New Trustees Institute — Core Concepts
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As a track of the Trustees and Administrators Institute, the New Trustees Institute—Level I: Core Concepts focuses on your role as a trustee, your understanding of the key issues in managing your pension and health and welfare funds, and the complex environment of benefits.
The New Trustee Institute — Level I is the first step in the trustee education path, where trustees will obtain a basic understanding of their fiduciary responsibility, the legal environment, best practices and current issues in the benefits industry.
Trustee Responsibility and Legal Environment
- Legal and legislative framework
- Two-hat structure
- Governing documents
- Key governmental agencies
- Required communication
- Fiduciary and co-fiduciary obligations
- Duty to monitor fees
- Liability Insurance
Investing Health and Welfare and Pension Assets
- Modern portfolio theory
- Asset allocation
- Asset classes
- Investment policies
- Institutional vs. individual portfolios
- Investment managers
Overview of Health and Welfare Plans
- Funding and resources
- Prescription drugs
- Legal framework
- Basic health care financial information
- Plan types
- Legislative and regulatory requirements
- How to be a good trustee
- Trustee meetings/agendas, minutes
- Working with professionals
- Trustee orientation
- Financial statements
- Dealing with two-hat dilemma
- Role of your administrator
- Payroll audits
Overview of Retirement Plans
- Defined benefit plans
- Defined contribution plans
- Pension reform legislation
- Role of the actuary
- Funding methods
- Plan design (traditional)
Benefits of Attending
- Learn from industry experts about the current state of affairs and latest reform initiatives—Be prepared for what lies ahead.
- Network with peers who face similar challenges—Learn from their mistakes, benchmark your performance and gather workable ideas and solutions to implement.
- Bring home helpful resource materials to share with colleagues, from sample documents to checklists and case studies—The value of your attendance will continue long after you’ve left the program.
Who should attend
The New Trustees Institute is designed for trustees who have served for less than two years on ERISA covered plans, or who have not previously attended an International Foundation educational program. The New Trustees Institute is ideal for collective bargaining and other personnel who work with trustees and who would like a better understanding of their role and responsibilities.