528
Thomas, J., dissenting
"artificial definition of 'fiduciary,' " Mertens, supra, at 255, n. 5, is designed, in part, so that an employer that administers its own plan is not a fiduciary to the plan for all purposes and at all times, but only to the extent that it has discretionary authority to administer the plan. When the employer is not acting as plan administrator, it is not a fiduciary under the Act, and the fiduciary duty of care codified in § 404 is not activated.
Though we have recognized that Congress borrowed from the common law of trusts in enacting ERISA, Firestone Tire & Rubber Co. v. Bruch, 489 U. S. 101, 111 (1989), we must not forget that ERISA is a statute, and in " 'every case involving construction of a statute,' " the " 'starting point . . . is the language itself.' " Ernst & Ernst v. Hochfelder, 425 U. S. 185, 197 (1976) (citation omitted); see Central Bank of Denver, N. A. v. First Interstate Bank of Denver, N. A., 511 U. S. 164, 173 (1994). We should be particularly careful to abide by the statutory text in this case, since, as explained, ERISA's statutory definition of a fiduciary departs from the common law in an important respect. The majority, however, tells us that the "starting point" in determining fiduciary status under ERISA is the common law of trusts. Ante, at 497. According to the majority, it is only "after" courts assess the common law that they may "go on" to consider the statutory definition, and even then the statutory inquiry is only "to ask whether, or to what extent, the language of the statute, its structure, or its purposes require departing from common-law trust requirements." Ibid. This is a novel approach to statutory construction, one that stands our traditional approach on its head.
To determine whether an employer acts as a fiduciary under ERISA, I begin with the text of § 3(21)(A)(iii). To "administer" a plan is to "manage or supervise the execution
relates to plan administration. See Brief for Petitioner 31; Brief for Respondents 33. See also Brief for United States as Amicus Curiae 25.
Page: Index Previous 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 NextLast modified: October 4, 2007