Can you comment briefly on what each of these mean to a fiduciary? As you said,

there are four main fiduciary duties under ERISA, and the first one is the duty of undivided loyalty to plan participants and beneficiaries, also referred to as the exclusive benefit rule.

So basically, it requires fiduciaries to act for the sole purpose of providing benefits to plan participants and their beneficiaries.

So you're not acting in the interests of the employer, you're acting in the interests of the participants and the beneficiaries.

So this comes up, for example, in the context of, medical loss ratio rebates.

Those checks, if you're entitled to one, will be coming out in the next month or so.

And when you get those, if a portion of the medical loss ratio rebate from the carrier is attributable to employee contributions, that's considered a plan asset and you have to share that distribution with the participants to reflect the fact that they contributed toward the cost of coverage.

What in general should be involved in hiring a service provider?