General Limitations of Liability. (a) No fiduciary shall be liable with respect to a breach of fiduciary duty under Title I of ERISA if such breach was committed before he, she or it became a fiduciary or after he, she or it ceased to be a fiduciary. (b) No fiduciary shall be liable for any act or omission of any other person to whom fiduciary responsibilities (other than Trustee responsibilities) are allocated by the Trust Agreement or by a named fiduciary, except as provided in Section 405(c) of ERISA.
Appears in 2 contracts
Samples: Trust Agreement (Unified Western Grocers Inc), Trust Agreement (MSC Software Corp)
General Limitations of Liability. In reference to the limitation of liability of the fiduciary:
(a) No fiduciary shall be liable with respect to a breach of fiduciary duty under Title I of ERISA if such breach was committed before he, he or she or it became a fiduciary or after he, he or she or it ceased to be a fiduciary.
(b) No named fiduciary shall be liable for any act or omission of any other person to whom fiduciary responsibilities (other than Trustee responsibilities) are allocated by the Trust Agreement or by a named fiduciary, except as provided in Section 405(c) of ERISA.
Appears in 1 contract
General Limitations of Liability. (a) No A fiduciary shall not be liable with respect to a breach of fiduciary duty under Title I of ERISA if such breach was committed before he, she or it became a fiduciary or after he, she or it ceased to be a fiduciary.
(b) No fiduciary shall be liable for any act or omission of any other person to whom fiduciary responsibilities (other than Trustee responsibilities) are allocated by the Trust Agreement or by a named fiduciary, except as provided in Section section 405(c) of ERISA.
Appears in 1 contract
Samples: Trust Agreement (Mens Wearhouse Inc)
General Limitations of Liability. In reference to the limitation of liability of the fiduciary:
(a) No fiduciary shall be liable with respect to a breach of fiduciary duty under Title I of ERISA if such breach was committed before he, he or she or it became a fiduciary or after he, he or she or it ceased to be a fiduciary.
(b) No named fiduciary shall be liable for any act or omission of any other person to whom fiduciary responsibilities (other than Trustee responsibilities) are allocated by the Trust Agreement or by a named fiduciary, except as provided in Section 405(c) of ERISA.
Appears in 1 contract
Samples: Trust Agreement (Sse Telecom Inc)
