Who is a plan fiduciary?
Plan fiduciaries have responsibility for the establishment and ongoing administration of the plan, as well as the selection of investment options and service providers. Common examples of fiduciaries include: • Plan Trustee an individual or entity that holds title to assets in trust for the benefit of plan participants and their beneficiaries. A trustee is always a fiduciary. • Plan Administrator a person or entity responsible for the day-to-day administration of the plan and generally designated in the plan document. The Plan Administrator should not be confused with a Third Party Administrator (TPA). A TPA is typically not a fiduciary.
