Question

According to the employee retirement income security act (ERISA), an individual or corporation who exercises discretionary authority or control over the management of an employee benefit plan is called:

A. A fiduciary
B. An operations manager
C. A broker
D. An investo

Answer 1

According to ERISA, a fiduciary is a person or corporation that exercises discretionary authority or control over the management of an employee benefit plan.

Step-by-step explanation:

According to the Employee Retirement Income Security Act (ERISA), an individual or corporation who exercises discretionary authority or control over the management of an employee benefit plan is called a fiduciary. A fiduciary has a legal and ethical duty to act in the best interest of the participants and beneficiaries of the plan. They must prudently manage the plan's assets and make decisions that are in the best interest of the plan.