; (II) the liquidity and current return of the investments of the plan relative to the anticipated cash flow requirements of the plan; and (III) the projected return of the investments of the plan relative to the funding objectives of the plan. (iii) How the chosen non-pecuniary factor is consistent with the interests of participants and beneficiaries in their retirement income or financial benefits under the plan. (C) For purposes of this paragraph, the term pecuniary factor means a factor that a fiduciary prudently determines is expected to have a material effect on the risk or return of an investment based on appropriate investment horizons consistent with the plan's investment objectives and the plan's funding policy established pursuant to section 402(b)(1). . (b) Effective date The amendment made by this section shall apply to investments made after the date that is 60 days after the date of enactment of this Act.