This template consists of sample minutes of a fiduciary committee meeting, like an investment committee, for a defined contribution retirement plan that is subject to the Employee Retirement Income Security Act (ERISA). This template contains practical guidance, drafting notes, and alternate and optional clauses. Under ERISA, persons who exercise discretionary control or authority over the management or administration of a plan are subject to fiduciary responsibilities. See ERISA Fiduciary Duties. A plan fiduciary includes each member of a plan's investment committee tasked with some discretion over selecting or monitoring plan investments and service providers. Good governance requires that committees record their meetings in minutes that are ratified by a quorum of the committee. Board meeting minutes demonstrate the fulfillment of ERISA fiduciary responsibilities by providing a written record of the decision-making process. They should document significant decisions taken by the ...