Title 29 — LaborRelease 119-73not60

§1110 Exculpatory Provisions; Insurance

Title 29 › Chapter 18— EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM › Subchapter I— PROTECTION OF EMPLOYEE BENEFIT RIGHTS › Subtitle Subtitle B— Regulatory Provisions › Part 4— fiduciary responsibility › § 1110

Last updated Apr 5, 2026|Official source

Summary

Any clause that tries to free a fiduciary (the people who run an employee benefit plan) from duties or liability under this part is invalid, except as provided in sections 1105(b)(1) and 1105(d). However, insurance is allowed: a plan, a fiduciary, or an employer/employee group may buy insurance for fiduciary liability, and the insurer may seek repayment from a fiduciary who breaches duties.

Full Legal Text

Title 29, §1110

Labor — Source: USLM XML via OLRC

(a)Except as provided in section 1105(b)(1) and 1105(d) of this title, any provision in an agreement or instrument which purports to relieve a fiduciary from responsibility or liability for any responsibility, obligation, or duty under this part shall be void as against public policy.

(b)Nothing in this subpart 11 So in original. This part does not contain subparts. shall preclude—

(1)a plan from purchasing insurance for its fiduciaries or for itself to cover liability or losses occurring by reason of the act or omission of a fiduciary, if such insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation by such fiduciary;

(2)a fiduciary from purchasing insurance to cover liability under this part from and for his own account; or

(3)an employer or an employee organization from purchasing insurance to cover potential liability of one or more persons who serve in a fiduciary capacity with regard to an employee benefit plan.

Reference

Citations & Metadata

Citation

29 U.S.C. § 1110

Title 29 — Labor

Last Updated

Apr 5, 2026

Release point: 119-73not60