Fiduciary Committee Best Practices – Part 2: Preparing Meeting Minutes

Summary

In Part 1 Fiduciary Committee Best Practices – Part I: The Basics of this two-part article we suggested that the key to compliance with the fiduciary requirements of ERISA can be boiled down to a simple proposition: follow a prudent process and document it. We used that proposition as a basis for offering five foundational steps that a fiduciary committee charged with overseeing the administration of an ERISA retirement plan should take, especially when the committee has responsibility for the investment of plan assets.