Los Angeles partner Summer Conley and Chicago partner Michael Rosenbaum are writing a series of articles for PLANSPONSOR magazine regarding ERISA fiduciary responsibilities for retirement plan committee members.
The first article in the series is titled, “A Complex Role: Committee members need training.” They discuss being a member of a company’s retirement plan committee and the importance of committee members understanding the retirement plan’s governance structure, and outline good practices as a fiduciary. They also note that two of the most important responsibilities under ERISA are to engage in a “prudent” process and follow the terms of the plan documents.
