The Fiduciary Duties of Retirement Fund Trustees PDF Download

Author: Steven Douglas Wright
Publisher:
ISBN: 9780620193481
Category : Pension trusts
Languages : en
Pages : 96

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Author: Christian D. Rahaim
Publisher: iUniverse
ISBN: 0595344291
Category : Business & Economics
Languages : en
Pages : 381

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Book Description
For any company or person considering or currently serving in the capacity of an ERISA (Employee Retirement Income Security Act) fiduciary, author Christian D. Rahaim's The Fiduciary: An In-depth Guide to Fiduciary Duties--From Studebaker to Enron, is an invaluable resource. The Fiduciary contains essential material--from the evolution of the fiduciary concept to its adaptation in ERISA and its continued evolution in the workplace. The clear and concise chapters build the framework for the reader to develop an understanding of the content, operations, and issues with the fiduciary obligation, such as: - An overview of pension plans - Responsibilities of a fiduciary - Investment management for defined contribution and benefit plans - Plan fees and expenses - Administration and compliance Christian Rahaim relies on more than twelve years of human resource management experience to guide employers through the processes related to employee benefits and fiduciary responsibilities. Citing the classic example of the Studebaker Corporation and the high-profile debacle of Enron, he details major factors that should be considered in fiduciary roles. The Fiduciary is an employers' guide for updated information on the increasingly controversial, legislated, and litigated topic of employee benefit plans.

Author: Tamar Frankel
Publisher:
ISBN: 019539156X
Category : Law
Languages : en
Pages : 334

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Book Description
In Fiduciary Law, Tamar Frankel examines the structure, principles, themes, and objectives of fiduciary law. Fiduciaries, which include corporate managers, money managers, lawyers, and physicians among others, are entrusted with money or power. Frankel explains how fiduciary law is designed to offer protection from abuse of this method of safekeeping. She deals with fiduciaries in general, and identifies situations in which fiduciary law falls short of offering protection. Frankel analyzes fiduciary debates, and argues that greater preventive measures are required. She offers guidelines for determining the boundaries and substance of fiduciary law, and discusses how failure to enforce fiduciary law can contribute to failing financial and economic systems. Frankel offers ideas and explanations for the courts, regulators, and legislatures, as well as the fiduciaries and entrustors. She argues for strong legal protection against abuse of entrustment as a means of encouraging fiduciary services in society. Fiduciary Law can help lawyers and policy makers designing the future law and the systems that it protects.

Author: Robin Ellison
Publisher: Thorogood Publishing
ISBN: 1854184105
Category : Business & Economics
Languages : en
Pages : 392

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Book Description
Takes into account the changes to the law and regulations since the Pensions Act 2004. This book contains practical advice on what you need to do. It ends each chapter with a summary of key points, and includes case studies, check lists and addresses.

Author: Arad Reisberg
Publisher:
ISBN:
Category :
Languages : en
Pages :

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This study examines how UK pension fund trustees interpret the concept of their fiduciary duties in practice and how these interpretations may shape pension fund approaches to corporate stewardship and engagement as envisioned by the UK Stewardship Code. Using the data from 35 in-depth, semi-structured interviews with pension fund trustees, executives, investment intermediaries and a series of round-table discussions with pensions experts, the study uncovers interpretive pluralism of the concept of Fiduciary Duty in the area of pension funds. A model identifying the spectrum of pension fund engagement is developed, showing how different interpretations of fiduciary duty may be linked to various intensity and methods of engagement in practice. The findings help disambiguate the concept of 'fiduciary duty', highlighting the challenges of Stewardship Code application in practice. These insights are very relevant to the ongoing revisions of the Stewardship Code and further policy clarifications of the nature of fiduciary duty by the UK Financial Conduct Authority. This paper encourages trustees, regulators and others to consider closely what role pension fund trustees should have in stewardship, which may not be directly relevant to their fiduciary duties as trustees.

