Must a corporation amend its plan documents in order to appoint HFG as the Investment Named Fiduciary?
No. If the plan documents set out a process by which a named fiduciary is appointed then HFG can be appointed through this process. For instance, many plans authorize the corporation’s board to establish committees (such as investment and benefit committees) that serve as named fiduciary for investment and plan administration, respectively. Under this structure, an investment committee could delegate its investment fiduciary responsibilities to HFG.
Related Questions
- What factors should a corporation consider in selecting and hiring HFG as the Investment Named Fiduciary or Independent Fiduciary of a plan?
- How can a corporation minimize fiduciary risk and liability in appointing HGF as a plan’s Investment Named Fiduciary?
- Can a corporation eliminate its investment committee after it hires HFG as the Investment Named Fiduciary?
