Mealey's Labor & Employment - Pension Plan's Investment Adviser Is Not ERISA Fiduciary, 5th Circuit Rules

NEW ORLEANS - An investment adviser to employee benefit plans was not a fiduciary under the Employee Retirement Income Security Act because he did not exercise discretionary authority or control over the challenged investment, the Fifth Circuit U.S. Court of Appeals affirmed Feb. 28 (Eric Tiblier, et al. v. Paul Dlabal, et al., No. 13-50344, 5th Cir.; 2014 U.S. App. LEXIS 3897).

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