How are the actions of the named fiduciary judged?
ERISA establishes a number of standards against which a fiduciary’s behavior and judgment is evaluated. Fiduciaries must act solely in the interest of the plan participants and exclusively for the purpose of providing pension benefits to the plan participants. Fiduciaries must avoid any conflicts of interest and they must act as prudent experts when making decisions. Fiduciaries must also reasonably defray expenses of the plan and diversify the assets of the plan.
