Fiduciary Duties of Directed Trustees
John B. Brescher Jr.
50 PROBATE& PROPERTY JULY/AUGUST 2002 With the proliferation of selfdireecte retirement accounts and the further development of ESOPs, the use of directed trustees in plans subject to the Employee Retirement Income Security Act of 1974, as amended (ERISA) (codified at 29 U.S.C.A. § 1001 et seq.), has become much more prevalent. A directed trustee manages and contrrol plan assets subject to the directiio of a named fiduciary that is not a trustee. Many corporate fiduciaries that function as...