Investment Committee Charter (Defined Contribution Plan)
Summary
This template is an investment committee charter for use by a plan sponsor (or an established committee) to establish and define the role of an investment committee for a defined contribution plan governed by the Employee Retirement Income Security Act (ERISA). This template includes practical guidance, drafting notes, and alternate and optional clauses. Without delegation to a properly established investment committee, or to an employee of the plan sponsor (e.g. the Vice President of the sponsor's Human Resources department), the fiduciary responsibility for prudent investment of plan assets remains with the plan sponsor or trustee, as designated in the plan or trust document. The investment committee can provide guidance to the plan sponsor's board of directors or, by delegation by the board, may operate in accordance with the plan's investment policy (as established in accordance with the plan). For a board resolution delegating a board's plan governance responsibilities to a ...