"If you are faced with the opportunity to reduce costs by using proprietary investments, consider documenting your reasons to adopt proprietary funds by answering the following questions: [1] Are we using proprietary funds? [2] Are we replacing an existing fund with a proprietary fund? [3] Have we selected proprietary funds based on the standards and criteria established in the [investment policy statement (IPS)]? [4] If an exception is necessary to use a proprietary fund, should we change the IPS standards and criteria permanently? [5] Are we using a proprietary fund because it is in the best interests of participants or because it reduces the cost to the Plan Sponsor? [6] How are we accounting for any additional revenue sharing from the use of the proprietary funds?" [Tussey v. ABB Inc., No. 2:06-CV-04305 (W.D. Mo. July 9, 2015)]

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