Sarah Millar, associate in the Employee Benefits and Executive Compensation Practice Group presented at the Benefits Management Forum & Expo on September 21, 2004, this presentation gives the definition of a fiduciary under ERISA as well as a practical, “catch-all” definition, the duties of the fiduciary, potential exposure if a fiduciary breaches those duties, delegating the duties of a fiduciary and the role the fiduciary plays in 401(k) plans. This presentation also discusses what action regulatory bodies have taken to oversee investment plans and the potential for abuses by fiduciaries, special considerations that need to be taken with company stock and a list of what companies can do to make sure their retirement plans operate consistently with ERISA.