Page 449 - DCAC February 2024 Files

Plan Sponsor / Committee Oversight: Process Failure

• Conduct and document periodic Share Class Review and alternatives (CITs).

• Maintain supporting documents as part of the Plan’s permanent fiduciary file. It’s difficult to prove

undocumented activities.

• While there’s no obligation to utilize the least expensive options, fiduciaries must demonstrate a prudent

process that documents an ongoing process to monitor eligibility for lower-cost options.

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