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:
In addition to operating rules, the pension committee's internal by-laws must include governance rules that mainly cover risk management and internal controls.
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Instalment 3 of the collection Administering a pension plan well