Under ERISA, what is the general rule about a fiduciary receiving compensation from a third party?
QUESTION
What is the ERISA "exclusive benefit" rule for plan fiduciaries?
QUESTION
What is an ERISA fiduciary, in functional terms, based on actions taken?
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ANSWER
One who exercises discretionary authority over plan assets/administration. ERISA defines a fiduciary functionally as anyone exercising discretion over plan management or assets, regardless of formal title.