2012 US Code
Title 29 - Labor
Subchapter I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS (§§ 1001 - 1191c)
Subtitle B - Regulatory Provisions (§§ 1021 - 1191c)
Part 4 - fiduciary responsibility (§§ 1101 - 1114)
Section 1102 - Establishment of plan

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Publication TitleUnited States Code, 2012 Edition, Title 29 - LABOR
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 29 - LABOR
Subtitle B - Regulatory Provisions
part 4 - fiduciary responsibility
Sec. 1102 - Establishment of plan
Containssection 1102
Laws in Effect as of DateJanuary 15, 2013
Positive LawNo
Source CreditPub. L. 93-406, title I, §402, Sept. 2, 1974, 88 Stat. 875.
Statutes at Large Reference88 Stat. 875
Public Law ReferencePublic Law 93-406

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fiduciary responsibility - 29 U.S.C. § 1102 (2012)
§1102. Establishment of plan (a) Named fiduciaries

(1) Every employee benefit plan shall be established and maintained pursuant to a written instrument. Such instrument shall provide for one or more named fiduciaries who jointly or severally shall have authority to control and manage the operation and administration of the plan.

(2) For purposes of this subchapter, the term “named fiduciary” means a fiduciary who is named in the plan instrument, or who, pursuant to a procedure specified in the plan, is identified as a fiduciary (A) by a person who is an employer or employee organization with respect to the plan or (B) by such an employer and such an employee organization acting jointly.

(b) Requisite features of plan

Every employee benefit plan shall—

(1) provide a procedure for establishing and carrying out a funding policy and method consistent with the objectives of the plan and the requirements of this subchapter,

(2) describe any procedure under the plan for the allocation of responsibilities for the operation and administration of the plan (including any procedure described in section 1105(c)(1) of this title),

(3) provide a procedure for amending such plan, and for identifying the persons who have authority to amend the plan, and

(4) specify the basis on which payments are made to and from the plan.

(c) Optional features of plan

Any employee benefit plan may provide—

(1) that any person or group of persons may serve in more than one fiduciary capacity with respect to the plan (including service both as trustee and administrator);

(2) that a named fiduciary, or a fiduciary designated by a named fiduciary pursuant to a plan procedure described in section 1105(c)(1) of this title, may employ one or more persons to render advice with regard to any responsibility such fiduciary has under the plan; or

(3) that a person who is a named fiduciary with respect to control or management of the assets of the plan may appoint an investment manager or managers to manage (including the power to acquire and dispose of) any assets of a plan.

(Pub. L. 93–406, title I, §402, Sept. 2, 1974, 88 Stat. 875.)

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