interest, of any assets of the plan.... 29 U.S.C. § 1106(a)(1)(C),(D). A “party in interest” includes insiders to a plan, such as fiduciaries, employers, employees, service providers, and certain stockholders. 29 U.S.C. § 1002(14). Prohibited Section 406(a) transactions between a plan and a party in interest are those “commercial bargains that present a special risk of plan underfunding because they are struck with plan insiders, presumably not at arm’s length.” Lockheed, 517 U.S. at 893, 116 S.Ct. 1783. A party in interest can be held liable for Section 406(a) transactions and be required to disgorge its profits under the remedy provisions of Section 502(a)(3). Harris Trust & Sav. Bank v. Salomon Smith Barney, Inc., 530 U.S. 238, 242-43, 245-249, 120 S.Ct. 2180, 147 L.Ed.2d 187 (2000) (<HOLDING>). To obtain that remedy, however, Plaintiff
holding that professionals who advised the plan were not fiduciaries because they had no decision making authority over the plan or plan assets also noting that the power to act for the plan is essential to status as a fiduciary holding that a defendant who provided brokerdealer services to a plan was a party in interest required to disgorge his profits after the plan fiduciary caused the plan to buy worthless motel properties from him as that was a section 406a prohibited transaction given his insider status holding that a payment is under the plan when the debt is provided for in the plan holding that plan language giving plan administrator power to determine which employees are eligible to participate in the plan and providing all parties dealing with the plan an interpretation of plan provisions on request indicates deferential standard of review of trustee eligibility decisions holding that where plaintiffs alleged that the plan suffered significant losses and requested that fiduciaries make good to the plan the losses to the plan they need not seek to recover for all plan participants allegedly injured by the fiduciary breach