Anyone who makes decisions for the plan (whether ESOP or EOT), causes someone to make a decision about the plan, or, in some cases, provides advice to someone making decisions about the plan. Put differently, it is anyone who exercises control over plan assets, directly or indirectly. Any person (or any group of people) can be a fiduciary. Most commonly, it is a manager, a committee of management and/or employees, a bank trust department, or an ESOP professional.
Glossary
EO Fiduciary
Definition
Anyone who makes decisions for the plan (whether ESOP or EOT), causes someone to make a decision about the plan, or, in some cases, provides advice to someone making decisions about the plan