General Session Topics
Legal
- Define basic terms related to trusts.
- Explain the purpose and key elements of trust agreements.
- Describe key legislation and its implications for operation of trusts.
- Identify fiduciary obligations of trustees.
- Explain basic trustee duties.
- Explain examples of trustees who have found themselves in difficult situations/cases.
- Identify strategies to put in place to protect trustees, beneficiaries and settlors.
- Indicate considerations in trustee expense reimbursement.
Administration
- Outline key functions required of trustees for effective management of trusts.
- Explain the significance of the Trust Act, trust agreement, collective agreement, participation agreement and benefit plan text for meeting fiduciary duty.
- Describe key service providers that support trustees in their role as legal administrator.
- Explain the importance of trustee meetings and meeting protocol.
- Outline typical administrative activities.
- Outline the benefits and challenges in self-administration and third-party administration.
- Describe key considerations for selecting and managing service providers and steps in the RFP process.
Governance
- Understand how good governance supports trustees in the execution of their key functions.
- Define governance both as a noun and as a verb.
- Identify key stakeholders in governance.
- Describe the evolution of governance guidelines.
- Explain basic principles of good governance and best practices.
- Describe the importance of good governance and how to apply best practice guidelines to trustee functions.
Funding / Investment / Finance
- Describe the significance of funding policy for effective trust management.
- Explain the rationale for funding plans.
- List different types of funding.
- Identify factors that influence funding requirements.
- Describe the significance of investment policy for effective trust management.
- State key characteristics of bonds and stocks.
- Explain the importance of asset mix and diversification to investment decisions.
- List the steps in the investment process.
- Explain the role of the actuary and the investment manager.
- List the key questions to ask about investment strategy.
- Describe the significance of financial reporting and budgeting to effective trust management.
- Indicate sources and uses of income.
- Describe key financial reports and how they inform decision making.
- Explain the role of the auditor.
Registration Includes
- FTMS Certificate of Achievement (for those who attend the full 2½ days of classroom instruction and successfully complete the optional test)
- Three continental breakfasts
- Two lunches
Course Structure
Day One: 8:15 a.m. – 4:30 p.m.
Day Two: 8:30 a.m. – 4:30 p.m.
Day Three: 8:30 a.m. – 11:45 a.m.
Continuing Education
RIBO credit is not available for this program.
For inquiries regarding continuing education (CE), please contact the Foundation’s CE department at (262) 786-6710, option 2; or email continuinged@ifebp.org.
Program Questions
For more information on this program, contact Mary Jo Bugembe at (262) 373-7641 or maryb@ifebp.org.