Under ERISA, fiduciaries must:
-act solely in the interest of and for the exclusive purpose of benefiting, the plan participants and beneficiaries;
-act with the care, skill, prudence and diligence of a prudent person acting in like capacity;
-diversify the plan's investments to protect it from the risk of substantial loss;
-act in accordance with the provisions of the plan documents to the extent that the documents comply with ________;
-refrain from engaging in prohibited transactions.
Click on the arrows to vote for the correct answer
A. B. C. D.Explanation
ERISA establishes several guidelines for fiduciary conduct with respect to employee benefit plans. These principles evolved from the common law of trusts, as interpreted by state courts and pre-ERISA requirements for the tax qualification of plans. Fiduciaries must observe these guidelines in all aspects of their dealings with a plan or its assets.