§ 20-1410 No guarantees permitted; potential losses.
AC § 20-1410
Except as otherwise required by federal or state law, no person including, but not limited to, a participating employer, any person retained by the board pursuant to section 20-1405, a member of the retirement savings board, the board itself, the comptroller, any person retained by the comptroller pursuant to section 20-1406, the city, or any representative of any of the preceding shall guarantee a rate of return or interest for any contribution made to the retirement savings program. In addition, neither participating employers, the board, its members, the comptroller, nor the city or any representative of the board, its members or the city shall be liable for any loss incurred by a participant, or any other individual or corporation, as a result of participating in the retirement savings program; further, any liability of an administrator for any such loss shall be confined to the liability defined by this chapter or by the agreement between the board and an administrator. (L.L. 2021/052, 5/11/2021, eff. 8/9/2021)
