30 pages. Excerpt: This document contains a final regulation that implements recent amendments to [ERISA] enacted as part of the Pension Protection Act of 2006, Public Law 109– 280, under which a participant in a participant directed individual account pension plan will be deemed to have exercised control over assets in his or her account if, in the absence of investment directions from the participant, the plan invests in a qualified default investment alternative. A fiduciary of a plan that complies with this final regulation will not be liable for any loss, or by reason of any breach, that occurs as a result of such investments. This regulation describes the types of investments that qualify as default investment alternatives[.]

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