http://www.aon.com/us/busi/risk_management/risk_transfer/fiduciary_liability.jsp
From the above:
The Employee Retirement Income Security Act (ERISA) of 1974 was designed to protect the rights of private pension plan participants. Fiduciaries of all employee benefits plans, including welfare plans and pension plans, assumed new responsibilities relating to the management and administration of benefits plans. Under the law, a fiduciary can be held personally responsible for shortages in the benefit plan's assets resulting from a breach of fiduciary duty, such as improper investment of funds.
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