Fiduciary

Definition

Any person who does any of the following:

• Exercises any discretionary authority or discretionary control respecting management of such plan or exercises any authority or control respecting management or disposition of its assets
• Renders investment advice for a fee or other compensation, direct or indirect, with respect to any moneys or other property of such plan, or has any authority or responsibility to do so, or
• Has any discretionary authority or discretionary responsibility in the administration of such plan.

Referring Cite

IRC §4975(e)(3), ERISA §3(21)(A);

Additional Helpful Information

• Meeting Your Fiduciary Responsibilities
• Selecting And Monitoring Pension Consultants - Tips For Plan Fiduciaries
• Statement of Assistant Secretary Ann L. Combs on the Duties of Fiduciaries in Light of Recent Mutual Fund Investigations
• A fiduciary  includes any person designated under ERISA § 405(c)(1)(B)

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