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Prudent Expert Act

Revised version of the prudent man rule required by ERISA to guide managers of pension and profit sharing portfolios. The main addition is that the manager must act as someone with familiarity with matters relating to the management of money, not just prudence.

Related information about Prudent Expert Act:
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    Prudent Expert Act. Requires the fiduciary of a defined contribution retirement plan to use "care, skill, prudence and diligence", and to act in the same way that ...
     
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