Prudent Investing and ERISA: Fees and the Fiduciary Duty of Care

39 Pages Posted: 24 Jul 2015 Last revised: 25 Jul 2015

Date Written: June 1, 2015

Abstract

This paper shows that, under well-established trust law principles, cost is only one of an array of prudent investing factors a fiduciary must consider under the fiduciary duty of care. This paper then discusses the duty of care under ERISA and shows that ERISA applies a similar duty of care. The duty of care under both trust law and ERISA rejects “least cost” as the governing standard.

Keywords: ERISA, fees, trust law, duty of care, least cost, fiduciary, litigation

Suggested Citation

Fein, Melanie L., Prudent Investing and ERISA: Fees and the Fiduciary Duty of Care (June 1, 2015). Available at SSRN: https://ssrn.com/abstract=2635090 or http://dx.doi.org/10.2139/ssrn.2635090

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