ERISA provides that nothing prohibits a fiduciary from receiving any benefits as a plan participant or beneficiary in accordance with the terms of the plan consistently applied to all other participants and beneficiaries.

A fiduciary may also receive reasonable compensation for services rendered, or for the reimbursement of expenses properly and actually incurred, in the performance of his or her duties with the plan. No person who already receives full-time pay from an employer, an association of employers whose employees are plan participants, or from an employee organization whose members are plan participants may receive compensation from the plan, except for reimbursement for expenses properly and actually incurred. Full-time pay does not relate to hours worked; purported part-time pay may still meet the statutory proscription.

A reimbursable direct expense may not represent an allocable portion of overhead and may not represent payment for an expense incurred regardless of services to the plan. Direct expenses may include compensation for administrative and clerical personnel of a service provider to the plan. Expense advances are considered reasonable if the amount is likely to be properly and actually incurred in the immediate future and the fiduciary accounts to the plan at the end of the period are covered by the advance.

A fiduciary may also serve as an officer, employee, agent, or other representative of a party in interest.