Plan Fiduciary
/ˈplæn ˌfɪdjuːˈʃiːˌɛri/
Definitions
- (n.) An individual or entity, under ERISA or similar law, who exercises discretionary control or authority over a retirement plan's management or assets, or who provides investment advice for a fee.
The plan fiduciary is legally obligated to act solely in the best interests of plan participants.
Forms
- plan fiduciary
- plan fiduciaries
Related terms
See also
Commentary
The term 'plan fiduciary' is primarily used in employee benefit and retirement plan contexts, especially under ERISA, highlighting the person's legal responsibility to beneficiaries.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.