How's a plan trustee supposed to know his duties?
ERISA law is codified in U.S. Code §1104(a)(1) and Code of Federal Regulations §2550.404a-1. All ERISA litigation points back to these statutes, and all sound plan governance processes are built upon them. The plan trustee's fiduciary duties identified therein form the basis for each policy and procedure. Yet the code doesn't explicitly state how the trustee is to fulfill each duty.
This content will teach you:
- What specifically the trustee's duties are.
- How the U.S. Code and CFR correspond to each other and each duty.
- How the trustee and investment committee might establish a policy addressing each duty.