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Retirement Plan Investment Committee

General Description

  • Committee is a standing committee of the Board of Trustees.
  • Number of members is four, consisting of the Director of Human Resources (Chair), Chief Financial Officer, the Human Resources Benefit Specialist, and the Associate Treasurer.

Responsibility

The Committee’s primary responsibility is to choose and monitor plan funding options in a prudent manner ensuring that the Society fulfills its Plan Sponsor responsibilities. The Committee will make reports to the Board concerning its activities at least annually.

Principal Activities

The principal activities of the Committee include:

  • Establishing and managing an Investment Policy Statement (IPS) approved by the Board of Trustees.
  • Controlling fees and expenses.
  • Designing and reviewing Plan investment menus.
  • Selecting and terminating funding options.
  • Monitoring and documenting Plan investment performance.
  • Generating communications to participants when necessary.

Other Activities

The Committee may choose to hire an outside Independent Investment Advisor/Manager to:

  • Propose investment options according to criteria established in the IPS.
  • Report and review investment options’ performance against established peer groups and benchmarks according to frequencies required by the IPS.
  • Monitor changes at fund management firms

Miscellaneous Information

The Committee will meet at least annually, not necessarily in person, but may meet at other times as needed to carry out fiduciary responsibilities.

Staff support for the Committee is provided by the Director of Human Resources and the Chief Financial Officer.

The Society will maintain a website with information relevant to the Investment Committee. Such information will include minutes, investment performance information, and other information relating to the Society’s retirement plan investments.

Note to the Chair

For the purpose of archiving the committee activities, the Secretary maintains a central file system for archiving committee records. Committee Chairs are asked to submit committee records on yearly basis. Chairs can submit material at their discretion, and some materials that they may wish to provide are meeting minutes, agenda, and emails. Confidential material should be noted, so that it can be handled in a confidential manner.

Authorization

  • May 2011 ECBT Minutes, Item 3.9; update 12/7/11: Regarding Retirement Plan Administration, the BT approved a recommendation from the Executive Director to establish a Retirement Plan Investment Committee with the following members: Director of Human Resources (Chair), Chief Financial Officer, Associate Treasurer, and fifth year elected member of the BT.
  • November 2011 ECBT Minutes, Item 3C.3: BT approved charge for committee.
  • May 2016 ECBT Minutes, Item 3C.4: Change in membership.
  • November 2017 ECBT Minutes, Item 3C.3 : Change in membership.
  • May 2018 ECBT Minutes, Item 3C.2: Change in Membership

Past Members

A list of current and past members is available here:
http://www.ams.org/about-us/governance/committees/retireplan-past.html