Investment policies and selection of asset managers
Title II — The American Worker Retirement Plan Investment Management System
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(a) Investment Policies The Board shall develop investment policies under section 201(f)(1) which provide for— (1) prudent investments suitable for accumulating funds for payment of retirement income; and (2) low administrative costs. (b) Asset managers The Board shall select asset managers to manage the Fund, subject to the following conditions: (1) The Board shall select a number of asset managers necessary to ensure that no asset manager shall be responsible for managing the greater of— (A) $500,000,000,000; or (B) 10 percent of the Fund’s assets. (2) The Board shall limit any contract with an asset manager to a maximum of 5 years.