What do ERISA 404(a)(1): (A), (B), (C), and (D) govern?

ERISA 404(a)(1) is a crucial section of the Employee Retirement Income Security Act that establishes specific standards for fiduciary duties relating to employee benefit plans. This provision delineates the obligations of fiduciaries, emphasizing their responsibility to act prudently and solely in the interest of plan participants and beneficiaries.

Under this section, fiduciaries must adhere to a duty of loyalty, which includes avoiding conflicts of interest and acting in the best interest of the participants. Additionally, fiduciaries are required to use care, skill, and caution when managing plan assets and to follow the plan documents as long as they are consistent with ERISA. This framework is essential for maintaining the integrity of retirement plans and ensuring participants' benefits are protected.

While the other choices, such as vesting, coverage and participation, and loans, all pertain to different aspects of employee benefit plans, they do not fall under the specific fiduciary obligations set out in ERISA 404(a)(1). The focus here is directly on the responsibilities and duties of fiduciaries, making this choice the most accurate representation of what ERISA 404(a)(1): (A), (B), (C), and (D) govern.