It sounded like a great idea at the time. An alumni association for a student organization was being formed and with my expertise in fundraising, I was asked to be on the fundraising committee.
The committee had one meeting and got bogged down when two non-lawyers were arguing with me about selling clothing with our student organization logo on it and whether it constitutes unrelated business income (it does not), We have never had a meeting since.
A retirement plan committee is all about running a prudent process for your retirement plan. It needs to be there, it needs to work, and it can’t get bogged down in minutia.
