Serving as a member of the investment committee is a serious responsibility. The sponsor should pay careful attention to who serves on this committee and it should be comprised of at least three people. You should include a financial persona, a human resource person, and at least one at-large employee.
Investment committees should meet between two and four times per year with the plan’s investment advisor to review investment performance as well as other plan matters including participation rates, top-heavy testing results, and other plan issues as they arise.