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fiduciary |
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fiduciary (fidoo´shēerē), n a person who has a duty to act primarily for another's benefit, as a trustee. Also, pertaining to the good faith and confidence involved in such a relationship. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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However, by having to wait for the IRS to issue a Compliance Statement, the process of fully protecting the plan and the fiduciaries can take an extended period of time. The common thread running through all is that fiduciaries have discretionary authority over another's money, property, or other assets, and a legal duty to act in a manner that benefits the other person, or organization. Fiduciaries are required to perform professional or other services with all of the expertise, loyalty and due care that they possess. |
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