"Alliance Bernstein recently released the shocking result of a survey it had taken of plan sponsors: a whopping 37% of those fiduciaries surveyed didn't know that they were fiduciaries. Obviously, it is unlikely that these individuals are fulfilling their fiduciary responsibilities if they are unaware of their status.... ERISA has a functional definition of fiduciary, which means that you become a fiduciary based on what you do.... Another form of ignorance can complicate this problem, because it is also possible to believe that your plan service providers are fiduciaries when they are not."  MORE >>