Two-Day Workshop
Saturday, October 29 and Sunday, October 30
New Trustees Institute is designed for trustees who have served for less than two years, or who have not previously attended an International Foundation educational program. The program provides valuable insight into the role and responsibilities of trustees. A separate certificate of attendance will be awarded to those who meet the program’s attendance guidelines.
Saturday, October 29 • 8:00 a.m.-3:00 p.m.
New Trustees Institute—Part I
6:00-8:00 a.m.—Continental Breakfast
8:00-10:00 a.m.—Trustee Responsibility
- History of benefits/legislation
- Governing documents
- Major laws affecting joint trusts
- Fiduciary responsibilities under ERISA
- Basic responsibilities for operation of the fund
- Allocating or delegating responsibilities
William K. Ecklund, Shareholder, Felhaber, Larson, Fenlon & Vogt, P.A., Minneapolis, Minnesota
10:15-11:30 a.m.— Understanding the Fund’s Financial Statements
- What is the relationship between the financial statement and fiduciary duties?
- What do the statements contain?
- What does the information tell you?
- What should you look for?
- What is the relationship among the financial statement, the year-end audit and government filings?
Lawrence R. Beebe, CPA, Partner, Bond Beebe, Bethesda, Maryland
11:30 a.m.-12:30 p.m.—Lunch Break (on your own)
12:30-1:45 p.m.—Overview of Health and Welfare Funds
- Purpose and objective
- Governing documents
- Plan design alternatives
- Funding methods/types of administration
- Reserve objective and analysis
- Income and expenses
- Communication needs and requirements
Jackson A. Loos, Chief Consulting Officer, Rael & Letson, Edmonds, Washington
2:00-3:00 p.m.—Health and Welfare—Current Environment
- Key factors contributing to rising health care costs
- Retiree medical benefits
- Description of cost-containment programs available
- Collecting/analyzing data
- Legislative developments
- What’s being considered on the state/federal levels?
Jackson A. Loos
Sunday, October 30 • 8:00 a.m.-3:00 p.m.
New Trustees Institute—Part II
6:00-8:00 a.m.—Continental Breakfast
8:00-9:15 a.m.—Overview of Pension Funds
- Purpose and objectives
- Features of defined benefit plans
- Coverage, service, benefits
- Requirements and limits, types of DB plans
- Funding
- Liabilities, cost, withdrawal liability
- The actuarial report, how to talk to your actuary
R. Scott Gregory, FSA, President, R. Scott Gregory, Inc., Annapolis, Maryland
9:30-10:30 a.m.—Pension—Current Environment
- Other types of retirement plans
- Defined contribution plans
- Plan features
- Comparison with defined benefit plans
- Types of DC plans
- Hybrid plans
- Current events
- Investment markets, accounting changes
- Pension Protection Act, trends in plan design
R. Scott Gregory
10:45 a.m.-12:30 p.m.— Investing Pension and Health and Welfare Assets
- Trustee responsibility for investments
- Management of risks
- Characteristics of investments
- Steps to investment policy
- Setting investment objectives, selecting the manager
- Monitoring performance
- Impact of inflation on securities values
Sandy Lincoln, Senior Investment Strategist, M&I Wealth Management, Milwaukee, Wisconsin
12:30-1:30 p.m.—Lunch Break (on your own)
1:30-3:00 p.m.—Trust Fund Administration
- Types of administration
- Overview of duties and responsibilities
- Collecting and reporting contributions
- Maintaining records and documents
- Processing health claims/pension applications and related functions
- Role of professional advisors
- Interaction with one another and trustees
- Communication needs and requirements
- Best practices
- Facilitating better board meetings
Regina C. Reardon, Esq., President, Healthcare Strategies, Inc., Plymouth Meeting, Pennsylvania