Page 454 - DCAC February 2024 Files

Plan Sponsor / Committee Oversight: Process Failure

• Plan Sponsor Oversights – Process Failure

• Investment Options: Provide regular reporting that compares performance and expenses to peer group

medians.

• Maintain investment performance reporting and benchmarking 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 investment options, fiduciaries must demonstrate

a prudent process that show ongoing monitoring.

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