The Arbitrator as a Fiduciary Under the Employee Retirement Income Security Act of 1974: A Misguided Approach
24 Pages Posted: 25 Jul 2012 Last revised: 3 Dec 2012
Date Written: 1982
This Article examines the soundness of the view that a Taft-Hartley arbitrator is potentially a fiduciary under ERISA. The Article first briefly describes the fiduciary responsibility requirements of ERISA, and then examines the Department of Labor's position that an arbitrator may be a fiduciary under ERISA. Next, this Article raises several considerations that cast doubt on the Labor Department's view, and concludes that the arbitrator cannot be a fiduciary under ERISA and thus should not be subject to the risks of personal liability that inhere to a fiduciary.
Keywords: arbitrators, fiduciaries, ERISA, personal liability
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