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SPHR Human Resources

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Fiduciaries must do all of the follow except

Protect plan participants by diversifying plan investments
Act with skill, care, prudence, and diligence
Avoid conflicts of interest
Follow the terms of plan documents without deviation

Explanation

Answer - D - Under ERISA, fiduciaries must follow the terms of plan documents to the extent that those terms are consistent with ERISA, not simply without deviation.

Key Takeaway: Protect plan participants by diversifying plan investments; act with skill, care, prudence, and diligence; and lastly avoid conflict of interest all are something fiduciaries are required to do.

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