U.S. Code » Title 29 » Chapter CHAPTER 18— EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM › Subchapter SUBCHAPTER I— PROTECTION OF EMPLOYEE BENEFIT RIGHTS › Subtitle Subtitle B— Regulatory Provisions › Part part 4— fiduciary responsibility

29 U.S.C. § 1109

Liability for breach of fiduciary duty

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(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.(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.(Pub. L. 93–406, title I, § 409, Sept. 2, 1974, 88 Stat. 886.)
Notes of Decisions
Cited in 1,750 cases (310 in the last 5 years), 1977–2026 · leading case: Pioneer Centres Holding Co. Emp. Stock Ownership Plan & Trust v. Alerus Fin., N.A., 858 F.3d 1324 (10th Cir. 2017).
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Pioneer Centres Holding Co. Emp. Stock Ownership Plan & Trust v. Alerus Fin., N.A., 858 F.3d 1324 (10th Cir. 2017). · cites it 15× “Procedural History After Pioneer sold its assets to Kuni, the Plan filed suit against Alerus4 for breach of fiduciary duty under 29 U.S.C. § 1109 . Alerus moved for summary judgment,5 arguing (1) it did not breach any fiduciary duties, and (2) even if there was a breach, Alerus…”
Simon v. Hartford Life, Inc., 546 F.3d 661 (9th Cir. 2008). · cites it 8× “and Hartford Life and Accident (hereinafter referred to collectively as “Hartford”) alleging a single cause of action for breach of fiduciary duty under 29 U.S.C. § 1109 (a). The district court dismissed the complaint without prejudice.”
In Re Enron Corp. Sec., Derivative & ERISA, 284 F. Supp. 2d 511 (S.D. Tex. 2003). · cites it 12× “” Section 409(a) of ERISA, 29 U.S.C. § 1109 (a), provides, “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 ha-ble.”
Paulsen v. CNF INC., 559 F.3d 1061 (9th Cir. 2009). · cites it 7× “Section 1132(a)(2) authorizes a participant or beneficiary to bring a civil action for appropriate relief under 29 U.S.C. § 1109 , which in turn authorizes a claim for breach of fiduciary duties by an ERISA fiduciary.”
LaRue v. DeWolff, Boberg & Assocs., Inc., 552 U.S. 248 (2008). · cites it 6× “2d 96 (1985), the Court held that § 409 of ERISA, 29 U.S.C. § 1109 , read together with § 502(a)(2), authorizes recovery only by "the plan as an entity," 473 U.”
Richard Tatum v. RJR Pension Inv. Comm., 761 F.3d 346 (4th Cir. 2014). · cites it 10× “Market conditions can, of course, create fluctuations, but a prudent investment decision does not by definition cause a plan loss, the precondition under 29 U.S.C. § 1109 (a) for imposing personal monetary liability upon fiduciaries.”
Trs. of the Upstate New York Engineers Pension Fund v. Ivy Asset Mgmt., 843 F.3d 561 (2d Cir. 2016). · cites it 3× “29 U.S.C. § 1109 (a). The Trustees seek both to recover alleged losses sustained by the Plan and to disgorge alleged profits made by Simon and Wohl as a result of the breach of fiduciary duty.”
Thomas Perez, Sec'y v. Herbert Bruister, 823 F.3d 250 (5th Cir. 2016). · cites it 6× “Sealy’s Standing to Sue on Behalf of the ESOP ERISA § 409(a), 29 U.S.C. § 1109 (a), provides that a fiduciary who breaches a duty “shall be personally liable to make good to such plan any losses to the plan resulting from each such breach .”
Sacerdote v. New York Univ., 9 F.4th 95 (2d Cir. 2021). · cites it 3× “tary accounts, requiring use of TIAA-CREF as the recordkeeper, in the Plans (Counts I and II); incurred unreasonable recordkeeping fees (Counts III and IV); incurred unreasonable investment fees, unnecessary marketing and distribution fees and mortality and 3 Section 1132(a)(2)…”
Bricklayers & Allied Craftworkers Local 2 v. Moulton Masonry & Constr., LLC, 779 F.3d 182 (2d Cir. 2015). · cites it 4× “But Section 409 of ERISA, 29 U.S.C. § 1109 , provides an independent basis for Moulton’s liability in his individual capacity as a “fiduciary.”
Massachusetts Mut. Life Ins. v. Russell, 473 U.S. 134 (1985). · cites it 4× “886 , 29 U. S. C. § 1109 (a). Sections 501 and 502 authorize, respectively, criminal and civil enforcement of the Act.”
Varity Corp. v. Howe, 516 U.S. 489 (1996). · cites it 4× “134 (1985), we held that actions for fiduciary breach under §§ 409 and 502(a)(2), 29 U. S. C. §§ 1109 , 1132(a)(2) (1988 ed.”
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— 29 U.S.C. § 1109(a) — 11 cases
Richard Tatum v. RJR Pension Inv. Comm., 761 F.3d 346 (4th Cir. 2014). “Market conditions can, of course, create fluctuations, but a prudent investment decision does not by definition cause a plan loss, the precondition under 29 U.S.C. § 1109 (a) for imposing personal monetary liability upon fiduciaries.”
Kanawi v. Bechtel Corp., 254 F.R.D. 102 (N.D. Cal. 2008).
Glass Dimensions, Inc. ex rel. Glass Dimensions, Inc. Profit Sharing Plan & Trust v. State Street Bank & Trust Co., 931 F. Supp. 2d 296 (D. Mass. 2013).
Iron Workers' Local No. 25 Pension Fund v. McGuire Steel Erection, Inc., 352 F. Supp. 2d 794 (E.D. Mich. 2004).
Haddock v. Nationwide Fin. Servs., Inc., 293 F.R.D. 272 (D. Conn. 2013).
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