The Definition of a Fiduciary Under Erisa: Functions Covered Under Subsectons 3 (21) (A) (i), (ii) and (iii)
Jane Kheel Stanley
1 FALL 1992 The Definition of Fiduciary Under ERISA 487 a percentage of claims paid. Courts have held that persons are fiduciaries regarding their own compensation under these con- r a c t ~ . ~ ~ Although many of these cases cite no specific statutory provision, their rationale seems to rely on the provision of subsectiio (i) respecting indirect control over plan assets. Fiduciary status arises when the person earns the fees in question, not when the person negotiates the contra~t.~ Therefore, a...