"Most of the safe harbor's conditions focus on the role of the state or qualified political subdivision. For instance: [1] The program must be specifically established pursuant to state or qualified political subdivision law. [2] The program must be implemented and administered by the st ate or qualified political subdivision. [3] The state or qualified political subdivision must be responsible for investing the employee savings or for selecting investment alternatives from which employees may choose. [4] The state or qualified political subdivision must be responsible for the security of payroll deductions and employee savings.... The conditions applicable to the political subdivisions are essentially the same conditions that apply to the states under the prior final rule."

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