Investment Committee Checklist.
Byline: Lee Barney
Summary paragraph: Here are some important guidelines an investment committee should consider on a regular basis.
* Set an agenda and goals for the year;
* Review the investment policy statement;
* Conduct an analysis of all investment management, recordkeeping and administrative fees, commissions, soft dollars and revenue sharing;
* Review Form ADV, fund prospectuses and annual reports for each mutual fund;
* Examine any changes to portfolios or the investment management team, proxy voting records and industry or regulatory actions against companies, funds and portfolio managers in the plan; and
* Maintain thorough records, minutes and documents.
* Perform a thorough investment performance and benchmark review;
* Review the fund watch list;
* Review plan assets with investment policy guidelines, including company stock;
* Examine plan participant contribution, participation and borrowing rates;
* Check that all contributions are being deposited and invested properly, comparing reports from investment managers with custodian statements;
* Audit each fund manager and the recordkeeper's and administrator's fee computation; and
* Perform ongoing fiduciary and investment training for investment committee members.