Investment Review Checklist for Investment Committee (401(k) Plan)

Summary

This checklist provides a list of items to be considered when planning an investment review by a 401(k) plan investment committee (401(k) Plan Investment Committee) or other fiduciary for a defined contribution plan that provides for self-directed investment by participants for all or some of their account balances. The 401(k) Plan Investment Committee should meet periodically each plan year. Best practice is to meet at least quarterly in a plan year to satisfy its ERISA fiduciary obligation to monitor plan investments and service providers. See ERISA Fiduciary Duties for a discussion of a plan fiduciary's obligations under the Employee Retirement Income Security Act (ERISA) and Investment Committee Issues for Defined Contribution Plans for best practices regarding an investment committee's obligations under ERISA.