Proper plan oversight and operation is essential in maintaining governance on a governmental defined contribution plan. The most common form of plan governance involves the creation of a specialized board (or committee), usually appointed under the governing authority of the plan sponsor. This session is dedicated to assisting those that serve on or support a board or committee with their fiduciary and/or governance duties.

This session will explore the following:

  • Committee membership and Board makeup
  • Understanding fiduciary duty and responsibility
  • Roles of the board versus roles of administrative staff
  • Various board and sub-committee structures
  • Investment management and plan design governance and oversight
  • Analyze a plan sponsor who changed the roles of the governing board and the administrative staff and the lessons learned
  • Utilizing board sub-committee structures
  • Studying the best practice checklist to analyze the practices that strengthen and make plans grow and drive plan sponsor financial wellness

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  • September 8, 2019 Create Date
  • January 8, 2020 Last Updated
Board/Committee Membership, Governance & Best Practices