20 Steps to 404(c) Compliance The participant has an opportunity to obtain written confirmation of his instructions The person to whom the instructions are given is an identified plan fiduciary who is obligated to comply with the instructions The participant is provided by an identified plan fiduciary with the following: (1) An explanation that the plan is intended to be a 404(c) plan; (2) An explanation that the fiduciaries of the plan may be relieved of liability for losses; (3) A description of the investment alternatives available under the plan; (4) A general description of the investment objectives and risk and return characteristics of each designated alternative; (5) Identification of any designated investment managers; (6) An explanation about giving investment instructions; (7) A description of any transaction fees and expenses which affect the participant's account balance; (8) The name, address, and phone number of the plan fiduciary responsible for providing information; (9) Specified information regarding employer securities; (10) A copy of the most recent prospectus provided to the plan for investment alternatives subject to the Securities Act of 1933; (11) Any materials provided to the plan relating to the exercise of voting, tender or similar rights. The participant is able to obtain upon request: (1) A description of the annual operating expenses of each designated investment alternative; (2) Copies of any prospectuses, financial statements and reports provided to the plan; (3) A list of the assets comprising the portfolio of each designated investment alternative; (4) Information concerning the value of shares or units in designated investment alternatives; (5) Information concerning the value of shares or units in designated investment alternatives held in the account of the participant. Plan permits participants to give investment instructions with a frequency which is appropriate in light of market volatility. The core investment alternatives, constituting a broad range, permit instructions at least once within any three-month period.