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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
- August 31, 2023 Last Updated
