Compare a plan document with the duties and disclosure rules already opened
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Table the plan's clauses on loyalty, prudence, diversification, the summary plan description, and required beginning dates, against the duties below. Do not say the plan is compliant.
- What the lawyer must review
- ERISA § 404(a)(1) requires a fiduciary to act solely in the interest of participants and beneficiaries, for the exclusive purpose of providing benefits and defraying reasonable expenses, with prudent care, by diversifying unless clearly prudent not to, and in accordance with the plan documents insofar as consistent with ERISA. A summary plan description must be accurate and comprehensive enough for the average participant (29 U.S.C. § 1022(a)). The IRS required-minimum-distribution page says withdrawals generally start at age 73, with the first due by 1 April of the next year, subject to a workplace plan that allows a delay until retirement. This comparison uses only those rules. It is not a full qualification checklist. You decide what is missing.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes preparing preliminary structure or wording. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Review the original source set for relevant material absent from the output, including contrary evidence, qualifications and remaining gaps.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.
Forms and precedents for this task
| Form or precedent | Kind | AI use | Summary |
|---|---|---|---|
| ERISA plan instrument checklist | Checklist | AI use Yellow | Checklist of what 29 U.S.C. § 1102 says a written employee benefit plan instrument must contain. |
| ERISA summary plan description statute checklist | Checklist | AI use Yellow | Checklist of the summary plan description contents in 29 U.S.C. § 1022. |
| Plan instrument and booklet comparison | Checklist | AI use Yellow | A side-by-side review of an ERISA plan instrument and its summary plan description. |
Signed-in accounts can read the full text of each one. All precedents.