10 Mistakes Plan Fiduciaries Make

PlanSponsor.com has posted a listing of "10 Things You're (Probably) Doing Wrong" as a "reminder of the awesome responsibilities you have as a plan fiduciary." Some of the items are "things that you must do, and things that you do not have to do--that, if done, would keep you and your plan(s) in good stead." The "10 Things" are listed below; view the full article for more information on each "thing."

Not having a plan/plan investment committee
Not having committee meetings
Not keeping minutes of committee meetings
Not having an investment policy statement (IPS)
Not removing "bad" funds from your plan menu
Thinking your plan qualifies for 404(c) protection--and misunderstanding what that means
Depositing contributions on a timely basis
(Not) monitoring providers on a regular basis
Not following the terms of the plan document
Not realizing who is a fiduciary--and what that means

Please contact us with questions about how the information in this article applies to your particular situation.

10 Mistakes Plan Fiduciaries Make

Types of Plans