Liability and responsibility of an ERISA fiduciary
| What is the scope of an ERISA fiduciary's responsibility? |
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A fiduciary may have no responsibility as to any assets of the plan with respect to which the fiduciary does not have discretionary authority, control, or responsibility; does not exercise any authority or control; does not render investment advice for a fee or other compensation; and does not have any authority or responsibility to render such investment advice. The personal liability of a fiduciary who is not a named fiduciary is generally limited to the fiduciary functions that the fiduciary performs with respect to the plan. |
