Investment Policy Statement

This Investment Policy Statement (“Policy”) is the product of the Board’s careful and prudent study; it represents the Board’s conclusions as to the most suitable combination of investments within the applicable statutory requirements, which will satisfy the Plan’s ongoing obligations for members and beneficiaries.

 

The purpose of the Investment Policy Statement is to:

 

• Provide a written document that sets forth the Board’s expectations and objectives in the investment of Plan assets;
• Describe an organized structure for the investment of Plan assets, including the identification of investable asset classes and investment strategies which, in aggregate and over time, are expected to meet the Plan’s return objectives while maintaining a prudent level of diversification;
• Set forth guidelines that define the objectives and appropriate level of risk for each investment manager or mandate;
• Define criteria by which to monitor and evaluate the results and activities of each investment manager;
• Communicate the investment policies, objectives, guidelines, and performance criteria to the Members, Board, Staff,  Investment Managers, Investment Consultants, and all other interested parties and
• Demonstrate that the Board is fulfilling its fiduciary responsibilities in the management of the investments of the Plan solely in the interests of members and beneficiaries.