Your Charter committee will describe your Board’s authority to delegate the responsibilities of fiduciary as well as any other committee responsibilities. …
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Regarding this, what is a Retirement Committee Charter?
A retirement committee charter will typically delineate responsibilities for the plan generally, oversight of testing, and oversight of service providers, including a review of fees.”
In this manner, how often should a 401k Committee meet?
Secondly, what did the Employee Retirement Income Security Act erisa of 1974 do?
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans.
What is a fiduciary committee?
The objective of a fiduciary committee is to make, or assist the plan sponsor in making, fiduciary decisions.