Five Trends to Watch in Public Pension Fund Governance
The investments of public pension fund assets are handled by entities with a variety of governance structures. According to the Government Accountability Office (GAO) the U.S, has over 3,400 public retirement systems covering over 27 million members and beneficiaries. They range in assets from a few million dollars to over $300 billion. For the most part, these systems have defined benefit plans; however, some have defined contribution plans, cash balance plans, hybrids, or multiple plans. One thing these governmental plans all have in common is their legal status as tax-exempt trusts.
A Primer on Custom Target Date Funds
Custom target date funds are a topic that many defined contribution plan sponsors have been asking us about. The HEK Blog did a short interview with Scott Fisher, who heads our custom target date fund team, to expand on some of the questions that he hears from clients and the things that he observes in his conversations with them.