The Law Of Directed Trustees Under ERISA : A Proposed Blueprint For The Federal Courts

ERISA requires that employee benefit plan assets must be held in a trust by at least one trustee. An ERISA trustee may have discretion to manage and control the plan's assets, or the trustee may manage and control the plan's assets pursuant to the directions of another ERISA fiduciary. This article examines the fiduciary responsibilities that ERISA imposes on directed trustees. The article presents a theoretical model to assist the federal courts in imposing fiduciary responsibilities upon directed trustees that are consistent with ERISA's statutory language and policy objectives