Your 401(k) Committee Playbook: AI Minutes, Privilege Risk, and Getting the Right People in the Room

Short summary

AI-transcribed meeting minutes may expose ERISA committees to significant legal risk by creating discoverable records that could undermine privilege protection and expose tentative deliberations to litigation. Use AI only as a post-meeting drafting aid, with human review controlling the official record. Effective committees require three core perspectives: executive authority to commit resources, financial literacy for investment oversight, and HR operational insight—with in-house counsel serving as advisor rather than voting member.

• •AI transcripts of ERISA committee meetings risk waiving privilege and exposing tentative deliberations to litigation
• •Best practice: use AI for post-meeting drafting with human review, not transcription
• •Committee composition should include executive authority, financial expertise, HR operations, and counsel as advisor (not member)

Generated with AI, which can make mistakes.