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29 U.S.C. § 1109 — Liability for breach of fiduciary duty

Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1109 — Liability for breach of fiduciary duty

**(a)** Any person who is a fiduciary with respect to a plan who breaches any of the responsibilities, obligations, or duties imposed upon fiduciaries by this subchapter 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 1111 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1111&num=0&edition=prelim). **(b)** No fiduciary shall be liable with respect to a breach of fiduciary duty under this subchapter if such breach was committed before he became a fiduciary or after he ceased to be a fiduciary.

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Source location: Title 29, Chapter 18, § 1109; chapter-018-employee-retirement-income-security-program.md

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Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1111 — Persons prohibited from holding certain positions

**(a) Conviction or imprisonment** No person who has been convicted of, or has been imprisoned as a result of his conviction of, robbery, bribery, extortion, embezzlement, fraud, grand larceny, burglary, arson, a felony violation of Federal or State law involving substances defined in [section 802(6) of title 21](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title21-section802/6&num=0&edition=prelim), murder, rape, kidnaping, perjury, assault with intent to kill, any crime described in [section 80a–9(a)(1) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section80a–9/a/1&num=0&edition=prelim), a violation of any provision of this chapter, a violation of [section 186 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section186&num=0&edition=prelim), a violation of chapter 63 of title 18, a violation of section 874, 1027, 1503, 1505, 1506, 1510, 1951, or 1954 of title 18, a violation of the Labor-Management Reporting and Disclosure Act of 1959 ([29 U.S.C. 401](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section401&num=0&edition=prelim)), any felony involving abuse or misuse of such person’s position or employment in a labor organization or employee benefit plan to seek or obtain an illegal gain at the expense of the members of the labor organization or the beneficiaries of the employee benefit plan, or conspiracy to commit any such crimes or attempt to commit any such crimes, or a crime in which any of the foregoing crimes is an element, shall serve or be permitted to serve— (1) as an administrator, fiduciary, officer, trustee, custodian, counsel, agent, employee, or representative in any capacity of any employee benefit plan, (2) as a consultant or adviser to an e

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Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1132 — Civil enforcement

**(a) Persons empowered to bring a civil action** A civil action may be brought— (1) by a participant or beneficiary— (A) for the relief provided for in subsection (c) of this section, or (B) to recover benefits due to him under the terms of his plan, to enforce his rights under the terms of the plan, or to clarify his rights to future benefits under the terms of the plan; (2) by the Secretary, or by a participant, beneficiary or fiduciary for appropriate relief under [section 1109 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1109&num=0&edition=prelim); (3) by a participant, beneficiary, or fiduciary (A) to enjoin any act or practice which violates any provision of this subchapter or the terms of the plan, or (B) to obtain other appropriate equitable relief (i) to redress such violations or (ii) to enforce any provisions of this subchapter or the terms of the plan; (4) by the Secretary, or by a participant, or beneficiary for appropriate relief in the case of a violation of section 1025(c) or 1032(a) of this title; (5) except as otherwise provided in subsection (b), by the Secretary (A) to enjoin any act or practice which violates any provision of this subchapter, or (B) to obtain other appropriate equitable relief (i) to redress such violation or (ii) to enforce any provision of this subchapter; (6) by the Secretary to collect any civil penalty under paragraph (2), (4), (5), (6), (7), (8), or (9) of subsection (c) or under subsection (i) or (l); (7) by a State to enforce compliance with a qualified medical child support order (as defined in [section 1169(a)(2)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1169/a/2/A&num=0&edition=prelim)); (8) by the Secretary, o

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Federal law — U.S. Code and appendices · legal_authorities

29 U.S.C. § 1109 — Liability for breach of fiduciary duty

Page 529 TITLE 29—LABOR § 1110 1 So in original. This part does not contain subparts. Pub. L. 101–239, set out as a note under section 1002 of this title. Section 7894(e)(4)(B) of Pub. L. 101–239 provided that: ‘‘The amendments made by subparagraph (A) [amend- ing this section] shall take effect as if originally in- cluded in section 491(b) of the Deficit Reduction Act of 1984 [Pub. L. 98–369].’’ EFFECTIVE DATE OF 1986 AMENDMENT Amendment by section 1114(b)(15)(B) of Pub. L. 99–514 applicable to years beginning after Dec. 31, 1988, see section 1114(c)(3) of Pub. L. 99–514, set out as a note under section 414 of Title 26, Internal Revenue Code. Section 1898(i)(2) of Pub. L. 99–514 provided that: ‘‘The amendment made by paragraph (1) [amending this sec- tion] shall apply to transactions after the date of the enactment of this Act [Oct. 22, 1986].’’ EFFECTIVE DATE OF 1982 AMENDMENT Amendment by Pub. L. 97–354 applicable to taxable years beginning after Dec. 31, 1982, see section 6(a) of Pub. L. 97–354, set out as a note under section 1361 of Title 26, Internal Revenue Code. EFFECTIVE DATE OF 1980 AMENDMENT Amendment by Pub. L. 96–364 effective Sept. 26, 1980, except as specifically provided, see section 1461(e) of this title. REGULATIONS Pub. L. 109–280, title VI, § 611(g)(3), Aug. 17, 2006, 120 Stat. 975, provided that: ‘‘No later than 180 days after the date of the enactment of this Act [Aug. 17, 2006], the Secretary of Labor, after consultation with the Se- curities and Exchange Commission, shall issue regula- tions regarding the content of policies and procedures required to be adopted by an investment manager under section 408(b)(19) of the Employee Retirement In- come Security Act of 1974 [29 U.S.C. 1108(b)(19)].’’ Secretary of the Treasury

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