The Investment Funds Committee (IFC) of General Motors Corporation serves as a named fiduciary for the company's defined benefit employee plans under ERISA. The IFC is comprised of at least 3 independent members appointed by the Board of Directors. It meets at least 3 times annually. The responsibilities of the IFC include annually reviewing investment policies, appointing independent fiduciaries for employer securities, and reporting to the Board on fiduciary duties and investment activity. The IFC has full access to company resources and can retain outside advisors to assist in its duties of overseeing retirement plan governance and investments.