Minnesota § 356A.05 DUTIES APPLICABLE TO ALL ACTIVITIES

Minnesota Statutes

§ 356A.05 — DUTIES APPLICABLE TO ALL ACTIVITIES

Minnesota § 356A.05

PartRETIREMENT

Ch. 356APUBLIC PENSION FIDUCIARY RESPONSIBILITY

This text of Minnesota § 356A.05 (DUTIES APPLICABLE TO ALL ACTIVITIES) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 356A.05 (2026).

Text

(a)The activities of a fiduciary of a covered pension plan must be carried out solely for the following purposes:

(1)to provide authorized benefits to plan participants and beneficiaries;

(2)to incur and pay reasonable and necessary administrative expenses; or

(3)to manage a covered pension plan in accordance with the purposes and intent of the plan document.

(b)The activities of fiduciaries identified in section356A.02must be carried out faithfully, without prejudice, and in a manner consistent with law and the plan document.

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(a) The activities of a fiduciary of a covered pension plan must be carried out solely for the following purposes:
(1) to provide authorized benefits to plan participants and beneficiaries;
(2) to incur and pay reasonable and necessary administrative expenses; or
(3) to manage a covered pension plan in accordance with the purposes and intent of the plan document.
(b) The activities of fiduciaries identified in section356A.02must be carried out faithfully, without prejudice, and in a manner consistent with law and the plan document.