How to Establish a Strong Investment-Focused Plan Committee

As a retirement plan sponsor, one of the biggest steps toward ensuring regulatory compliance includes establishing a committee to manage the plan. Meanwhile, setting forth clear objectives and direction for the composition and function of your retirement plan committee can be the key to its success. Learn more about some standard objectives and responsibilities for your fledgling committee, with a specific view towards its investment responsibilities, as well as some structuring tips you’ll want to keep in mind when just getting started.

Why Plan Sponsors Should Adopt an Investment Policy Statement

Although ERISA doesn’t specifically require retirement plan sponsors to create and adhere to a written Investment Policy Statement, having an outlined statement in place can allow sponsors to efficiently run a plan consistent with ERISA requirements while fulfilling their fiduciary duties. An Investment Policy Statement will be unique for each organization based on the characteristics of the plan, but we have compiled a list of considerations for developing a well-crafted document.