A Fiduciary must :
Act solely in the interest of participants and beneficiaries
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)
Diversify the plan's investments, if prudent
Follow the provisions of the plan's documents (unless inconsistent with ERISA)
Assure that plan expenses are reasonable and necessary
Avoid prohibited transactions
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.