New Trustees Institute - Level I: Core Concepts

Trustee Responsibility and Legal Environment

• History of benefits/legislation
• Governing documents
• Fiduciary responsibilities under ERISA
• Relationship of trustees and parties to the collective bargaining agreement
• Conducting effective trustee meetings

Investing Health and Welfare and Pension Assets

• Investing process
• Investment terminology
• Risk and return
• Investment objectives and policy
• Asset classes
• Asset allocation
• Market performance
• Selecting managers and monitoring performance

Governance

• Financial statements
• Internal controls
• Administration
• Documents, records and meeting minutes
• Working with plan professionals
• Defining a good trustee and how to become one
• Communication
• Best practices

Overview of Health and Welfare Plans

• Overview of health and welfare programs
• Plan funding
• Plan design
• Administration and financing metrics
• Communication needs and requirements
• Data collection and analysis
• Cost-control initiatives
• Health care reform, legal/legislative developments

Overview of Retirement Plans

• Purpose and objectives
• Actuarial concepts
• Administration
• Manage the money
• Defined benefit pension plans
• Defined contribution and hybrid plans
• Accounting changes
• Market performance
• Legal and legislative developments
• The future of retirement