; (ii) all contributions made to such Account for the benefit of the participant; and (iii) the total amount of the allocations made to and reductions made in the account pursuant to paragraph (3), over (B) the amounts paid out of the UP Retirement Account with respect to such participant. (3) Adjustments Pursuant to regulations prescribed by the Executive Director, the Executive Director shall allocate to each account an amount equal to a pro rata share of the net earnings and net losses from each investment of sums in the UP Account Fund attributable to sums credited to such account, reduced by an appropriate share of the administrative expenses paid out of the net earnings, as determined by the Executive Director. (h) Investments The following investment rules shall apply with respect to an UP Retirement Account: (1) The Board shall make available a reasonable menu of investment products, including low-fee index funds, sufficient to provide participants with the opportunity to diversify their UP Retirement Accounts in order to minimize the risk of large losses. (2) The default investment option for participants shall minimize fees, be diversified, and automatically reduce risk to the participant as the participant approaches retirement age. (3) UP Retirement Accounts shall allow participants to change or customize investment allocation. (4) The board shall select investments solely in the interests of participants and beneficiaries and for the exclusive purpose of providing benefits and deferring reasonable expenses with the prevailing care, skill, prudence, and diligence that a prudent individual acting in a like capacity and familiar with such matters would use. (i) Distributions (1) In general The Board shall ensure that investors are offered forms of distribution that include— (A) monthly income for life for the participant or surviving spouse, if applicable; (B) monthly income until the normal or maximum Social Security retirement age for the participant or surviving spouse, if applicable