Pension plans currently face a variety of challenges from the
effects of a global pandemic, a changing political climate and a
struggling economy. Trustees, those entrusted with the life savings
of millions, are expected to understand the intricate workings of
finance, demography, technology and more. Are they now required to
know how to navigate these uncharted waters as well?
The truth is that pension plan trustees come from a variety of
backgrounds, experiences, and perspectives. Whatever a
trustee's credentials and qualifications, the fiduciary
responsibility remains the same. If good governance practices
create the formal infrastructure that guides fiduciary
decision-making, here are six guiding principles about governance
that will help trustees steady the ship.
