The Definition of a Fiduciary Under Erisa: Functions Covered Under Subsectons 3 (21) (A) (i), (ii) and (iii)
Jane Kneel Stanley
FALL 1992 The Definition of Fiduciary Under ERISA 507 trustee of a plan must, by the very nature of the position, have "discretionary authority or discretionary responsibility in the adrninistrati~n"~~ of the plan within the meaning of subsection (iii) of ERISA.la6 Besides plan administrators and trustees, the largest category of persons covered under subsection (iii) consists of those who perform claims functions.lS7 A last category of persons within the scope of subsection (iii) comprises...