Final answer:
The decision to use plan assets to pay plan expenses falls to the fiduciaries of the plan. They are tasked with the duty of prudence and acting in the best interests of the plan's participants and beneficiaries.
Step-by-step explanation:
The decision to use plan assets for paying plan expenses is the responsibility of the fiduciaries overseeing the plan. Fiduciaries are entrusted with the duty to act in the best interests of the plan participants and beneficiaries, a commitment mandated by laws such as the Employee Retirement Income Security Act (ERISA). This fiduciary obligation extends to the proper management of the plan's assets, encompassing decisions related to investments, contributions, and the handling of plan expenses.
Under ERISA, fiduciaries are obligated to act prudently and solely for the exclusive purpose of providing benefits to plan participants and their beneficiaries. Simultaneously, they are required to defray reasonable expenses associated with administering the plan. The fiduciaries' decision-making regarding plan expenses is integral to fulfilling their broader responsibilities in safeguarding the interests of those participating in the retirement plan.