Tracking Parties in Interest

[Guest halka]

Just wondering if, and to what extent, plan trustees/administrators are maintaining a "before-the-fact" roster of parties in interest. That is, do you create and update a census of the business interests of the committee members and/or officers & directors of the Plan sponsor in order to avoid inadvertently entering into a prohibited transaction?? Or does everyone perform an ad hoc review only when the Plan incurs an expense?? If the former, I'd like to learn how deep and how often is the information.

THANKS

[JohnCheek]

My guess is tht most plans are looking at this after the fact, rather than maintaining a watch list. For most 401(k)'s, especially smaller ones, this is probably ok, since the plans tend to invest in plain vanilla mutual funds, etc.