ERISA Fiduciary Duties


This practice note identifies the various fiduciaries of employee benefit plans under the Employee Retirement Income Security Act (ERISA), their fiduciary duties and obligations, and potential liability and penalties for breach of fiduciary duties. ERISA imposes these duties and obligations (and liability and penalties) on fiduciaries of ERISA-governed employee benefit plans to protect the interests of participants and beneficiaries in such plans.