Category Archives: Fiduciary updates

The OCIO Advantage: Watch the webinar


Why would a committee choose an OCIO (outsourced chief investment officer) or discretionary advisory model? In this webinar, hear from senior advisors Chris Van Dyke, CFA, CAIA, and James Ellis, CFA, as they chat with Northwest Health Foundation committee member Bill Thorndike about his experience in choosing and moving to an OCIO model. Read more »

Legislative Updates: First Quarter 2020


In response to the ever-increasing financial challenges from the coronavirus (COVID-19) pandemic across the U.S. economy, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020. With many Americans facing significant financial burdens as a result of COVID-19, the Act is designed to provide some relief by allowing them to supplement their income through retirement plan distributions, loans, and/or delaying loan repayments. The Act also includes other significant provisions, including but not limited to, a waiver of required minimum distributions (RMDs) and funding relief for defined benefit plans. The CARES Act and other changes are designed to assist Americans during this financial crisis with retirement plans, health-related provisions, and even tax deadlines. Below, please find some key provisions: Read more »

The CARES Act: What do retirement plan sponsors need to know?

The new CARES Act (Coronavirus Aid, Relief, and Economic Security Act) stimulus package, designed to provide relief from the effects of the COVID-19 pandemic and quarantines, did not leave out retirement plans and retirement savers. The law includes several provisions that plan sponsors should be aware of, which are designed to help participants who may be struggling with additional financial burdens at this time. Below are some of the key provisions to be aware of: Read more »

Top Five Items to Check Off Your Fiduciary Checklist

As the New Year unfolds, it’s important to emphasize the critical role each investment committee member takes on as a fiduciary. Fulfilling these responsibilities is paramount in ensuring a smooth governance process.  Most endowments and foundations are subject to UPMIFA, the Uniform Prudent Management of Institutional Funds Act.  At its core, UPMIFA requires the Board, Committee, and any others responsible for the management of institutional funds to act in good faith and with the care of a prudent or ordinary person. Read more »

Legislative Updates: Fourth Quarter 2019

Over the past few years, the retirement plan industry has closely watched the progress and evolution of legislation designed to incentivize retirement plan creation and increase plan accessibility with the ultimate goal of helping American workers boost their chances of a secure retirement through tax-advantaged accounts.

The “Setting Every Community Up for Retirement Enhancement” Act (SECURE Act) legislation is the biggest overhaul of the industry since the Pension Protection Act of 2006, and changes will likely affect all retirees. After years of attempts to pass reforms, in late December, President Trump signed the SECURE Act into law. The goal of the new law is to make it easier for employers to help full- and part-time employees save through workplace retirement plans, ultimately helping prevent Americans from outliving their assets. Read more »

SECURE Act: The Coming of Multiple-Employer Plans

In April, the House Ways and Means Committee voted to move forward with the retirement legislation entitled the “Setting Every Community Up for Retirement Enhancement (SECURE)” Act of 2019. Among other key features of the legislation that will help improve retirement saving and security for Americans, one of the main proposed benefits is the authorization of multiple-employer plan (MEP) arrangements. A MEP is a single retirement plan that is offered by two or more unrelated employers that share a required common nexus or interest. These types of plans are governed by Section 413(c) of the Internal Revenue Code and have been deployed successfully for many years by trade associations and professional organizations. It is only with the passage of the SECURE Act that the MEP concept will be available for all types of employers. Read more »

Legislative Updates: Third Quarter 2019


As a reminder, in April, the House Ways and Means Committee voted to move forward with the “Setting Every Community Up for Retirement Enhancement” Act (SECURE Act) legislation. Concurrently, the Senate reintroduced similar provisions in the Retirement Enhancement and Savings Act (RESA). The SECURE Act, with its provisions to incentivize retirement plan creation and increase plan accessibility, is designed to help American workers boost their chances of a secure retirement. Read more »

Listen to Part 2 of Arnerich Massena’s Podcast: Investment Committees: More than the sum of their parts, Traditional Versus Discretionary Advisory Services

In Part 2 of our podcast series, Investment Committees: More than the sum of their parts, we take a look at traditional versus discretionary advisory services. Luka Arnerich, CAIA, a consultant with more than ten years of working with committees in both types of engagements, shares his thoughts and insights on what the difference is and how it affects long-term outcomes, as well as how a committee might decide between one or the other. Read more »