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fiduciary

   Also found in: Dictionary/thesaurus, Legal, Financial, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
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.


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Companies are facing increasing risk of fiduciary liability lawsuits from disenchanted employees who are seeing their retirement benefits diminished, their employer matching contributions eliminated, or their benefits reduced or terminated.
GAO examined: (1) common 401(k) plan features, which typically have important fiduciary implications, and factors affecting these decisions; (2) challenges sponsors face in fulfilling their fiduciary obligations when overseeing plan operations; and (3) actions Labor takes to ensure that sponsors fulfill their fiduciary obligations, and the progress Labor has made on its regulatory initiatives.
Directors'' fiduciary duties are distinct from, and go beyond, the duty of fidelity owed by all employees.
 
 
 
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