Common use of Institution Representations Clause in Contracts

Institution Representations. In connection with Fidelity’s Product and Services, Institution represents: A. With respect to plans subject to Title I of ERISA, Mutual of America does not and has never acknowledged or represented ERISA fiduciary status in providing its products and services. Such products and services are made available to plan fiduciaries of a plan, without regard to the individualized needs of the plan, its participants, or beneficiaries as a platform from which a plan fiduciary may select or monitor investment alternatives into which plan participants or beneficiaries may direct the investment of assets held in, or contributed to, their individual accounts. B. It is organized as one of the following types of entities: i. A bank as defined in section 202 of the Investment Advisers Act of 1940 or similar institution that is regulated and supervised and subject to periodic examination by a State or Federal agency; ii. An insurance carrier which is qualified under the laws of more than one state to perform the services of managing, acquiring or disposing of assets of a Plan; iii. A broker-dealer registered under the Securities Exchange Act of 1934 To the extent the Institution (including its affiliates, employees, associated persons, or other agents) provides “investment advice” to Retirement Customers (within the meaning of 29 CFR 2510.3-21(a)), (a) it is acting as a fiduciary under the Fiduciary Rule and is responsible for exercising independent judgment in evaluating any transactions and (b) with respect to the Products and Services and any Fidelity communications with respect thereto, it is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies.

Institution Representations. In connection with Fidelity’s Product and Services, Institution represents: A. With respect to plans subject to Title I of ERISA, Mutual of America does not and has never acknowledged or represented ERISA fiduciary status in providing its products and services. Such products and services are made available to plan fiduciaries of a plan, without regard to the individualized needs of the plan, its participants, or beneficiaries as a platform from which a plan fiduciary may select or monitor investment alternatives into which plan participants or beneficiaries may direct the investment of assets held in, or contributed to, their individual accounts. B. It is organized as one of the following types of entities: i. A bank as defined in section 202 of the Investment Advisers Act of 1940 or similar institution that is regulated and supervised and subject to periodic examination by a State or Federal agency; ii. An insurance carrier which is qualified under the laws of more than one state to perform the services of managing, acquiring or disposing of assets of a Plan; iii. A broker-dealer registered under the Securities Exchange Act of 1934 To the extent the Institution (including its affiliates, employees, associated persons, or other agents) provides “investment advice” to Retirement Customers (within the meaning of 29 CFR 2510.3-21(a2l(a)), (a) it is acting as a fiduciary under the Fiduciary Rule and is responsible for exercising independent judgment in evaluating any transactions and (b) with respect to the Products and Services and any Fidelity communications with respect thereto, it is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies.