A statutorily prohibited transaction exemption under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC), introduced by the Pension Protection Act of 2006. This exemption permits fiduciaries to provide investment advice, for a fee, to plan participants in an individual account plan (such as a 401(k) plan) without violating the prohibited transaction rules under ERISA and the IRC. If all of the requirements of the exemption are met, the plan sponsor should be protected against liability for specific advice given to participants by the fiduciary adviser (ERISA § 408(b)(14) and IRC § 4975(d)(17)).