provided they play no role;
(d) The program design or the benefits paid to participants;
(e) Individuals’ awareness of or compliance with the conditions and other provisions of the tax laws that determine which individuals are eligible to make tax-favored contributions to IRAs, in what amount, and in what time frame and manner; or
(f) Any loss, failure to realize any gain, or any other adverse consequences, including, without limitation, any adverse tax consequences or loss of favorable tax treatment, public assistance, or other benefits, incurred by any person as a result of participating in the program.
(2) No covered employer or other employer shall be, or shall be considered to be, a fiduciary in relation to the program or trust or any other arrangement under the program.