ERISA requires a trustee to act “solely in the interest” of a plan’s participants and beneficiaries, and to discharge his duties “with the care, skill, prudence, and diligence… that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of like character…” Failing to uphold these fiduciary standards can cause a trustee to be held personally liable for any losses to the plan caused by his breach.
Get help with reducing your liability as a fiduciary.
Click the button below to view our Whitepaper and then Contact Us to find out how we can help you to offer the best benefits to retain your most talented employees.