What is the duty of exclusive benefit under ERISA

Mar 26, 2025 ... Caring for your principal's interest: As a fiduciary, you're responsible for caring for the principal's interests, which involves informing ... Pursuant to this statutory authority, the OCC has issued regulations that describe the multi-state fiduciary authority of national banks (12 CFR 9.7) and FSAs ( ... Sep 3, 2024 ... Fiduciary duty essentially means that you are responsible for acting and doing things to benefit someone else. Fiduciary duty is imposed whenever confidence is reposed on one side in a contractual relationship, so as to allow that side to exert influence and dominance ... Employer/plan sponsor. Employers who maintain plans, also referred to as plan sponsors, are typically fiduciaries by reason of being named fiduciaries or by ... The Public Fiduciary assumes these functions for individuals who have been determined to be unable to handle their own personal business affairs, when there are ... Oct 18, 2023 ... What Fiduciary Duties Do Real Estate Professionals Owe? · Representing the interests of the client; · Ensuring all parties to a transaction ... A fiduciary is a person or organization that is legally obligated to act on your behalf and put your own financial interests before their own. 8 days ago ... Fiduciary applies to any situation in which one person justifiably places confidence and trust in someone else, and seeks that person's help or advice in some ... The primary responsibility of fiduciaries is to run the plan solely in the interest of participants and beneficiaries and for the exclusive purpose of providing ...