; (2) the services to account holders offered by such trustee, including available investment advice; (3) the fees charged by such trustee; and (4) the importance of maintaining a diversity of trustees. (b) Certification of trustees The Director may not award a contract to an entity under subsection (a) unless the Director has certified such entity under this subsection. The Director shall establish certification criteria which shall include the following: (1) Expertise, including the professional qualifications, business model, experience, and training of the trustee and any service providers that the trustee intends to use. (2) Registration, licensing, and financial soundness demonstrating that participant funds would be handled by a regulated financial entity. (3) Reputation and customer service, including records of comments or complaints from employers and participants, timely consideration and resolution of complaints filed, and independent rating or accreditations. (c) Lifecycle fund A lifecycle fund described in this subsection is a fund that— (1) is comprised of an appropriate mix of index funds; (2) is automatically adjusted over time during the time horizon of the fund; (3) strikes a balance between expected risk and return over the time horizon of the fund; and (4) has an initial target retirement date that is consistent with retirement at age 65. (d) Fiduciary responsibility A trustee of a portable retirement and investment account shall act as a fiduciary to the account holder and shall discharge his duties with respect to the account in the sole interest of the account holder under rules similar to those applicable to an ERISA fiduciary under section 404 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1104 ). 4. Establishment