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The Fiduciary Duty to Monitor 401(k) Plan Investments
October Three ConsultingLink to more items from this source
Aug. 12, 2015

"In a 'traditional' defined benefit plan, the duty to monitor looks a lot like the duty to monitor investments in a traditional trust.... [I]mplementation of a 404(c)-401(k) plan frames the duty to monitor in a unique way. In this sort of plan, the plan fiduciary must [1] monitor for continued compliance with 404(c), [2] if the fiduciary is satisfied that the plan complies with 404(c), then its obligation to monitor individual (participant) investment decisions (e.g., with respect to asset allocation) is generally eliminated, but [3] the fiduciary does have a residual obligation to monitor for the ongoing prudence of the inclusion of the funds in the fund menu."

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