§ 1109. Liability for breach of fiduciary duty

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1974

   Employee Retirement Income Security Act of 1974

   Pub. L. 93–406 title I § 409 · 88 Stat. 829

   Enacted · 29 U.S.C. § 1109

   (Pub. L. 93–406, title I, § 409, Sept. 2, 1974, 88 Stat. 886.)

   Source evidence

   Code source credit
   (Pub. L. 93–406, title I, § 409, Sept. 2, 1974, 88 Stat. 886.)

   Enacted provision · exact public law section
   Sec. 409. liability for breach of fiduciary duty (a) Any person who is a fiduciary with respect to a plan 29 USC 1109. who breaches any of the responsibilities, obligations, or duties imposed upon fiduciaries by this title shall be personally liable to make good to such plan any losses to the plan resulting from each such breach, and to restore to such plan any profits of such fiduciary which have been made through use of assets of the plan by the fiduciary, and shall be subject to such other equitable or remedial relief as the court may deem appropriate, including removal of such fiduciary. A fiduciary may also be removed for a violation of section 411 of this Act. (b) No fiduciary shall be liable with respect to a breach of fiduciary duty under this title if such breach was committed before he became a fiduciary or after he ceased to be a fiduciary.

1 of 1 references resolved to an enrolled provision