What should a retirement plan committee charter contain?

Last updated October 2, 2026

The charter should establish the committee's authority by formal delegation, define membership and appointment rules, set meeting frequency and quorum, require minutes, and authorize hiring advisers. It's the document that makes the committee's fiduciary role — and its protection — official.

A retirement committee charter typically addresses:

  • Source of authority: the board or company resolution delegating named fiduciary and/or investment authority to the committee
  • Scope: which functions the committee owns — investments, administration, vendor oversight — and which stay with the sponsor as settlor
  • Membership: how members are appointed and removed, size, chair, and voting
  • Cadence: required meeting frequency (quarterly is the retirement-plan norm) and quorum
  • Documentation: minutes for every meeting, retained with plan records
  • Advisers: authority to engage investment advisers, counsel, and consultants

Adopt it formally, follow it literally, and revisit it periodically — a charter that says "quarterly meetings" while the committee met once last year is discovery-ready evidence against you.

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