"While a plan sponsor cannot control the external forces that affect financial markets, plan sponsors can mitigate risk for their retirement plans by: [1] Following a documented decision-making process. [2] Identifying the key internal and external players and ensuring that all parties know their responsibilities. [3] Working with investment advisers to develop a defined contribution plan fund line-up that suits the plan's participant demographics. [4] Developing a defined contribution plan investment policy ... [5] Working closely, if a defined benefit plan, with the plan's actuaries and investment advisers, to develop an investment strategy to match plan benefit liabilities with assets.... [6] Monitoring any investment decisions/policies/strategies periodically to ensure that what you expected is happening.... [7] Documenting the process and the decisions."  MORE >>