ERISA fiduciary

In accounting, ERISA fiduciary means anyone who exercises discretion over a plan or its assets, starting with the named fiduciary the plan documentBenefitsPlan documentThe written instrument every ERISA plan must be established and maintained under, naming the fiduciaries and stating how the plan works. An insurance certificate alone often is not one must name. Must act solely in participants' interest, for the exclusive purpose of providing benefits and paying reasonable plan expenses, prudently, diversifying investments, and by the plan's terms.