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Who is a plan fiduciary and can a fiduciary be held liable for a breach of duty?

April 26, 2017breach duty Fiduciary held liable Plan

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Who is a plan fiduciary and can a fiduciary be held liable for a breach of duty?

1 Answer

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10 Posted

A person is a fiduciary for a plan “to the extent” he or she exercises any discretionary authority or control over management of the plan or the assets of the plan. A fiduciary who breaches his/her fiduciary responsibility to a plan is personally liable to the plan for any losses caused by his/her breach of duty.