What Is A Retirement Plan Fiduciary? 
Employee Retirement Income Security Act -LRB- ERISA -RRB- of 1974 requires employer sponsored plans to accept fiduciary responsibilities for compliance under 404c and the newest regulation for fee disclosure , 408 -LRB- b -RRB- -LRB- 2 -RRB- . ERISA requires employers to design a written plan , a trust fund to hold the assets , an accounting system for the retirement plan and written notifications and updates to plan participants . 