Erisa Section 3 21

Under erisa section 3 21 a fiduciary is a person who with respect to employee pension plans has discretionary authority or control over the plan or its assets.

Erisa section 3 21. Erisa requires plans to provide participants with plan information including important information about plan features and funding. Section 3 21 of erisa generally defines an erisa fiduciary as someone who exercises any discretionary authority or control regarding the management of an employee benefit plan or the disposition of its assets. The 21st definition erisa section 3 21 is the definition of fiduciary.

A fiduciary under section 3 21 also refers to someone who renders investment advice in exchange for compensation. Erisa section 3 21 defines the term fiduciary and section 3 38 sets forth the requirements for serving as an investment manager to a qualified retirement plan. 3 21 fiduciary a 3 21 fiduciary is an investment adviser and co fiduciary with the company fiduciary business owner board or named fiduciary.

Section 3 of erisa contains the definitions of the terms used in the act. The employee retirement income security act of 1974 erisa is the major law governing the operation of employee benefit plans. Furthermore the person gives.

Section 3 21 of erisa defines a fiduciary as an individual who exercises any discretionary authority or control regarding the management of an employee benefit plan or the disposition of its assets. A 3 21 investment advisor doesn t completely protect the plan sponsor from fiduciary liability to the degree a 3 38 would. And yet the services of these similarly named fiduciaries and the level of protection they provide are quite different.

The employee retirement income security act of 1974 erisa is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans. Instead they may share some of the liability related to investment decision making with the plan sponsor. Sets minimum standards.