Fiduciary status

[Guest Becca2002]

If a corporation is a fiduciary to an ERISA plan by reason of being the plan administrator, is another corporation that is under common control with that corporation considered to be a fiduciary as well as a result of that relationship? If so, based on what authority.

[Ron Snyder]

I would suggest that the simple answer is "no". But that is only helpful in determining whether related entities are responsible for breaches of fiduciary duty imposed on the actual fiduciary.

The issue you are probably asking about will not be answered by stating the the subsidiary is or is not a fiduciary. Section 1002 of ERISA (29 USC 1002) includes definitions for "fiduciary" (21), "administrator" (16), "party in interest" (14), "relative" (15), and "person" (9). A careful review of those provisions will convince you that the related entity is a party in interest and may not engage in transactions with the plan, etc.