List proposed retirement-plan decisions for the fiduciary minutes
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List each proposed decision, the plan clause the papers cite, and the documents attached. Do not write the minutes that will be signed.
- What the lawyer must review
- ERISA § 404, 29 U.S.C. § 1104(a)(1), requires a fiduciary to act solely in the interest of the participants and beneficiaries, for the exclusive purpose of providing benefits and defraying reasonable expenses, with the care of a prudent person, by diversifying unless it is clearly prudent not to, and in accordance with the plan documents insofar as they are consistent with ERISA. The minutes have to show the decision the fiduciaries actually made. Opinion 512: check the list against the papers, and do not put them in a public tool. You write and sign the minutes.
- 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
- 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.