Partner Marla Kreindler spoke with PlanSponsor about the reasons why a company may choose to have more than one retirement plan committee. Marla said the size of an organization is a big factor, as is division of labor.
“It’s pretty common for large employer plan sponsors to have different plan administration committees and investment committees, often because different people at the company will be working on those matters,” Marla said. “For example, you might expect people in the treasury department of companies will be working on the investment matters, whereas you might expect folks in the HR department will be working on the plan administrative matters, although it is also common for those in the treasury department to work on plan administrative matters and vice versa.”
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