In our 2014 Retirement Survey Report , about 79% of survey participants said they have an investment committee. Given a complex environment of regulatory scrutiny and fiduciary liability exposure, a committee specifically charged with investment oversight is a sound risk management strategy for plans and organizations of all types and sizes. Although they will differ from one organization to the next, best practices suggest an investment committee’s responsibilities and duties include: developing an investment policy statement; establishing a formal process to manage the plan’s investment strategy; determining and implementing investment decisions; establishing procedures for selecting and monitoring investment options; selecting and removing fund managers and evaluating their performance; and reviewing investment management fees. As these duties suggest, it is also a best practice to ensure that an investment committee is appropriately empowered to make and carry out relevant investme