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A Fiduciary must :
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Act solely in the interest of participants and beneficiaries
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Act with the "care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use . . ."
ERISA Section 404(a)(1)(B)
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Diversify the plan's investments, if prudent
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Follow the provisions of the plan's documents (unless inconsistent with ERISA)
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Assure that plan expenses are reasonable and necessary
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Avoid prohibited transactions
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W H A T A R E T H E R E S P O N S I B I L I T I E S O F A F I D U C I A R Y ?
Fiduciaries can be personally liable for losses for failing to live up to ERISA's fiduciary standards.
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