WHAT ARE THE OBLIGATIONS OF A FIDUCIARY?
(a) Prudent man standard of care. (1) Subject to sections 1103(c) and (d), 1342, and 1344 of this title, a fiduciary shall discharge his duties with respect to a plan solely in the interest of the participants and beneficiaries and – (A) for the exclusive purpose of: (i) providing benefits to participants and their beneficiaries; and (ii) defraying reasonable expenses of administering the plan; (B) with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims; (C) by diversifying the investments of the plan so as to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so; and (D) in accordance with the documents and instruments governing the plan insofar as such documents and instruments are consistent with the provisions of this subchapter and subchapter III of t
Related Questions
- How does Anthem notify a potential Qualifying Beneficiary of their rights and obligations under COBRA for those plans that have contracted with Anthem to provide COBRA administration services?
- Will we satisfy our fiduciary obligations by obtaining and reviewing copies of the relevant sections of an issuers annual report on Form 10-K and quarterly report on Form 10-Q?
- WHAT ARE THE OBLIGATIONS OF A FIDUCIARY?
