Page 67 - DCAC December 2024 Files

Managing a Prudent Due Diligence Process

Follow a Prudent Process

Analyze
Monitor Know and understand the Plan’s goals and
Review periodically to confirm the objectives, identify any laws, governing
effectiveness of the decisions documents and other sources of guidance.
implemented in meeting decision-
makers fiduciary responsibilities.

Implement
Engage service provider(s) to Strategize
execute approved decision in a Establish awareness of fiduciary
manner consistent with the duties and responsibilities consistent
obligations of care. with applicable governing
documents, addressing any conflicts
of interest consistent with the duty
of loyalty.
Formalize
Ensure the strategy is consistent with the Plan’s
goals and objectives, and is consistent with
implementation and monitoring constraints, and
sufficient detail is documented to show a
reasonable due diligence process was followed.

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