Erisa Fiduciary Answer Book

Be aware of your fiduciary responsibilities and how to handle them safely with ERISA Fiduciary Answer Book.

This expert reference book clearly explains every aspect of ERISA fiduciary duty, providing information, guidance, and advice on prohibited transactions, investments, fiduciary liability, IRS, DOL, and PBGC requirements, and more.

It answers more than 400 fiduciary-related questions, including:

• When are attorneys, accountants, consultants, and other professional service providers considered plan fiduciaries?
• What laws govern the conduct of fiduciaries?
• When is a fiduciary personally liable for a transaction prohibited by ERISA or the Internal Revenue Code?
• May a plan release a fiduciary from liability?
• What is the legal distinction between "substantive prudence" and "procedural prudence"?
• May a fiduciary face criminal liability for a breach of fiduciary duty?

ERISA Fiduciary Answer Book has been updated to include:

• Determination of fiduciary status regarding (i) charging of infrastructure fees to mutual funds offered by plans, or (ii) when advising on rollovers to IRAs
• New question on how courts have analyzed application of ERISA's standard of prudence regarding plan investments and fees in 401(k) and 403(b) plans
• New question on how courts have analyzed whether and when prudence requires a fiduciary to diversify or eliminate investments in non-employer single-stock funds (often orphan funds after a spin-off or divestiture)
• Whether payment of fees to a service provider pursuant to a pre-existing contract is a prohibited transaction under ERISA Section 406(a)(1)(A)
• Whether plaintiffs can pursue class claims regarding funds in 401(k) plan in which they did not invest and whether they have standing to bring such claims under Article III of the United States Constitution
• Whether ERISA fiduciary breach claims brought on behalf of the plan may be subject to mandatory individual arbitration
• Whether ERISA preempts state regulation of Pharmacy Benefit Managers that service ERISA plans
• Discussion of outgoing administration's amendment of the long-standing Investment Duties regulation under Title I of ERISA via the "Financial Factors in Selecting Plan Investments" regulation and on proxy voting related to ESG issues, and the related non-enforcement policy issued by the new administration
• Discussion of the impact of COVID guidance on retirement plans and health plans