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401(k)/403(b) Best Practices: Decision-Making and Documentation
Lawton Retirement Plan Consultants Link to more items from this source
May 1, 2014
"Form an Investment Committee to make decisions about plan issues.... [D]evelop an Investment Policy Statement (IPS) to guide the selection and monitoring of your plan's investments. Review and update the IPS each year.... [M]ake sure your plan documents are up-to-date.... You cannot pick and choose which plan provisions to follow and which to ignore.... Think you are following prudent processes when making decisions? There is no way to know when looking back at prior decisions unless you documented it."

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