401 (k) Plans: Am I a Fiduciary and What Does it Mean?

摘要

Lately, fiduciaries are being put under a high degree of scrutiny for their actions, or more importantly, their inactions. What follows will help you determine if you are a fiduciary, what to do if you are and what your liability is. On Sept. 11, 2006 a single St. Louis law firm filed a series of class action lawsuits that have been described as "an all-out assault on the fee structure employed by most 401 (k) plans." The targets of these lawsuits are some large plan sponsors and the fiduciaries of their 401 (k) plans.