Meeting Minutes Alone Won't Protect You — Here's Why

Most retirement plan sponsors believe they're meeting their fiduciary responsibilities. They have meetings. They review reports. They work with an advisor. But having activity is not the same as having governance — and the difference could expose your organization to serious regulatory and legal risk. In this episode of The LoVasco Briefing, Mike Iley sits down with retirement plan consultant Chris Schuppe to break down exactly what separates a governance-grade 401k committee from one that's just going through the motions. In this episode, learn: Why your quarterly investment report is NOT your fiduciary file What meeting minutes actually need to include (and what most get wrong) The 7 components of a governance-grade committee meeting Why the DOL cares about process — not outcomes How to benchmark 401k fees the right way What regulators ask for when they come knocking The three foundational pieces every plan governance framework needs If you're an HR Director, CFO, or plan sponsor, this episode will help you understand whether your organization truly has a governance process — or just the appearance of one. Curious if you are getting the guidance your deserve? We've built a quick check-up tool to help you answer that: https://score.lovascogroup.com/retire... Chapters: 0:00 Introduction 0:16 Activity vs. Governance: What's the Real Difference? 3:14 Why Your Quarterly Report Isn't a Fiduciary File 6:22 What a Governance-Grade Committee Meeting Actually Looks Like 12:34 What Meeting Minutes Must Include (And What Most Get Wrong) 19:07 Building a Governance Framework from the Ground Up 25:41 Fee Benchmarking: How to Do It Right 38:19 What Regulators Are Actually Looking For 41:17 Closing Advice & Free Assessment