Pension committee operating rules

Pension committee members administer the pension plan together. Operating rules are necessary for the pension committee's business to run smoothly. These rules must be provided for in the internal by-laws adopted by the committee to facilitate effective operations.

At a minimum, the operating rules must cover the following 5 subjects:

officers
duties of the committee members (who does what)
ethics (rules of conduct)
meetings
training for members

In addition to operating rules, the pension committee's internal by-laws must include governance rules that mainly cover risk management and internal controls.

To find out more...

See How a Pension Committee Operates in the Administering a pension plan well collection.