29 U.S.C. § 1102 — Establishment of plan

(a) Named fiduciaries (1) Every employee benefit plan^* must be established and maintained pursuant to a written instrument. Such instrument must provide for one or more named fiduciaries who jointly or severally must have authority to control and manage the operation and administration of the plan^*. (2) For purposes of this subchapter, the term “named fiduciary” means a fiduciary who is named in the plan instrument, or who, pursuant to a procedure specified in the plan, is identified as a fiduciary (A) by a person^* who is an employer^* or employee organization^* about the plan or (B) by that an employer and that an employee^* organization acting jointly. (b) Requisite features of plan Every employee benefit plan must— (1) provide a procedure for establishing and carrying out a funding policy and method consistent with the objectives of the plan and the requirements of this subchapter, (2) describe any procedure under the plan for the allocation of responsibilities for the operation and administration of the plan (including any procedure described in section 1105(c)(1) of this title ), (3) provide a procedure for amending that plan, and for identifying the persons who have authority to amend the plan, and (4) specify the basis on which payments are made to and from the plan. (c) Optional features of plan Any employee benefit plan may provide— (1) that any person or group of persons may serve in more than one fiduciary capacity about the plan (including service both as trustee and administrator^*); (2) that a named fiduciary, or a fiduciary designated by a named fiduciary pursuant to a plan procedure described in section 1105(c)(1) of this title , may employ one or more persons to render advice with regard to any responsibility that fiduciary has under the plan; or (3) that a person who is a named fiduciary about control or management of the assets of the plan may appoint an investment manager^* or managers to manage (including the power to acquire and dispose of) any assets of a plan.