401k Retirement Committee Responsibilities Extend Well Beyond Investments

401k Retirement Committee Responsibilities Extend Well Beyond Investments

401k retirement committee responsibilities reach far beyond investments.  Fred Barstein, Founder and CEO of The Plan Sponsor University addresses the topic of how 401k retirement committee responsibilities should match the functions of an oversight committee.  Many 401k committees have chosen monikers which restrict or expand the committees’ responsibilities.  Even though it is commonplace, a committee that is titled an Investment Committee should not be making plan design decisions or recordkeeping decisions.  A committee that is titled a Fiduciary Committee should not be making decisions on non-fiduciary processes or topics.  A 401k Retirement Committee has more latitude to address all 401k Retirement Committee responsibilities.

 

VIDEO PRIMARY KEY PHRASE

       “401k Retirement Committee Responsibilities “