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401K Management Committee Charters

Charles Phillips's Profile

Any examples, and/or thoughts on finding, "401K Management Committee Charters"? Such a Charter or Mission Statement defines the roles and responsibilites of the Pension Plan and Retirement Committee. This is an internal management committee including the Head of HR, Treasury and Finance.


Topic Expert
Brenda Morris
Title: Board of Directors, Audit Committee Chai..
Company: Boot Barn
(Board of Directors, Audit Committee Chair, Boot Barn) |

Your 401K administrator should be able to provide you with samples and help you develop a charter for your 401K Committee. This is a part of the service they should be providing to you! Good luck! Brenda

Topic Expert
Malak Kazan
Title: VP, Special Projects
Company: ERI Economic Research Institute
(VP, Special Projects, ERI Economic Research Institute) |

a few items to consider when customizing the template charter: try to include a process where you get feedback from employees regarding investment choices, service etc that they can impact; include a good cross functional team of sales, operations, engineering on the committee so you get all business perspectives.

Stephanie Banister
Title: Managing Member
Company: ERISA Wise LLC
(Managing Member, ERISA Wise LLC) |

A strong recommendation: hire an Independent Fiduciary whose expertise is in the ERISA arena to either compose the charter with the committee, or review it.

Topic Expert
Patrick Dunne
Title: Chief Financial Officer
Company: Milk Source
(Chief Financial Officer, Milk Source) |

Your provider as well as your legal representation should be able to give you many examples.


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