Welcome to the FPPTA Pension Fundamentals for New Trustees Video Series
We’re excited to have you embark on your journey to becoming a Certified Public Pension Trustee. Before we get started at the next in-person Trustee School, it’s important for you to get brief introduction into the many professionals you will encounter and work with in your role serving as a municipal pension trustee. Understanding the roles of the various service providers who interact with your board will give you a running start as you enter the CPPT program.
Please verify that you have viewed each of the following videos by entering your name and pension board at the bottom of the page.
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Board Meeting Basics
An overview of a pension board meeting.
2. The Plan Administrator
The administrator manages retirement benefit programs for city or local government employees. They oversee pension funds, ensure compliance with laws and policies, calculate and process benefits, maintain records, and assist employees and retirees with questions about their pensions.
3. The Custodian
The custodian is responsible for safeguarding and managing the assets of a public pension fund. They handle the custody of securities, process transactions (like trades and income collections), maintain accurate records, and ensure assets are held securely and in compliance with regulations and fund policies.
4. The Actuary
The actuary analyzes and evaluates a public pension plan’s financial health. They use statistical and financial models to estimate future liabilities, determine contribution requirements, and help ensure the plan remains adequately funded and sustainable over time.
5. The Investment Consultant
The investment consultant advises public pension funds on how to invest their assets. They develop investment strategies, recommend asset allocations and managers, monitor performance, and help ensure the portfolio meets the fund’s long-term financial goals and risk tolerance.
6. The Investment Manager
The investment manager is responsible for directly managing a pension fund’s investment portfolio. They make day-to-day investment decisions, buy and sell assets, and aim to achieve strong returns while managing risk in line with the fund’s objectives and guidelines.
7. The Plan Attorney
The attorney provides legal guidance on the administration and governance of public pension plans. They ensure compliance with applicable laws and regulations, advise on plan documents and policies, and represent the pension system in legal matters such as disputes, contracts, and fiduciary issues.