New Trustees Institute-Level I: Core Concepts

IFEBP > Education > New Trustees Institute Level I

Challenges continue to get more complex for pension and health and welfare plans. Education is critical to make necessary decisions and fulfill your fiduciary duty.

For trustees, that education starts with the New Trustees Institute—Level I: Core Concepts. This program is the bedrock of trustee education. It is time-tested, developed by trustees for trustees.

As the first step in the trustee education path, The New Trustees Institute is designed for Taft-Hartley multiemployer plan trustees needing an understanding of their fiduciary responsibilities, best practices in fund management, legal requirements and other need-to-know information pertinent to serving as a trustee.

Topics

Legal/Legislative

Legal and legislative framework
ERISA
Two-hat structure
Governing documents
Key governmental agencies
Required communication
Fiduciary and co-fiduciary obligations
Duty to monitor fees
Liability Insurance

Investments

Terminology
Modern portfolio theory
Asset allocation
Asset classes
Investment policies
Institutional vs. individual portfolios
Investment managers

Health Care

Terminology
Funding and resources
Prescription drugs
Legal framework
ACA
Basic health care financial information
Plan types
HIPAA
Legislative and regulatory requirements

Governance/Administration

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

Retirement

Terminology
Defined benefit plans
Defined contribution plans
Pension reform legislation
Role of the actuary
Funding methods
Assumptions
Plan design (traditional)
Administration

As always, this conference had great materials and speakers. It should be a requirement for all trustees to attend.

Patrick J. Carroll Labor Trustee
UA Local 73 Steamfitters & Pipefitters

Training Paths

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

Designed for trustees who have served for less than two years, or who have not previously attended an International Foundation educational program.