What are the legal duties of joint plan trustees?
Answer…The trustees must adhere to the general law regarding trusts as well as the specific terms of the Plan Text. Trustees must act personally and cannot delegate key decisions although they may employ others to carry out and implement policy decisions. The law imposes on all Trustees a duty of care ,a duty of loyalty to the trust ,a duty of impartiality ,a duty to safeguard and invest assets ,and a duty to inform beneficiaries.
