Key Topics for Plan Oversight Meetings

Plan Oversight Meetings

Written by Sophia Reineck

November 22, 2022

Plan Administrators have the important fiduciary duty of conducting and documenting timely, periodic meetings to oversee the Plan. As part of the audit process, auditors are required to view the minutes from these meetings. It is important that the meeting minutes do more than state that a meeting was held. The meeting minutes should cover how the plan administrators are evaluating the current and future activities of the Plan. Included below is a list of some (but not all) key topics Plan Administrators should cover during oversight meetings:


  • Selection of investment options
  • Performance review of the Plan’s investments
  • Creation and oversight of an investment policy for the Plan

Service providers (third-party administrators, investment advisors, etc)

  • Review of agreements with service providers
  • Performance review of the service providers
  • Reasons for changing service providers, if applicable

Audit reports

  • Review of reports
  • Discussion and plan to correct findings
  • Review of prohibited transactions and parties in interest
  • Authorization of employer contributions
  • Review of new plan amendments
  • Evaluation of impact of new laws and regulations on the Plan
  • Consideration of the reasonableness of plan fees
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Sophia Reineck
I joined the Green Bay, WI, office of Hawkins Ash CPAs in 2018. As a senior associate I focus on preparing individual and business tax returns. I also perform audit services for credit unions, nonprofit organizations and voucher schools.

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