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Which of the following is least likely required of fiduciaries who are responsible for pension plans?

A) Judging investments in the context of the total portfolio.

B) Acting in accordance with the plan's stated investment policies.

C) Acting solely in the interest of plan participants.

D) Supporting the sponsor's management during proxy fights.

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Answer and Explanation

Under Standard III(A) Loyalty, Prudence, and Care, fiduciaries must evaluate managements proposals during proxy fights to see if they are in the best interest of the plan participants. If managements ideas are justifiable and reasonably ensure plan participants betterment, then fiduciaries can support them. If management is only trying to further its own objectives, especially at the cost of plan participants, then fiduciaries must vote against management in proxy fights.