closeup of a committee meeting's charts and hands (Photo: Shutterstock)

Employers offering workplace retirement plans would be wise to form committees – if they haven’t already done so – to make sure investments are being managed with the utmost fiduciary care. For plan sponsors that already have investment committees, following certain best practices can help manage challenges that might arise.

Nathan Boxx, AIF, CFP, director, retirement plan services at Fort Pitt Capital Group in Pittsburgh, shares best practices for plan sponsors’ investment committees – including the prudence of involving rank-and-file employees who can then be strong advocates for the plans.

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