Life on an Investment Committee

Nevin Adams, editor-in-chief of Plan Sponsor and its News Dash publication writes a great little "IMHO" piece about being on a plan's investment committee. To sum up:

• If you are on an ERISA plan's Investment Committee, you are an ERISA fiduciary
• Once you are an ERISA fiduciary, you have a personal liability
• On the Investment Committee, you are responsible not only for your own decisions, but the decisions of others

You can read Nevin's article here: http://www.plansponsor.com/IMHO__Liability_Driven.aspx

There are several court cases out there right now that rely on this theory. Unfortunately, I am temporarily precluded from writing about the most interesting of the bunch of them.