Author: Betty Linn Krikorian
Publisher: MICHIE
ISBN:
Category : Corporate governance
Languages : en
Pages : 416

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Author: Paul Rose
Publisher:
ISBN:
Category :
Languages : en
Pages : 33

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This article challenges the standard doctrine that public pension funds should be managed solely for the benefit of plan participants and their beneficiaries. Instead, economic logic suggests that public pension fund trustees owe their duties to the public collectively. This analysis is driven by the fact that in practice individual pension fund claimants function more like senior creditors than the residual claimants that are the typical recipients of fiduciary duties, and that the public in general, and current and future taxpayers specifically, are the true residual risk bearers for public pension funds. This reframing of fiduciary duties in public funds has dramatic consequences for the investment policies of the funds. Most importantly, a shift in the locus of fiduciary duties to public wealth maximization will require fund managers to more fully consider the externalities accompanying their investments, which should serve to help them fully and accurately price their investments. Private investors might ignore certain negative effects, such as uncompensated harms from pollution or depleted natural resources, because the government absorbs the costs of such externalities. Indeed, a strict fiduciary duty to act in the interests of the fund would obligate a private investor to ignore such externalities, so long as they do not negatively affect the returns of the fund's investments. The government -- and by extension, the public who funds the government--that absorbs the cost of these externalities, however, should view investments differently, with a view to minimizing negative externalities, particularly those that are significantly more expensive to remediate than to prevent. Similarly, a strict reading of fiduciary duty would suggest that funds should ignore positive externalities from investments that benefit society but not the plan participants; a focus on public wealth maximization would suggest that positive externalities should also be taken into account in investment decisions, which might, as a consequence, result in more investment in sustainable enterprises and long-term projects.

Author: Muthundinne Sigwadi
Publisher:
ISBN:
Category : Liability (Law)
Languages : en
Pages : 72

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Author: Great Britain: Law Commission
Publisher: The Stationery Office
ISBN: 9780108512728
Category : Business & Economics
Languages : en
Pages : 302

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Book Description
The consultation paper Fiduciary Duties of Investments Intermediaries: A Consultation Paper follows on from the Kay Report on UK Equity Markets and Long Term Decision Making (see below), and uses pensions as the example, tracing a chain of intermediaries from the prospective pensioner/saver to the registered shareholder of a UK company. There are well established duties on pension trustees to act in the best interests of scheme members, and it looks at how far these duties require trustees to maximize financial return over a short time scale, and how far trustees can consider other factors such as environmental and social impact. The consultation asks: Whether the law is right to allow trustees to consider ethical issues only in limited circumstances? Whether the legal obligations on trustees are conducive to investment strategies in the best interests of the ultimate beneficiaries? and if not, what specifically ne

Author: Kees Koedijk
Publisher: John Wiley & Sons
ISBN: 1119437695
Category : Business & Economics
Languages : en
Pages : 330

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Book Description
Crucial methods, tactics and tools for successful pension fund management Achieving Investment Excellence offers trustees and asset managers a comprehensive handbook for improving the quality of their investments. With a stated goal of substantially and sustainably improving annual returns, this book clarifies and demystifies important concepts surrounding trustee duties and responsibilities, investment strategies, analysis, evaluation and much more. Low interest rates are making the high cost of future pension payouts fraught with tension, even as the time and knowledge required to manage these funds appropriately increases — it is no wonder that pensions are increasingly seen as a financial liability. Now more than ever, it is critical that trustees understand exactly what contributes to investment success — and what detracts from it. This book details the roles, the tools and the strategies that make pension funds pay off. Understand the role of pension funds and the fiduciary duty of trustees Learn the tools and kills you need to build profound and lasting investment excellence Analyse, diagnose and improve investment quality of funds using concrete tools and instruments Study illustrative examples that demonstrate critical implementation and execution advice Packed with expert insight, crucial tools and real-life examples, this book is an important resource for those tasked with governing these. Achieving Investment Excellence provides the expert insight, clear guidance and key wisdom you need to manage these funds successfully.