Each week Nevin E. Adams, JD, PLANADVISER Editor-in-Chief writes a column called IMHO (In My Humble Opinion), and he’s always a good read.

He’s just published a two-part series that’s an excellent, common sense approach for fiduciaries that’s definitely worth keeping handy. It’s called “To Do” List: 10 Things You’re (Probably) Doing Wrong—or Not Doing Right—as a Plan Fiduciary.

His 10 things are:

  1. Not having a plan/plan investment committee.
  2. Not HAVING committee meetings.
  3. Not keeping minutes of committee meetings.
  4. Not having an investment policy statement.
  5. Not removing “bad” funds from your plan menu.
  6. Thinking your plan qualifies for 404(c) protection—and misunderstanding what that means.
  7. Depositing contributions on a timely basis.
  8. (Not) monitoring providers on a regular basis.
  9. Not following the terms of the plan document.
  10. Not realizing who is a fiduciary—and what that means.

To get the full picture, here are links to the complete columns: Part 1 and Part 2.