What is a Plan Fiduciary?

Plan Fiduciary
Definition:

ERISA defines the term Fiduciary to include any person who
Has discretionary authority or responsibility in the administration of a plan
Exercises any discretionary authority or control with respect to plan assets
Renders investment advice as to plan assets for a fee
For plans (such as Church plans) that are exempt from ERISA, state law contains similar concepts.
Example:

Examples of plan fiduciaries would be retirement plan committees, heads of school, business managers or any other individual and/or committee that exercises discretionary authority in the administration of the retirement plan.