(Image courtesy of jannoon028 / FreeDigitalPhotos.net)

The Employee Retirement Income Security Act is now 40 years old. The types of investments available to employee benefit plans have evolved in that time. What does managing plan assets and fiduciary liability under ERISA look like these days?

The statute wisely refrains from establishing lists of specific securities or other assets that are either permitted or prohibited. Instead, ERISA requires fiduciaries to select investments in accordance with the duty of prudence. That is, with the care, skill, prudence and diligence that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2022 ALM Global, LLC. All Rights Reserved.