Cpfa license - Study guides, Class notes & Summaries

What are the 4 basic fiduciary standards under the Fiduciary Standard of Care? (Section 404) - Answer- 1.) Loyalty - (Exclusive purpose rule - Providing benefits to participants and their beneficiaries; and defraying reasonable expenses of administering the plan) 2.) Prudence - (Act with prudence by investigating before making any plan decisions, documenting the decision-making process, hiring experts when they don't possess the knowledge or skills to make a decision, and monitoring if their d...