Avoid conflicts. Act only in the interest of plan participants and beneficiaries. Your exclusive purpose must be to provide benefits to them. Nothing else, including loyalties to family or friends, may influence your decisions.
Be prudent. Carry out your duties prudently. You need not be perfect or all knowing. Document the process for making decisions and, if you lack expertise in a particular area, hire an expert.
Follow documents. Plan documents, like forms, can be good and evil. Find the good in your documents. Follow them unless and until you revise them to comply with a change in the Employee Retirement Security Act of 1974 or other law.
Diversify investments. Diversify investments in the plan. A single investment, or a few investments, should not destroy plan value. Manage plan risk by spreading it.
THE BOURNE FIRM