34 Tex. Admin. Code § 87.34 - Independent Investment Advice
(a) The
plan administrator may offer independent investment advice through a qualified
independent advisor in accordance with applicable federal
regulations.
(b) Payment for
independent investment advice is allowed only from the revised plan.
(c) Applicability.
(1) This section applies to the Texa$aver
401(k) Plan and Texa$aver 457 Plan, as amended and adopted by the Employees
Retirement System of Texas.
(2) The
investment advisor(s) used by the plan administrator must meet reasonable
qualifications, and agree to act as a fiduciary on behalf of the
participants.
(3) Payments for
investment advice under this rule may only be made when the plan administrator
has determined that it considers the payment to be a reasonable plan
expense.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.